Kathmandu: The NEPSE index witnessed a sharp decline on September 9, falling by 55.86 points, which represents a 2.06% decrease, bringing the index to 2,646.03. Despite significant trading activity, with a total turnover of Rs. 9.43 billion and over 21 million shares exchanged across 111,986 transactions, the market experienced a general downturn.

Sector-wise, the Banking SubIndex dropped by 34.27 points (-2.28%) to close at 1,465.53, while the Development Bank Index declined by 101.69 points (-1.87%) to settle at 5,321.84. The Finance Index also saw a notable fall of 77.34 points (-2.27%), finishing at 3,323.82. The Hotels and Tourism Index faced one of the largest declines, dropping by 184.28 points (-2.67%) to close at 6,712.35. Meanwhile, the Hydropower Index decreased by 81.04 points (-2.44%) to settle at 3,236.92.

In the insurance sector, the Life Insurance Index dropped significantly by 333.89 points (-2.49%), closing at 13,069.27, while the Non-Life Insurance Index also recorded a sharp decline of 333.08 points (-2.45%), ending at 13,258.42. The Microfinance Index experienced a reduction of 122.94 points (-2.33%) to finish at 5,152.56.

Smaller decreases were observed in the Investment, Mutual Fund, and Trading indices, reflecting a widespread downturn in the market. The overall market sentiment remained bearish, with many sectors facing substantial corrections.