Nepal’s share market weathers political jitters
Summary
Nepal’s share market fell sharply on Thursday amid rumours that a senior political leader could be arrested, before recovering part of its losses by the close. Analysts said the market remains sensitive to political developments and investor uncertainty, even as technical indicators still suggest buying pressure is outweighing selling.
Key Points
- Investor anxiety rose after rumours spread that a senior political leader could be arrested, briefly pushing the market down by as much as 25 points.
- The Nepse index recovered some ground before the close, ending the day down 12 points.
- Analysts said Nepal’s market has repeatedly reacted to political developments and arrests, including previous cases involving Deepak Bhatta and Jyoti Prakash Pandey.
- Technical indicators such as Bollinger Bands, RSI and accumulation/distribution suggest the market remains above average and buying pressure is still stronger than selling.
