KATHMANDU: The downward slide of the Nepal Stock Exchange (NEPSE) showed no signs of stopping on Wednesday, as the benchmark index registered a double-digit loss on the third trading day of the week.

Following a series of fluctuations throughout the session, NEPSE ultimately shed 14.45 points, or 0.54 percent, to close at 2,660.02 points. This follows a broader weekly slump, adding to a sharp 26.16-point drop on Tuesday and a minor 1.46-point dip on Monday.

Other major indices closely mirrored the market’s descent; the Sensitive Index declined by 0.56 percent (2.60 points) to settle at 458.88 points, while both the Float Index and the Sensitive Float Index dropped by 0.53 percent.

Despite the general downturn, market activity saw a marginal increase with the daily turnover expanding to Rs 4.41 billion, up from Tuesday’s Rs 4.36 billion but slightly below Monday’s Rs 4.44 billion. A total of 10,777,582 shares belonging to 338 companies changed hands across 72,917 transactions.

The market breadth was overwhelmingly negative, as share prices of 202 companies declined, 10 remained unchanged, and only 62 managed to post gains. Among individual performers, Tushar Pikhuwakhola Hydropower Company Limited and Yambaling Hydropower Limited brought maximum cheers to their investors, both hitting the 10 percent positive circuit limit.

Conversely, Sopan Pharmaceuticals Limited emerged as the biggest loser, shedding 5.05 percent of its share value. Ankhu Khola Hydropower Limited topped the liquidity chart with the highest daily turnover of Rs 296.23 million, while Kumari Dhanabriddhi Yojana led in terms of volume with 906,700 traded units, closing at Rs 10.95 per unit.

Sectoral performance reflected a widespread bearish sentiment, leaving 11 out of 13 sub-indices deep in the red. Only the Trading and Finance sectors managed to weather the storm, booking gains of 0.81 percent and 0.19 percent, respectively.

On the losing side, the Manufacturing and Processing sector took the hardest hit, plunging by 1.10 percent, followed closely by the Others sector which dropped 1.02 percent. Major heavyweights also dragged down the index, with Non-Life Insurance slipping 0.64 percent, Hydropower and Hotels & Tourism both down 0.62 percent, Development Banks shedding 0.57 percent, and Commercial Banks easing by 0.48 percent.

Other sectors like Life Insurance (-0.46%), Mutual Funds (-0.44%), Microfinance (-0.38%), and Investment (-0.32%) also closed lower, capping off a challenging day for equity investors.