The free NEPSE course

Written for someone starting from nothing on the Nepal Stock Exchange (NEPSE). It goes in the order the market will actually ask you to know things — what a share is, then the accounts you need, then what a trade costs, then how to judge a company. No sign-up and no fees, now or later.

1. 01 How the market actually works

   5 lessons · 34 min

   What a share is, why companies list, and how NEPSE matches your order with someone else's. Trading days, market hours and the pre-open session.

   • 1.1What a share actually isA share is a slice of a business, not a lottery ticket with a price attached.7m
   • 1.2Why companies list on NEPSECompanies sell shares to raise money they do not have to pay back. Understanding why they list tells you what to expect from them.6m
   • 1.3How your order gets matchedNobody sells you a share. You are matched against another ordinary person who wanted the opposite of what you wanted.8m
   • 1.4When the market is openNEPSE trades Sunday to Friday. Saturday is closed. The session runs 11:00 to 15:00, with a pre-open auction from 10:30.6m
   • 1.5What actually moves a pricePrices move when the balance between buyers and sellers changes. Everything else is a reason why that balance changed.7m

2. 02 Your accounts: bank, Demat, Mero Share, TMS

   6 lessons · 34 min

   The four accounts every investor needs, what each one is for, and how to open them without visiting an office twice.

   • 2.1The four accounts, and why there are fourBank, Demat, Mero Share and TMS each do one job. Knowing which does what saves you a wasted trip.6m
   • 2.2The bank accountWhere your money sits, and where sale proceeds and dividends land.4m
   • 2.3The Demat accountWhere your shares actually live, in electronic form, in your name.6m
   • 2.4Mero ShareYour window into what you own, and how you apply for IPOs.6m
   • 2.5The TMS accountThe broker's trading system — the only place you actually place a buy or sell order.6m
   • 2.6Opening all four without a second tripWhat to carry, in what order, and the details that get applications rejected.6m

3. 03 Brokers, fees and settlement

   5 lessons · 30 min

   Choosing a broker, commission slabs, DP charges, SEBON fees, and what settlement means for your money.

   • 3.1What a broker actually doesA broker is a licensed intermediary, not an adviser. Knowing the difference protects you.5m
   • 3.2What a trade actually costsFour separate charges sit between the price you see and the money that leaves your account.8m
   • 3.3Choosing a brokerCommission is set by regulation, so brokers compete on everything else.5m
   • 3.4Settlement: when the shares are really yoursExecution and settlement are different moments. The gap decides when you can sell.6m
   • 3.5Placing your first trade properlyA checklist to run before your first order, and what to expect afterwards.6m

4. 04 IPOs, FPOs and rights shares

   7 lessons · 46 min

   Applying through ASBA, allotment odds, book building, and what bonus and right shares do to your average cost.

   • 4.1What an IPO actually isA company selling part of itself to the public for the first time — and why that is not the same as a bargain.7m
   • 4.2Applying through ASBA, step by stepYour money is blocked, not transferred, and only debited if you are allotted shares.7m
   • 4.3Allotment: why a bigger application rarely helpsWhen an issue is heavily oversubscribed, allotment is effectively a lottery for a minimum lot.6m
   • 4.4FPOs and book buildingA further issue by an already-listed company, and the method used to price it.6m
   • 4.5Right sharesExtra shares offered to existing holders, usually cheap — and ignoring them costs you.7m
   • 4.6Bonus shares and cash dividendsOne gives you more shares and adjusts the price down; the other puts money in your bank account.7m
   • 4.7What listing day really looks likeThe first day of trading is the least informative day, and the worst one to make decisions on.6m

5. 05 Reading the price screen

   6 lessons · 38 min

   LTP, open, high, low, previous close. Circuit breakers, price ranges, market depth, and why volume is the honest number.

   • 5.1The numbers on the screenLTP, open, high, low, previous close — what each one is, and which one actually matters.6m
   • 5.2Market depth: what you can actually trade atThe order book shows real buyers and sellers waiting, and it is the only honest answer to 'what price can I get?'7m
   • 5.3Circuit limits and why they can trap youA daily band that stops a price moving too far — and can make a stock impossible to exit.7m
   • 5.4Volume is the honest numberPrice says what happened. Volume says how much conviction was behind it.6m
   • 5.5The floorsheetNepal publishes broker-level trade detail that most markets keep private. Here is what it can and cannot tell you.6m
   • 5.6Reading a chart honestlyTimeframe changes the story. The same stock can look strong and weak at once.6m

6. 06 Fundamental analysis

   8 lessons · 55 min

   EPS, P/E, book value, ROE and dividend history, read straight from a Nepali company's quarterly report.

   • 6.1Where the numbers come fromListed Nepali companies must publish quarterly. Those reports are the raw material for everything in this chapter.6m
   • 6.2EPS and P/EProfit per share, and how many rupees you are paying for each rupee of it.7m
   • 6.3Book value and return on equityWhat the company owns net of debts, and how well it uses it.7m
   • 6.4Reading a bankBanks dominate NEPSE, and they are judged on numbers no other sector reports.8m
   • 6.5Reading a hydropower companyA different business entirely: long build, fixed price, and the river decides the revenue.7m
   • 6.6Dividends as evidenceA dividend history is one of the few things in a report that is hard to fake.6m
   • 6.7Spotting trouble in the accountsThe warning signs that show up before the price does.7m
   • 6.8Putting a value on itValuation is a range with assumptions, not a number. Anyone giving you one number is hiding something.7m

7. 07 Technical analysis and timing

   7 lessons · 47 min

   Candlestick structure, support and resistance, moving averages, RSI, and the discipline of a written trade plan.

   • 7.1What technical analysis is forIt answers a different question from Chapter 6, and confusing the two is the common error.6m
   • 7.2Trend, support and resistanceThe three ideas that everything else in technical analysis is built on.7m
   • 7.3Candlesticks in practiceFour observations let you read most patterns without memorising any of them.7m
   • 7.4Moving averages in practiceThe one indicator worth starting with, and what its lag really costs you.7m
   • 7.5RSI and momentumWhat overbought actually means, and the mistake almost everyone makes with it.7m
   • 7.6The written trade planDecide the entry, the exit and the size before you are in the position — because after is too late.7m
   • 7.7What technical analysis cannot doThe honest limits, and why knowing them makes the tools more useful rather than less.6m

8. 08 Risk, portfolio and taxes

   6 lessons · 40 min

   Position sizing, diversification that isn't fake, capital gains tax by holding period, and records the tax office will accept.

   • 8.1Position sizingThe single decision that determines whether you survive being wrong.7m
   • 8.2Diversification that is not fakeTen Nepali bank stocks is one bet held ten times.7m
   • 8.3Capital gains taxHow it is charged, when it is withheld, and why the holding period matters.7m
   • 8.4Keeping records the tax office will acceptWhat to keep, from your first trade, and why reconstructing it later is painful.6m
   • 8.5The part that is about youThe predictable ways your own judgement will work against you.7m
   • 8.6Where to go from hereWhat this course covered, what it deliberately did not, and what to do next.6m