Kathmandu: The Nepal Stock Exchange (NEPSE) index closed lower on Monday shedding 12.26 points to settle at 2,711.76 amid broad based selling pressure across the market.

According to market data investor sentiment remained weak throughout the trading session with the benchmark index witnessing a gradual downward trend after an early surge. The index touched an intraday high above the 2,720 point level before slipping steadily and ending near the day’s low.

Despite the decline, market activity remained robust. The total turnover reached Rs. 4.41 billion while more than 10.73 million shares changed hands during the session.

Market breadth was overwhelmingly negative with 189 companies recording losses compared to 72 gainers while 12 stocks remained unchanged. The sharp imbalance between advancing and declining stocks indicates widespread selling pressure across sectors.

Two stocks were traded at the positive circuit level during Monday’s trading session. Shares of Sopan Pharmaceuticals and Apollo Hydropower reached the positive circuit limit while gains in other advancing stocks remained below 5 percent.

Among the losing stocks Green Development Bank recorded the steepest decline with its share price falling by 7.94 percent. Meanwhile, Rawa Energy Development posted a loss of more than 7 percent during the session.

In terms of turnover, Ankhu Khola Hydropower Company emerged as the top-traded stock with transactions worth Rs 388.5 million. Likewise, more than Rs 270 million worth of 10.25% NBBL Debenture 2085 bonds changed hands while the turnover of Laxmi Sunrise Bank exceeded Rs 225 million.

Of the 13 sectoral indices, all except one ended the day in negative territory. The Manufacturing and Processing sub index was the only sector to register a marginal gain. The Others sub-index recorded the highest decline of 1.82 percent while the Trading and Finance sub-indices fell by more than 1 percent each.