Stock Market Drops 48 Points After Reaching 4-Year High, Investors Nervous

The Nepal Stock Exchange (NEPSE) index dropped by 47.93 points on Wednesday, closing at 2,954.51 points. This decline comes after the market recently reached its highest level in four years, causing anxiety among investors. The total turnover for the day stood at NPR 16.44 billion.

Market Opens Weak and Continues Downward Trend

On Tuesday, the market had closed at 3,002.07 points. However, as soon as trading began on Wednesday, the index started falling and continued its downward trend throughout the day. By the end of the session, the market had dropped by more than half a percent.

Mixed Performance Among Companies

Out of the traded companies, only 23 saw their share prices increase, while 226 companies experienced a decline in value. Except for mutual funds and a few other groups, all major sectors faced significant losses. Despite the sharp drop, no company triggered the negative circuit breaker. However, Sanima Energy and Trade Tower Limited hit the positive circuit breaker.

Top Traded Stocks

Himalayan Reinsurance Company, Himalayan Distillery, and Shivam Cement were among the most actively traded stocks on Wednesday. The market's volatility has left investors cautious, with many closely watching for signs of stabilization in the coming sessions.