KATHMANDU: Nepal’s stock market experienced a correction this week after briefly crossing the psychological 3000-point mark.

The NEPSE index, which hit a high of 3002 on Tuesday, closed the week with a total drop of 60 points.

The five-day trading week ran from Sunday, July 27 to Thursday, July 31, during which the index declined on three days and rose on two. On average, NEPSE dropped 12 points per day.

Despite the index slipping, trading volume remained robust. A total of Rs 96.89 billion worth of shares were traded during the week, with a daily average turnover of Rs 19.38 billion.

In total, 217.8 million shares changed hands over five days, averaging 40.36 miion shares per day.

There were 842,000 transactions throughout the week, averaging 168,000 daily.

Shares of around 322 companies were traded each day on average.

The week opened on Sunday, July 27, with NEPSE falling by 18.44 points to close at 2964.20. The index fluctuated between 3013 and 2958 points.

On that day alone, shares worth Rs 26.58 billion were traded.

On Monday, July 28, the market rebounded slightly. NEPSE rose by 7.10 points to close at 2971.31. The index moved between 2917 and 2977 points. However, turnover dropped to Rs 19.36 billion, with 40.41 million shares traded across 321 companies.

Tuesday, July 29, saw the NEPSE cross the 3000-point mark, climbing by 30.76 points to close at 3002.

The index ranged between 2976 and 3028 points. Despite this milestone, trading volume slipped further to Rs 18.53 billion, with 41.8 million shares traded in 157,000 transactions involving 321 companies.

On Wednesday, July 30, the upward momentum reversed. NEPSE fell sharply by 47.93 points to close at 2954 — a 1.59% decline. The index ranged between 2947 and 3020 points.

Trading volume also declined to Rs 16.44 billion. That day, 36.4 million shares were traded in 141,000 transactions involving 318 companies.

On the final trading day, Thursday, July 31, NEPSE continued its downward trend, dropping 31.50 points to close at 2922.63.

The index fluctuated between 2915 and 2967 points. Turnover shrank further to Rs 15.99 billion, with 36.8 million shares traded in 168,000 transactions across 318 companies.

In summary, this week was marked by high volatility. Although NEPSE managed to break the 3000-point barrier, sustained investor caution and profit booking led to a market correction.

As the week ended on a downward note, traders are likely to enter the new month with a wait-and-see approach.