The Nepal Stock Exchange (NEPSE) index dropped for the sixth consecutive trading day on Sunday, March 23, by 54.62 points or 2.04%, to close at 2,614.68.

The index had declined 0.47% last Thursday, following losses of 0.55% on Wednesday, 0.28% on Tuesday, 0.37% on Monday, and 0.79% last Sunday.

A 0.63% surge previous Wednesday had ended a seven-day slide which wiped out 171.06 points. Prior to that, the market rallied for nine days, gaining 211.78 points.

Despite the downturn, trading activity surged on Sunday, with turnover exceeding Rs 6.32 billion, compared to over Rs 4.56 billion in the previous session. More than 12 million shares were traded in 72,265 transactions.

All three major indices ended lower. The Sensitive Index declined 1.87%, the Float Index dropped 2.05%, and the Sensitive Float Index shed 1.91%.

Among individual stocks, no company managed to gain more than 4%. NMB 50 (NMB50) led the gainers, rising 3.94%, while Mithila LaghuBitta Bittiya Sanstha Limited (MLBBL) hit the lower circuit limit, to become the worst performer.

In terms of turnover, Himalayan Reinsurance Limited (HRL) led the list, followed by NRN Infrastructure and Development Limited (NRN) and Nepal Reinsurance Company Limited (NRIC). 

All the 13 sectoral indices ended the day in red with the Finance index suffering the steepest loss of 2.98%.