December 3: The Nepal Stock Exchange(NEPSE) dropped 7.29 points or 0.39% and continued its downward trend, closing at 1851.23 on the first trading day of the week on Sunday.

The market has been on the bearish mode for quite a long time for various reasons. Seasoned investors and stock analysts attribute to the today’s fall to the negative psychology prevalent among the investors.

Veteran investor Prem Oli said, “The stock market may witness sideways for one more year if the Nepal Rastra Bank does not shift its policy on the stock market”. Oli held the regulators including the NRB for the scary fall of the market.

A total of 3,419,073 units of shares exchanged their hands through 36,977 transactions. As many as 293 scrips were traded during today’s trading session, amounting to Rs 96 crores.

Sonapur Minerals and Oil Limited(SONA) had the highest turnover of 6.95 crores, closing at a market price of Rs 295 per unit of share. Similarly, Three star Hydropower Limited(TSHL) experienced the highest gain of 9.63%, closing at Rs 387.

Mountain Energy Nepal(MEN) and United IDI Mardi RB Hydropower Limited(UMRH) lost 9.99% and closed at Rs 530 and Rs 273 respectively.

Across sector indices, all sectors except Microfinance Index closed in the red territory. Mutual Fund lost the highest 1.25%, while Manufacturing and Processing lost the lowest by 0.22%.