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Nepal Stock Exchange (NEPSE) on Sunday nosedived 71.05 points to close at 2,950.16 points, on the first day trading after Balen government took the charge.

NEPSE opened at 2,950.16 points, initially adding eight points in the pre-opening session. The index however went to a gradual fall in the remaining time to reach the day’s low at 2,873.97 points in the last one minute. The market recovered around six points in the remaining period before it closed for the day.

All the 13 groups were the losers. Life insurance shed the largest of 300.50 points as seven sectors lost three-digit points.

The sensitive index which measures the performance of ‘A’ class companies also declined by a notable 12.96 points. Daily turnover increased to Rs 15.03 billion from Rs 13.16 billion on selling pressure in the intraday trade.

Among the individual companies, only 10 were the gainers while 255 had their market value declined. Ridi Power Company had the largest turnover of its shares worth Rs 711.17 million.

Unique Nepal Laghubitta Bittiya Sanstha Limited with a decline of 6.17 percent in its market value was recorded as the highest loser. Three companies including Reliance Spinning Mills, Super Khudi Hydropower Limited and Suryakunda Hydro Electric Limited were the topmost gainers of 10 percent.