Share Market Gains Momentum in March with Over Nu 38M Traded

The domestic capital market maintained a steady upward trajectory last month (March 2026), with trading activity reflecting growing investor confidence and deeper engagement across both conventional and digital platforms.
According to the Royal Securities Exchange of Bhutan (RSEB), a total of 1,001,887 shares were traded during the month, generating a market turnover of Nu 38.23 million. The performance signals a gradual strengthening of Bhutan’s equity market, which continues to evolve despite its relatively small size.
Market participation remained resilient, with 1,676 trades executed over the reporting period. A total of 487 investors were actively involved in trading, indicating a stable and consistent base of market participants contributing to overall liquidity. Trading activity was distributed across 16 listed securities, suggesting moderate diversification within the market and continued investor interest across sectors.
While the scale of Bhutan’s capital market remains modest by global standards, the steady flow of transactions and sustained investor engagement is a signal of a maturing financial ecosystem.
A key feature of the March performance was the relative balance between buying and selling activity, although the sell side marginally outpaced the buy side in both volume and value.
On the buy side, investors acquired 631,418 shares, amounting to Nu 21.16M. This sustained level of demand reflects continued confidence in equities, with investors positioning themselves in anticipation of medium- to long-term gains. In smaller markets such as Bhutan, consistent buying activity is often interpreted as a positive indicator of underlying investor sentiment.
Conversely, the sell side recorded a slightly higher volume of 657,478 shares, with a total transaction value of Nu 22.31M. The marginally higher level of selling suggests that some investors may have taken advantage of price movements to realize gains or rebalance their portfolios. However, the narrow gap between buy and sell figures indicates that the market remains broadly stable, without signs of significant imbalance or stress. Such equilibrium between demand and supply is essential in maintaining orderly market conditions, particularly in a developing exchange where liquidity constraints can amplify volatility.
Beyond trading volumes, one of the most notable trends emerging from the March data is the increasing adoption of mobile-based trading platforms. A total of 359 users accessed the market through mobile channels, underscoring a clear shift toward digital participation.
According to Tshering Dorji, a Phuentsholing based financial advisor, this is a reflection of a broader change in Bhutan’s financial landscape. “The RSEB has said that Technology is playing an increasingly important role in expanding access to investment opportunities. The rise in mobile users is expected to lower barriers to entry, enabling greater participation from retail investors, including those in geographically remote areas, which is true.”
This development is also a critical step toward enhancing financial inclusion. As mobile trading platforms become more accessible and user-friendly, they are likely to attract a new generation of investors, thereby widening the investor base and improving market depth.
“Digital platforms are transforming how people engage with financial markets. In Bhutan, this shift has the potential to democratize investment and bring more participants into the formal financial system,” Tshering Dorji, said.
Despite these positive trends, experts caution that sustaining growth in Bhutan’s capital market will require continued efforts on multiple fronts. Enhancing financial literacy remains a key priority, as a well-informed investor base is essential for long-term market stability. Additionally, the introduction of new financial instruments and investment products could help diversify opportunities and attract a broader spectrum of participants, including institutional investors.
Tshering added that regulatory support and policy innovation will also play a vital role in fostering a more dynamic market environment. “Strengthening market infrastructure, improving transparency, and ensuring robust investor protection mechanisms will be crucial in building trust and credibility.”
In short, the March performance reflects a cautiously optimistic outlook for Bhutan’s capital market. While trading volumes and values remain relatively modest, the steady increase in user participation, balanced trading activity, and growing reliance on digital platforms point to a market that is gradually gaining momentum.
Experts say that RSEB’s monthly indicators such as these provide valuable insights into evolving investor behavior and the overall health of the market. “With sustained reforms and increased participation, the country’s capital market is poised to play a more prominent role in supporting economic growth and investment in the years ahead,” Tshering said.