After surging for three consecutive trading days, Nepal’s stock market reversed course on Tuesday, June 3, falling 1.32 percent, or 35.73 points.

The benchmark index opened at 2,694 points, hit an intraday high of 2,699.28, and dropped to a low of 2,656.34 before closing at 2,658.93 points.

Market breadth remained weak, with only 34 companies registering gains, while 214 stocks declined.

Among the top gainers, Pure Energy hit the upper circuit limit, rising by Rs 38.50 to close at Rs 423.50. Om Megashree Pharmaceuticals, to, rose by 10 percent (Rs 164.90), ending the day at Rs. 1,814.30.

In contrast, Saptakoshi Development Bank suffered the steepest drop, shedding 4.89 percent, or Rs. 49.86, to close at Rs. 970 per share.

Trading volume also declined, reflecting subdued investor sentiment. On Monday, over 22 million shares valued at Rs. 9.22 billion changed hands. On Tuesday, volume fell to 15.5 million shares, worth just over Rs. 6.67 billion.

According to brokers, the pullback in both price and volume suggests that investors remain cautious and unconvinced about the market’s short-term direction. However, they note that any positive policy shifts or investor-friendly moves could quickly restore momentum.

Radhi Hydropower Company topped the turnover chart, followed by Universal Power Company, reflecting continued interest in the hydropower sector.

All sectoral indices closed lower, with the banking sector posting the sharpest drop of 2.34 percent. Mutual funds saw the mildest decline, down just 0.01 percent.

The day’s decline wiped out Rs. 59.49 billion in investors’ wealth. Total market capitalization, which stood at Rs. 4.487 trillion the previous day, fell to Rs. 4.428 trillion at the end of the trading