Global Friction Signals Risk-Off Mode in NEPSE as Red Wednesday to 2618

Sep 23, 2026
145

The Nepal Stock Exchange (NEPSE) experienced a steep decline today, as the benchmark index dropped 36.25 points to close at 2,618.03. Escalating geopolitical friction in the West sparked widespread risk-aversion among domestic investors, triggering aggressive sell-offs across major sectors. Market liquidity remained heavy despite the downturn, with daily turnover crossing Rs 6.30 billion as 21,622,728 shares changed hands across the floor.

Market Breadth

Advanced 23
Declined 253
Unchanged 2

Interpretation:

ADR : 0.091 (Driven by widespread selling across the board)
For every 1 stock that advanced, roughly 11 stocks declined (1:11 ratio)

Top Gainers

Symbol	Turnover	LTP	Pt. Change	% Change
DLBS	4,002,684.70	1,341.90	175	15
CYCL	16,854,638.60	1,531.00	79	5.44
NIFRAGED	838,712.00	1,082.00	51.9	5.04
PBD84	69,450.00	1,080.00	39.9	3.84
GBIMESY2	16,541.00	9.26	0.33	3.7

Top Losers

Symbol	Turnover	Close Price	Pt. Change	% Change
FMDBL	22,668,526.60	750.00	-70.00	-8.54
MEPDL	21,670,419.80	646.20	-39.20	-5.72
KMCDB	2,370,022.30	810.00	-45.00	-5.26
IHL	3,235,989.30	325.10	-17.90	-5.22
EBLD85	3,309.00	1,103.00	-57	-4.91

Top Turnover Stocks

Symbol	Qty	Turnover (NPR)	LTP	Point Change	% Change	Market Weighted
SHIVM	555,271	383,446,856.30	687.00	+2.90	+0.42%	6.03%
RSML	78,342	212,561,553.50	2,722.90	+23.90	+0.89%	3.34%
HDL	160,407	205,417,048.70	1,278.30	-5.70	-0.44%	3.23%
LSL	761,653	188,492,268.60	245.90	-4.10	-1.64%	2.97%
AKJCL	479,494	172,978,748.20	358.00	-6.80	-1.86%	2.72%

Extreme Capital Concentration: These top 5 scrips alone represent 18.29% of total market turnover (6.03% + 3.34% + 3.23% + 2.97% + 2.72%). Nearly 1 in every 5 Rupees traded across the entire floor today flowed into just these five companies.
Defensive Outperformance in Manufacturing: Both SHIVM (6.03% market weight) and RSML (3.34% market weight) absorbed the heaviest volume while maintaining positive territory (+0.42% and +0.89%). Strong institutional buying in these non-banking/manufacturing names served as a defensive buffer during the session.
Liquidity-Driven Exit in Mid-Caps: Highly liquid stocks like LSL (-1.64%) and AKJCL (-1.86%) experienced heavy selling pressure, showing that traders utilized active trading volume to offload risk assets amidst the wider 36.25-point market drop.

Sector Wise

Sub Index	Advanced	Declined	Unchanged	Close	Point	% Change	Turnover (NPR)	Market Remarks / Technical Outlook
Banking	0	19	0	1,497.87	-18.59	-1.22%	884,549,510.20	Complete capitulation across commercial banks; absorbed heavy institutional selling without a single advance.
Development Bank	0	16	0	5,443.83	-75.49	-1.36%	432,102,229.70	Broad-based decline reflecting systemic risk aversion across regional lender scripts.
Finance	2	11	1	2,230.87	-24.76	-1.09%	103,091,926.60	High-beta volatility moderated by minor speculative buys in 2 scripts despite market pressure.
Hotels And Tourism	1	7	0	7,161.86	-70.90	-0.98%	119,736,947.71	Weak tourist inflow expectations and global risk sentiment weighed on hospitality stocks.
HydroPower	9	102	0	3,598.63	-60.99	-1.66%	2,703,107,025.40	Primary epicenter of volume; mass liquidation driven by retail panic and potential margin calls.
Investment	1	6	0	96.54	-1.46	-1.49%	367,278,141.50	Moderate sell-off tracking broader index weakness as holding companies adjusted downward.
Life Insurance	0	14	0	11,800.79	-246.65	-2.04%	153,927,509.10	Top percentage loser of the day; experienced sharp profit-booking and distribution.
Manufacturing & Processing	3	12	1	10,638.15	-48.19	-0.45%	1,006,166,937.20	Outperformed the broader index; strong institutional buffer from SHIVM and RSML.
Microfinance	7	42	0	4,530.62	-60.33	-1.31%	227,808,107.80	Selective buying in select microfinances couldn't halt the wider sub-index decline.
Mutual Fund	14	24	3	19.58	-0.03	-0.15%	55,279,295.97	Lowest volatility sub-index; traded near NAV floors with balanced, low-volume activity.
Non Life Insurance	0	13	0	9,666.00	-129.78	-1.32%	41,153,196.60	Unanimous decline; zero advancing scrips on low liquidity indicating lack of buyer support.
Others	0	9	0	1,829.74	-30.88	-1.65%	87,074,308.05	Heavily impacted by heavyweights like NTC following global market risk trends.
Trading	0	2	0	3,238.56	-41.40	-1.26%	39,571,667.40	Thin trading volume with immediate price markdowns across all constituents.

Key Summary

Defensive Sector: Manufacturing & Processing (-0.45%) showed significant institutional absorption.
Highest Pressure: Life Insurance (-2.04%) and Hydro Power (-1.66%) bore the brunt of market-wide liquidations.
Liquidity Driver: Hydro Power alone absorbed over 42% of total daily turnover (NPR 2.70 Billion).

NEPSE Technical Breakdown

1. Key Price Levels & Structure

Current Close: 2,618.03 (-36.25 points / -1.37%)
Daily Range: High of 2,671.04 vs. Low of 2,613.13 (closed near the absolute low of the day).
Immediate Support (S1): 2,580 – 2,600 (psychological floor & previous demand zone).
Secondary Support (S2): 2,520 – 2,550 (major horizontal swing support).
Immediate Resistance (R1): 2,654 – 2,670 (previous close & today’s intraday high).
Major Resistance (R2): 2,720 – 2,750 (heavy supply zone).

For Educational Purpose Only _ Prepared by RICKY SINGH