KATHMANDU: The stock market fell 38.10 points on Thursday, closing at 2,781 after briefly staying above 2,800 points earlier in the day.

Despite the decline, trading turnover rose from Rs 7.68 billion to Rs 8.09 billion. Among listed companies, 24 saw gains while 227 declined, and most sectoral indices fell.

Development banks led sector losses with a 2.38% drop, followed by finance (-1.97%), life insurance (-1.65%), manufacturing (-1.70%), and hotel & tourism (-1.60%). Non-life insurance edged up 0.01%.

Top gainers included Development Hydropower (+10%), Mailungkhola Hydropower (+3.62%), and Three Star Hydropower (+3.41%), while Oriental Hotel (-4.71%), Lumbini Development Bank (-4.18%), and Shangrila Development Bank (-3.87%) posted the steepest losses.

Most traded stocks were Nepal Reinsurance, Himalayan Reinsurance, Himalayan Distillery, Shivam Cement, and United Modi Hydropower.