<article>Nepal’s stock market rose steadily before the 5 March election, gaining over 57 points across two days on positive investor sentiment, before a four-day trading halt for elections and International Women’s Day. When trading resumed on 9 March, NEPSE surged 4%, briefly crossing 2,800 points and triggering a circuit breaker shortly after opening. The overall trend reflects a bullish response to political stability. However, the government’s reduced FY 2026/27 budget ceiling may introduce caution in the weeks ahead.</article>

Nepal’s stock market rose steadily before the 5 March election, gaining over 57 points across two days on positive investor sentiment, before a four-day trading halt for elections and International Women’s Day. When trading resumed on 9 March, NEPSE surged 4%, briefly crossing 2,800 points and triggering a circuit breaker shortly after opening. The overall trend reflects a bullish response to political stability. However, the government’s reduced FY 2026/27 budget ceiling may introduce caution in the weeks ahead.

original

674x448

610x380

500x500

400x266

400x240

400x203

301x200

thumbnail

viewImage

Business

NEPSE

&nbsp;
<div class="embed-block"><iframe src="https://election-geo-dashboard.pages.dev/" width="100%" height="700" frameborder="0"> </iframe>Made with AWECODE</div>

Nepal election live results

It took the September GenZ firestorm and public anger against non-performing actors for a 35-year-old structural engineer and rapper Balendra (Balen) Shah to oust Nepal’s four-time prime minister and former revolutionary.
The UML’s KP Oli has been trounced by 50,000 votes in his home turf, an area where he has won many elections in his 55-year political career. It is the same story across Nepal, where established politicians are being rejected by voters.
A 'Balen Wave' has swept the country, dyeing it in the RSP’s Blue party colour. But the UML and NC particularly did this to themselves.&nbsp;
An apology and a retirement after the September protests would have saved Oli some dignity, and given the rebranded UML a tiny bit of hope and perhaps a few more electoral wins.&nbsp;
Maybe he could have been remembered fondly as the funny old guy who made one last fatal political error, but now he will be defined by this defeat. Maintaining control and legitimacy in his own party will be hard too.&nbsp;
Contrary to his past combativeness and blaming nefarious foreign conspiracies, Oli gracefully conceded on Saturday, congratulating 'Balen Babu' &nbsp;and wishing him 'a successful five years'.
Balendra Shah and his RSP knew what they were doing. As of Sunday, it has won 118 and leads in 7 other constituencies, a lot of them with similarly wide margins of victory. RSP candidates have even beaten well regarded candidates like Gagan Thapa of the NC and Kulman Ghising of Ujyalo Nepal.&nbsp;

<figure>
 <video controls src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2026030817030_de0fcd0c749f165992c75cbfcb94a19b086018ffcda1d151bd55e71331f4e934.mp4" alt="" width="100%" height="100%"></video>
 <figcaption>Animation: ANUP TAMU</figcaption>
</figure>

Many including this paper questioned the RSP's strategy of choosing popular candidates over competence. But the point of an election is to win it, and there was a short campaign window to put it all together and the RSP pulled it off most successfully.&nbsp;
To be sure, the party should not get too much credit. Its manifesto was broad and bland, and no different than the other older parties.&nbsp;
A big part of the RSP ballots, maybe even most of it, were people voting against the old parties rather than for it. Many seemed to feel that this was coming, and perhaps even hoped for it.
There is also a sense of lingering cynicism. Nepal has had several revolutions and many new political starts and things always seem to end up in the same corrupt hopelessness. There is every possibility that the new RSP government will also go the same way.&nbsp;
The RSP is much bigger than Balendra Shah, although it was his popularity that made this victory possible. Its victory brings with it a sense of hope as all new things do.&nbsp;
<div class="embed-block"><iframe src="https://election-geo-dashboard.pages.dev/" width="100%" height="600" frameborder="0"> </iframe></div>
Not all party members who were elected are going to be as accountable or have integrity. Many of them have a chequered past, saw an opportunity in joining the RSP and took the risk.&nbsp;
What changed things were the events of September. Politicians saw firsthand that 'Power to the People' is not some abstract idea. Get too loose to it, forget that you are ruling and not serving, and you get booted out.&nbsp;
The interim Sushila Karki government deserve credit for delivering on its biggest mandate of holding the election in such a short time frame. The expectation at large was that the polls would be delayed or even scuttled.
In fact, a two-thirds RSP majority is a great opportunity to rethink the country’s political culture and institutionalise change. The point of the government in a democracy is to serve the people. Appointing non-political, competent people worked, at least in the short tenure of the interim government.&nbsp;
Adding layers of bureaucracy and committees and party politics along federal, provincial and local levels heaped resistance to the simple goal of making lives easier for the Nepali.&nbsp;
Nepal is getting a reboot, and the next few months will show whether the country is on the right track with its new generation government.

Balen takes Jhapa and Nepal

“Let's have another cup of tea,” <a href="https://nepalitimes.com/here-now/ujwal-thapa-s-light-shines-on-n0tfurod">Ujwal Thapa</a> of the alternative Bibeksheel Nepali party told the young activist Pukar Bam ten years ago. The two had 12 cups of tea that day, discussing ways to get Nepal out of its political deadend. Thapa contested the Constituent Assembly election in 2013 as an independent from Kathmandu, and formed Bibeksheel Nepali to galvanise youth impatient for change, fielding candidates in the first federal election in 2017. Ujwal Thapa was a political guru who was way ahead of his time, and his protégés were among the RSP’s winning candidates in last week’s election. Pukar Bam was a core member of Bibeksheel Nepali until its dissolution, and won the Kathmandu-4 seat this time. Other former Bibeksheel members who won the election from the RSP in Kathmandu include Ranju Neupane from Kathmandu-1, Sasmit Pokharel from Kathmandu-5, and Biraj Bhakta Shrestha in Kathmandu-8. As votes were counted and the results from Kathmandu began to come in, the candidates paid fulsome tribute to Ujwal Thapa’s mentorship and in inspiring idealistic youth to become a part of an alternative political force. Today, as RSP members of Parliament, they are no longer an alternative, but a part of Nepal’s new mainstream politics. Thapa returned to Nepal after finishing his undergraduate computer science degree in the US at the peak of the Maoist insurgency. His foray into politics began when he traveled to Nepal’s western mountains to train communities in mediation. After the war, he started a computer design company for young entrepreneurs entering the workforce. But he became frustrated with the inability of the second Constituent Assembly to promulgate the Constitution, and the power struggle between political parties played out in the streets that led to frequent shutdowns paralysing the country.  <figure><img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260313120348_d18647d53a3b2927328067c35b2e3e6eecf9aefe13f23384e73a2c17211cd9cb.jpg" data-media-id="editor_1" data-image-id="20260313120348_d18647d53a3b2927328067c35b2e3e6eecf9aefe13f23384e73a2c17211cd9cb" data-rendition-name="original" width="823" height="682" loading="lazy" alt="The RSP's activist DNA"><figcaption>Thapa with Pukar Bam, who was elected to Parliament last week from Kathmandu-4. Photo: PUKAR BAM / FACEBOOK</figcaption></figure>  PROTEST TO POLITICS Ujwal Thapa had had enough, and rallied people from across walks of life, leading peaceful, silent demonstrations proclaiming 'नेपाल खुल्ला छ' against prolonged, violent strikes. Citizens fed up with the main political parties organised to defy the shutdowns. Thapa’s activism and vision for a new Nepal drew disenchanted and previously apathetic youth into politics and to join the Bibeksheel Sajha Party in 2013. Thapa was the pioneer of alternative politics in Nepal, and was leading a youth force long before the GenZ became synonymous with Nepal’s September Storm. He mentored and guided social activists who are today influential youth leaders engaged in non-traditional politics. “Ujwal Thapa, with his entrepreneurial spirit, wanted to address people’s pain-points, and believed that activism was the starting point to alternative politics,” explains <a href="https://nepalitimes.com/opinion/nepal-loses-rare-purpose-driven-leader">Ashutosh Tiwari</a>, former member of Bibeksheel Sajha party. “He sought to build confidence, motivate, and build a community for young people, which drew a lot of people into Bibeksheel.” He adds: “ And while people might say that Bibeksheel never got big, that was never its point. Its function was to be an early talent incubator, which is what it did as evident by the result of this election.” Thapa died in 2021 of complications related to Covid-19, and Bibeksheel had two mergers with Rabindra Mishra’s Sajha Party before being permanently dissolved in 2021. But many of its idealistic members joined Rabi Lamichhane’s RSP, formed just four months before the 2022 federal election. Such was the groundswell of support for change that the RSP became the fourth-largest in Parliament. In 2017, Ranju Neupane (then Ranju Darshana) was the youngest mayoral candidate for Kathmandu at age 21, and contested the federal election in 2022. Pukar Bam himself lost the 2022 election in Kathmandu-1 as an independent.  <figure><img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260313120348_6302a9b534f57191d9a2cb2c31b31449873c6cc27d375344a248dd90847921dd.jpg" data-media-id="editor_3" data-image-id="20260313120348_6302a9b534f57191d9a2cb2c31b31449873c6cc27d375344a248dd90847921dd" data-rendition-name="original" width="1729" height="1365" loading="lazy" alt="The RSP's activist DNA"><figcaption>Photo: SOCIAL MEDIA</figcaption></figure>  Sashmit Pokharel also ran an unsuccessful campaign as an independent candidate in Kathmandu during the 2022 provincial election. Later, he was a member of the City Planning Commission under Balendra Shah when he was elected mayor of Kathmandu in 2022. Last week, the RSP swept the election with a supermajority of 182 seats in Parliament. Voters placed their trust in the party and its leaders to steer Nepal in a new direction after the youth unrest in September. In many ways, Nepal’s youth have decided, just as Ujwal Thapa once did, that enough is enough with corruption, malgovernance, nepotism and dynastic politics. In the <a href="https://nepalitimes.com/review/the-man-who-shook-our-minds">documentary</a> about his life, Dimag Ghochne Manche, released earlier this year, some RSP nominees who previously worked with and were mentored by Thapa spoke of the impact he had on their lives, career, and activism. Among them is Biraj Bhakta Shrestha, former minister of Youth and Sports who is now a second time RSP parliamentarian. “I tell everybody that if it hadn’t been for Ujwal Dai, I would not have gotten into politics,” he says in the film. It would be unfair to attribute all the success of the hard-fought campaigns entirely to Ujwal Thapa’s protégés and former coworkers. But his ethos and vision for Nepal was what inspired them, and will in the coming years be reflected in national politics through the young idealists he mentored. Says Ashutosh Tiwari: “There are many Bibeksheels outside of RSP in constant and open communication with their old friends who have been elected. They will be keeping the lawmakers in check so that they do no stray too far from the values that they grew up with.”

RSP’s activist DNA

This is the 88th episode of Diaspora Diaries, a Nepali Times series in collaboration with Migration Lab providing a platform to share experiences of living, working and studying abroad. Chandra Gurung, Sierra Leone Six of us came to Nepal from Sierra Leone to vote for घण्टी of the RSP. But the six votes were wasted because of the crisis in the Gulf and delayed flights. We arrived the day after the election.&nbsp; The morning we were supposed to fly out, we found out our flight was cancelled, so we had to postpone by four days to figure out an alternate route. Luckily, we did not get stranded in the Gulf like many others. Even though I missed the election, I now look forward to spending time with my family especially to help my children with their studies as their exams are approaching. I am happy because it looks like we will get the outcome we desired and came to Nepal for. Stability is Nepal's most urgent need. If the government is stable and works for five years, they might be able to build change.&nbsp; Fighting corruption, quality education and job creation should be the priority for the new government. We had already advised our families to give the new party a chance. Despite being a new party, the RSP has been able to win the hearts of people. Well-educated people with professional backgrounds have joined the party even though they might not have experience in politics. I first left Nepal in 2008, I am still abroad, and I do not know when I will return. I need to save. I want to see this new government create the conditions to bring us back. In these 18 years, I have not felt like returning. My goal is to make sure I can provide good opportunities to my children. I miss home, going overseas is only to make a living.&nbsp; Suraj Bhandari, Korea I had timed my vacation to vote for Nepal. In our discussions back in Korea, the GenZ protest made those of us overseas want to vote for and bring change. Whichever party it was, we wanted a new one. I had also told my family that if I was unable to arrange my vacation around the election, they should consider voting for new candidates.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260307020344_ebd90331e37dd1c6d37c4d1e35fe58eefcbf1923894cf397aafb7a81b887d63f.jpg" data-media-id="editor_0" data-image-id="20260307020344_ebd90331e37dd1c6d37c4d1e35fe58eefcbf1923894cf397aafb7a81b887d63f" data-rendition-name="original" width="1600" height="900" loading="lazy" alt="Nepali migrants in Korea"> </figure>  We have seen what the old parties have done for the country, they had their chance which they wasted.&nbsp; Leaving Nepal feels different because this time, I am leaving with the hope that Nepal will soon be worth returning to. What I realised after migrating is that when you are away, you have even more love for your country. We overseas youth know the pain of being away and wanted to vote for change.&nbsp; If you earn one lakh abroad, you are willing to work for half that amount back home so you can be with your family. Next time when I come back to Nepal, I want to be able to come for good and not just on vacation. I leave with hope. I hope to return to start my business in Nepal.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260307020344_e835553553e201610afabafa73827a8b7e56d05a6b86c14721f3080d3d5a730f.jpg" data-media-id="editor_1" data-image-id="20260307020344_e835553553e201610afabafa73827a8b7e56d05a6b86c14721f3080d3d5a730f" data-rendition-name="original" width="1600" height="900" loading="lazy" alt="Korea migrant worker"> </figure>  Investing here in a small business is very risky and I hope that changes. I think we have done our part, now it is up to the new government to do its part. They have five years to deliver and if they don’t, we will again have to look for change. I hope history won't repeat itself. When the Maoists came to power, they had brought a similar sense of hope and people believed them and voted. They started off well initially but failed to deliver. I hope that won't happen with घण्टी. Rajendra Kunjeda, Belgium Those of us overseas have attachments back home. But because of the Gulf crisis I was not able to make it on time for the election.&nbsp; When I talk to colleagues in Belgium, the broad consensus among us Nepalis was that we should give the new party a chance. The expectation from the new government is that we need a way out of the rut the country is in. That is what the election was about.&nbsp; When you live in a developed country, you also hope the same for your country. Transformation takes time, but I hope for the best. Not all the old guard was bad, and not all the new guard will be good either. But the new government has to take the country towards development. The expectation is not for overnight change.&nbsp; I was lucky to get a scholarship to study in Europe and have now started working. My degree in agricultural science is relevant for Nepal and the world – you need food to live.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260307020344_1b419bdc71ea6b2b307d5cace49112f976757949b64323fea282986e11231b55.jpg" data-media-id="editor_2" data-image-id="20260307020344_1b419bdc71ea6b2b307d5cace49112f976757949b64323fea282986e11231b55" data-rendition-name="original" width="1600" height="900" loading="lazy" alt="Nepalis in Denmark"> </figure>  I felt bad about not making it on time for the election because I was so excited. Not everyone can return, but what the diaspora wants is evident from social media posts and conversations. I did not influence my parents back home because it is their right to vote for whoever they wanted.&nbsp; During the GenZ movement, the deaths of the students were devastating, but it has also made it clear that the nation is desperate for change. It was an outcome of trying to suppress the change that youth desired.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260307020348_3fa02333f99ff131e84e31c2e990aa40fc1797913b5e6625a18f86d40649ddfa.jpg" data-media-id="editor_3" data-image-id="20260307020348_3fa02333f99ff131e84e31c2e990aa40fc1797913b5e6625a18f86d40649ddfa" data-rendition-name="original" width="1200" height="1600" loading="lazy" alt="Gen Z movement"> </figure>  In Nepal, I have worked with returnees who came back during Covid-19 to see how their skills can be productively utilised in Nepal. There is a lot of potential there which the government needs to prioritise.&nbsp; I have not decided whether to stay overseas or return to Nepal. If day-to-day life and bureaucracy were easier, it would be better. When I am assured that I can sustain myself and get a sense of satisfaction in Nepal, I will consider returning. I need to feel confident in Nepal, feel ढुक्क that if I work hard both I and the country will benefit. This requires a collaborative approach. The Blue sweep means we are on the right path. Sudip Khanal, Denmark I was coming from Denmark to vote. My wife and I left on 28 February but we were stuck for eight days in Istanbul. I was coming to vote for change. I am happy to see that Blue is winning. Even though I did not get to vote, I am glad the country is getting the change it needed.&nbsp; I first went to Denmark in 2022, starting as a student and after graduation I am working. The Nepal embassy in Copenhagen has made things easier to deal with immigration stuff but for a wider population across the world especially the Gulf I also wish the embassies did more.&nbsp; This time our government was not proactive in supporting Nepalis stranded overseas due to the Gulf crisis. Our main wish is that the new government creates new opportunities at home. Education, healthcare and jobs should be the biggest priorities.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260307020344_a774a87b087d49498900728988049634956e8286a61923d9a8cd0de2fafa49ea.jpg" data-media-id="editor_4" data-image-id="20260307020344_a774a87b087d49498900728988049634956e8286a61923d9a8cd0de2fafa49ea" data-rendition-name="original" width="1600" height="900" loading="lazy" alt="Belgoum Nepali migrant"> </figure>  If I could earn up to Rs80,000 back home I would return. I studied business in Denmark but I don’t yet have the guts to return. I am worried about whether there will be a return on investment here and there are no jobs to fall back to. Abroad, I can work for someone else even if I cannot start my own business. I hope change will now come. But this will not happen quickly. All of us back in Denmark supported change. We wanted to come as a group but many students faced constraints like exams or classes. I had no holidays but after the GenZ protests I did not want to waste my vote. Unfortunately, I was not able to return in time but I convinced my parents to give घण्टी a chance for the RSP. Let’s see how things go. ANONYMOUS, Dubai I lived in Dubai for five and a half years, returned to Nepal for a year, and then remigrated two years ago. It was convenient that my holidays and the election coincided.&nbsp; The new government should provide proper job opportunities back home. There are 4-5 people in a house, you need at least Rs50,000 to live comfortably in Nepal. When someone is sick, where can we go?&nbsp; Companies abroad are not always good about leave. You are promised something here, and get another job abroad. Embassies do not always listen to us, like the Philippine embassy.&nbsp; People get tired and give up.&nbsp; I am updating election results on my phone but I am more worried about my flight which is likely to be cancelled because of the situation in the Gulf. The airline just says ‘it is not cancelled till now’, but they do not tell you when you can fly.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260307020348_399b70503f4e25a35e21574985d0d188285b457c38534ae6d95b35e4546b5683.jpg" data-media-id="editor_5" data-image-id="20260307020348_399b70503f4e25a35e21574985d0d188285b457c38534ae6d95b35e4546b5683" data-rendition-name="original" width="1600" height="900" loading="lazy" alt="Nepali migrants"> </figure>  I paid Rs5,000 to come here from Dhanusa just to be told there are no flights. It is simple things like this that need improvement. We have watched politicians for many years and they kept youth unemployed. How can you love any government that has killed kids?&nbsp; The new ones say they will do something, lets see. Foreign labour migration has helped me. I cannot earn even Rs10,000 a month in my village. How will I support my children? If I go, I can send them money. My family is happy. I work hard for them. If my दुख्ख keeps 4-5 people in my family सुख्ख it is all right, isn’t it?

NEPSE

Nepal election live results

Balen takes Jhapa and Nepal

RSP’s activist DNA

The diaspora and Nepal's Blue Sweep