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Market Correction: Stock Index Settles at 2,770 After Volatile Trading Session

The benchmark index fell 0.93% to settle at 2,770.26 today, with total market turnover reaching Rs 6.53 billion.

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Market Correction: Stock Index Settles at 2,770 After Volatile Trading Session

The domestic equity market encountered significant selling pressure on Tuesday, as the NEPSE index surrendered 26.16 points to settle at 2,770.26. Despite a constructive opening that saw the index test the 2,812 resistance level, an absence of sustained institutional buying triggered a broad-based retreat, erasing the modest gains achieved in the preceding session. Trading activity remained robust, with a cumulative turnover of Rs 6.53 billion, suggesting that the day's downturn was a high-volume correction rather than a passive slide. Market analysts attribute this 0.93% contraction to a technical "profit-booking" phase, as investors recalibrate their portfolios following the recent release of third-quarter bank earnings. With the total market capitalization now valued at Rs 47.24 trillion, the market’s immediate trajectory will likely depend on whether the 2,750 support level can withstand further bearish sentiment in the coming days.

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