KATHMANDU: The Nepal Stock Exchange (NEPSE) continued its downward trend on Tuesday, falling 5.30 points to close at 2,594.27 points, even as trading activity picked up significantly. The decline follows a sharper 19.13-point drop recorded in the previous session.

Total market turnover rose to Rs 4.10 billion from Rs 3.23 billion a day earlier. Of the 277 companies traded, share prices of 78 companies advanced, while 187 declined and 12 remained unchanged.

Only two sectoral indices ended in positive territory. The Development Bank sub-index gained 0.08 percent, while Non-Life Insurance rose 0.36 percent. All other sectors closed lower, with Finance declining 0.91 percent, Hotel and Tourism 0.71 percent, Trading 0.57 percent, Hydropower 0.42 percent, Manufacturing and Processing 0.29 percent, Microfinance 0.27 percent, Others 0.18 percent, Life Insurance 0.09 percent, Investment 0.08 percent and Banking 0.03 percent.

Hydropower stocks dominated trading, accounting for Rs 2.49 billion, or 60.66 percent, of total turnover. Commercial banks recorded turnover of Rs 320 million, while the Manufacturing and Processing sector generated Rs 380 million.

Among individual stocks, recently listed Sarbottam Paints posted the largest gain, rising 14.99 percent. Crest Micro Life Insurance climbed 14.95 percent, followed by NADEP Laghubitta at 6.00 percent, Everest Color at 5.71 percent and Kalinchowk Hydropower at 5.56 percent.

On the losing side, Dhaulagiri Laghubitta dropped 10.07 percent, while Unnati Sahakarya Laghubitta fell 4.23 percent and Ridgeline Energy declined 3.86 percent.

Makar Jitumaya Suri Hydropower led companies by turnover, followed by Reliance Spinning Mills, Solu Hydropower, Super Madi Hydropower, Ridi Power, Ankhu Khola Jalvidhyut Company and Chandragiri Hills.