The Nepal Stock Exchange (NEPSE) index, which had closed 0.99% higher on the previous trading day, dropped by 2.19% or 58.05 points on Tuesday, March 25, ending the day at 2,582.73.
This is the first time in nearly two and a half months that the index has dropped below 2,600. It last closed at 2,588.62 on January 16.
In the past 16 trading days, the index has closed in the green only twice. Prior to the downturn, the market saw a nine-day rally, rising 211.78 points.
Despite the decline in the index Tuesday, trading activity surged, with turnover surpassing Rs 5.18 billion, an increase from the previous day’s Rs 4.48 billion.
In total, more than 11 million shares were traded across 62,021 transactions.
All major indices ended the day in the red, with the Sensitive Index dropping by 1.90%, the Float Index decreasing by 2.20%, and the Sensitive Float Index falling by 1.91%.
Among individual stocks, no company posted a gain of more than 5%. The 9.5% NCC Debenture 2086 (NCCD86) led the gainers, with a 4.52% increase in its share price. In contrast, Narayani Development Bank Limited (NABBC) saw the largest decline, with an 8.73% drop.
In terms of turnover, Himalayan Reinsurance Limited (HRL) led the pack, followed by Nepal Reinsurance Company Limited (NRIC) and United Modi Hydropower Ltd. (UMHL).
All 13 sectoral indices ended the day in negative territory, with the Finance Index experiencing the steepest decline of 3.50%.
