RiseNEPSE Terminal & Order Book Field Guide
A practical reference handbook for reading market depth, order flow, circuit bands, and technical indicators on the Nepal Stock Exchange.
Reading 5-Level Market Depth (The Order Book)
The NEPSE Market Depth visualizer presents pending limit orders awaiting execution at 5 price tiers on both sides of the spread:
- Buy Depth (Bids): Institutional and retail buy orders arranged from highest price downward. The highest bid is Best Bid.
- Sell Depth (Asks): Active sell limit orders arranged from lowest price upward. The lowest ask is Best Ask.
- Bid-Ask Spread: The difference between Best Ask and Best Bid. High-liquidity commercial banks usually maintain a spread of NPR 0.10 to 0.50, whereas small hydro scrips can have spreads exceeding NPR 5.00.
In smaller cap NEPSE scrips, large 20,000-kitta buy bids placed 3 ticks below the market are frequently used by operators to create an illusion of buying support, only to be cancelled seconds before market matching. Always cross-verify with executed Floorsheet volume before taking a breakout trade!
2026 NEPSE Circuit Breaker & Price Band Regulations
Under current regulatory guidelines, the Nepal Stock Exchange operates two levels of circuit breakers:
1. Individual Scrip Band (±15%)
Individual stock price fluctuations within a single trading day are strictly capped at ±15% from the previous trading day's closing price. Once a stock reaches +15%, no orders above that price can be placed into the matching engine.
2. Index-Wide Circuit Breakers (5% & 8%)
If the benchmark NEPSE Index gains or loses 5% before 13:00 NPT, the exchange halts all continuous trading across all scrips for 20 minutes. If the index hits 8% at any time, trading is halted for the rest of the day.
NEPSE Trading Sessions (Monday – Friday)
Pre-Open Session
Call auction where orders are collected without immediate matching. Opening prices are determined by multilateral price discovery.
Continuous Trading
Real-time automated price-time priority matching for regular market orders and limit orders across all scrips.
After-Market (AMO)
Allows retail and working traders to queue buy/sell orders overnight to be routed into the next morning's pre-open auction.
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