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Nepal Stock Exchange (NEPSE) on Wednesday declined 2.95 points to close at 2,804.17 points.

The secondary market opened at 2,807.31 points and inclined by four points in the pre-opening session. The market came down to the day’s high at 2,762.97 points within one and half hours. The market spiked by 15 points in the next 14 minutes and remained almost stable for the next around two hours.

After the news of resignation of Home Minister Sudan Gurung unveiled, the market bounced back and went to the day’s high 2,818 points in the last seven minutes. The market however was corrected by 14 points in the remaining period before it closed for the day.

Five sectors were the gainers, as non-life insurance surged by the largest of 42.73 points. Of the eight losers, hotels and tourism plunged by the largest of 199.74 points.

The sensitive index which measures the performance of ‘A’ class companies inclined 0.65 points. Daily turnover increased to Rs 7.81 billion from Rs 5.77 billion.

Among the individual companies, 121 were the gainers and 138 were the losers. National Hydro Power Company Limited had the largest turnover of its shares worth Rs 413.47 million.

Hotel Forest Inn Limited with a decline of 10.75 percent in its market value was recorded as the highest loser. Palpa Cement Industries Limited stood as topmost gainers of 15 percent.