Gorkha Macro

Nepal's economy, read from the data.

Gorkha Macro is an independent research publication on Nepal's economy, its industries and its capital markets. Every figure we publish names its source and its date.

Trading: 0.2% of equity turnover over the period. Peak 20-session average NPR 0.03 bn a day (29 Mar 2026); latest NPR 0.01 bn. Non-life insurance: 1.9% of equity turnover over the period. Peak 20-session average NPR 0.38 bn a day (29 Jul 2025); latest NPR 0.05 bn. Hotels & tourism: 2.5% of equity turnover over the period. Peak 20-session average NPR 0.43 bn a day (17 Jun 2025); latest NPR 0.10 bn. Life insurance: 3.4% of equity turnover over the period. Peak 20-session average NPR 0.62 bn a day (30 Jul 2025); latest NPR 0.11 bn. Finance companies: 3.6% of equity turnover over the period. Peak 20-session average NPR 0.62 bn a day (5 Feb 2026); latest NPR 0.12 bn. Investment: 5.4% of equity turnover over the period. Peak 20-session average NPR 1.03 bn a day (10 Jun 2025); latest NPR 0.33 bn. Microfinance: 5.4% of equity turnover over the period. Peak 20-session average NPR 1.46 bn a day (7 Aug 2025); latest NPR 0.17 bn. Others: 5.7% of equity turnover over the period. Peak 20-session average NPR 1.28 bn a day (17 Aug 2025); latest NPR 0.07 bn. Development banks: 6.4% of equity turnover over the period. Peak 20-session average NPR 1.44 bn a day (6 Aug 2025); latest NPR 0.24 bn. Commercial banks: 9.1% of equity turnover over the period. Peak 20-session average NPR 1.79 bn a day (5 Aug 2025); latest NPR 0.74 bn. Manufacturing: 9.2% of equity turnover over the period. Peak 20-session average NPR 1.34 bn a day (16 Apr 2026); latest NPR 0.68 bn. Hydropower: 47.2% of equity turnover over the period. Peak 20-session average NPR 7.50 bn a day (7 Apr 2026); latest NPR 2.09 bn.
Twelve sectors of the Nepal Stock Exchange, drawn as a range. Each ridge is a sector's daily traded value, averaged over 20 sessions and scaled to its own peak, 9 June 2025 to 8 October 2026. Nearer ridges carry more turnover; hydropower is in red. Source: Nepal Stock Exchange daily trading records; Gorkha Macro calculation.
Show the numbers
SectorShare of turnoverPeak, NPR bn/dayPeak dateLatest, NPR bn/day
Hydropower47.2%7.507 Apr 20262.09
Manufacturing9.2%1.3416 Apr 20260.68
Commercial banks9.1%1.795 Aug 20250.74
Development banks6.4%1.446 Aug 20250.24
Others5.7%1.2817 Aug 20250.07
Microfinance5.4%1.467 Aug 20250.17
Investment5.4%1.0310 Jun 20250.33
Finance companies3.6%0.625 Feb 20260.12
Life insurance3.4%0.6230 Jul 20250.11
Hotels & tourism2.5%0.4317 Jun 20250.10
Non-life insurance1.9%0.3829 Jul 20250.05
Trading0.2%0.0329 Mar 20260.01

The market in one sentence

In the 63 sessions to 8 October 2026, 46 securities, a tenth of the 451 that traded, took 54.4% of NPR 296 billion in turnover.

Turnover on the Nepal Stock Exchange is concentrated in a small set of names. The monthly wrap tracks turnover, sector returns and concentration from NEPSE's own daily records.

Read the market wrap

On the desk

  • Markets

    Monthly wrap of the Nepal Stock Exchange: turnover per session, equal-weight sector returns and how concentrated trading is. Updated from 9 June 2025 onward.

    Live

  • Hydropower tracker

    All 107 listed hydropower companies and the 278 projects they own or invest in, mapped field by field from their annual and quarterly reports.

    Verification in progress

  • Data

    The series behind every chart, as CSV files with the source and method written on the first line.

    Live

Next to load

  • A monthly macro monitor from Nepal Rastra Bank's data: inflation, remittances, reserves, credit and deposits.
  • Trade by commodity and partner country from Department of Customs releases.
  • Banking and insurance trackers built from regulator filings.

Analysis

The first pieces are in preparation.

Analysis will cover budgets and fiscal policy, monetary conditions, securities regulation and deep dives into industries such as hydropower and banking. Until it publishes, the data desk is open.