Kathmandu-The Nepal Stock Exchange (NEPSE) on Sunday witnessed a double-digit decline, falling by 27.59 points to close at 2,614.55 points.

A total of 15.989 million shares of 324 companies were traded during the session, resulting in a total turnover of Rs 6.699 billion.

The Sensitive Index decreased by 0.72 percent, while the Float Index declined  by 0.91 percent, and the Sensitive Float Index by 0.75 percent.

One company, Salapa Bikas Bank Limited, defied the broader market trend as its share price hit the upper circuit, surging by the maximum daily limit of 10 percent. Likewise, the share price of Reliance Spinning Mills Limited (RSML) jumped by 9.26 percent.

In contrast, Buddha Bhumi Nepal Hydropower Company Limited emerged as the top loser, with its share price declining by 8.92 percent.

In terms of transaction value, Ankhu Khola Jalvidhyut Company Ltd recorded the highest turnover, with shares worth Rs 634.240 million traded.

Out of the 13 sub-indices, all sectors ended in negative territory.

Investors have long awaited the market to cross the all-time high of 3199.03 points recorded on Bhadra 2, 2078. The market reached 3000.81 points on Saun 31 last year and touched 3002.08 points on Shrawan 13 this year.

Analysts predict the market will gain momentum as the upcoming election approaches. The government has introduced private sector-friendly policies and focused on the capital market, but investors remain cautious.