Kathmandu: Nepal’s stock market saw a steep decline on Wednesday, with the NEPSE falling by 74.73 points, or 2.62 percent, to close at 2,776.36.
The market began slipping from the opening bell and had dropped to around 2,766 points by 2:30 PM. Although there was a brief recovery attempt that pushed the index up to 2,788 points by 2:48 PM, the gains could not be sustained, and the index ultimately closed significantly lower.
This comes a day after the market had posted a modest gain on Tuesday, rising by 19.70 points to settle at 2,851. Before that, however, the market had been on a declining trend, losing 47.71 points on Monday and 71.05 points on Sunday.
Trading activity remained strong despite the drop, with total turnover reaching Rs 12.10 billion, up from Rs 10.93 billion recorded on Tuesday.
Out of the traded companies, only 13 saw their share prices increase, while 255 declined, reflecting broad-based selling pressure across the market.
Sector-wise, the finance index dropped by 3.03 percent, development banks fell by 3.18 percent, and the banking sector declined by 2.31 percent. All other sector indices also ended in negative territory, indicating a widespread market downturn.
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