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money being lucked up is right,

but number may have increased but value has not. Plus, investor/bank has more money than 2 year back.

Seasonal calendar/diagram has not been working at NEPSE this year. Neither political impact could be that much predicted nor company's performance/dividends and results are well reflected in pricing of stocks.. Similarly, technical analysis also has been working much less.

How all this has been happening?

The years since 1972/73 are eventful years. Thre was massive flow of fund in the market due to increase of paid up capital of BFIs/Insurance companies. This money is retention money and goes out of circulation and stays with companies. This is one side impacting on supply side of money that has influenced in limiting demand. The other side is increased supply of shares which resulted in influencing prices. The per share earnings are basically not comparable but impact psychologically. A Standard Chartered Bank with 2 Arab capital and now a 4 Arab capital company and from this year an 8 Arab company may have same or better ROE but with much reduced EPS. However, in a market heavily influenced by traders, this could generate a big rumor that SCB is a penny level company.

Therefore, for me the core issue this year is demand and supply that has been impacting the price, not seasonal calendar or even political course or manipulations. Though, the peripheral factors have influenced the price of certain companies for certain period of time, the overall impact is that of demand and supply and certainly the herd mentality also has added fuel to fire.