The Nepal Stock Exchange (NEPSE) dropped for a fourth consecutive session on Wednesday, April 23, shedding 1.20%, or 32.38 points, to close at 2,655.94.

The latest decline followed a 0.36% drop on Tuesday, a 0.28% fall on Monday, and a 0.61% decrease on Sunday. Sunday’s dip marked the first loss since the beginning of the Nepali Calendar Year 2082 on April 14. Prior to that, NEPSE had logged three straight gains, rising 1.01% on April 15, 0.26% on April 16, and 0.98% on April 17.

Turnover also fell, exceeding Rs 7.57 billion on Wednesday, down from over Rs 8.32 billion the previous session.

Technical indicators showed a red candlestick with a large body and a small tail, suggesting strong selling pressure and limited buying interest. Market analysts said the delay in the appointment of a new central bank governor may be contributing to investor uncertainty.

The candlestick pattern points to a possible continuation of the downward trend, though analysts expect occasional minor rebounds.

A total of 18.48 million shares were traded across 308 scrips in 64,140 transactions. Of the 246 listed companies that traded, 217 declined, 28 advanced, and one remained unchanged.

All major sub-indices ended lower. The Sensitive Index fell 1.21%, the Sensitive Float Index dropped 1.27%, and the Float Index slipped 1.23%.

Nepal Micro Insurance Company Ltd (NMIC) and Crest Micro Life Insurance Ltd (CREST) were the top gainers, each climbing 9.99%. On the losing end, Corporate Development Bank Ltd (CORBL) slumped 9.06%, making it the day’s biggest decliner.

Radhi Bidyut Company Ltd (RADHI) led in turnover, followed by NRN Infrastructure and Development Ltd (NRN) and Ngadi Group Power Ltd (NGPL).

Among the 13 sectoral indices, only two posted gains. The Mutual Fund Index rose 0.21%, while the Development Bank Index registered the steepest loss, falling 2.09%.

Total market capitalization declined to Rs 4.41 trillion from Rs 4.47 trillion the previous day.