KATHMANDU: The Nepal Stock Exchange (Nepse) index snapped its five-day winning run on Sunday, the first trading day of the week, closing 26.51 points lower at 2,649.52 points.

Although the benchmark index opened on a positive note and posted early gains, it soon lost momentum and slipped into negative territory. The index eventually ended the session 0.99% lower.

Stock market analysts have attributed the downturn to profit-booking by investors following the extended rally seen in previous sessions.

Unit prices of 211 scrips declined during the session, while only 45 advanced and one remained unchanged. Similarly, overall market activity strengthened as total turnover improved to Rs 7.08 billion compared to the previous session. A total of 15.73 million units changed hands through 84,156 transactions on Sunday.

Himalayan Reinsurance Ltd recorded the highest turnover of the day with Rs 230.55 million worth of shares traded. Joshi Hydropower Development Ltd and Green Ventures Ltd followed with turnovers of Rs 218.16 million and Rs 213.57 million, respectively.

Sector-wise, all trading groups closed in the red except Manufacturing (0.73%) and Mutual Fund (0.04%). The steepest decline came from the Investment sub-index, which fell 1.48%. The Hydropower and Microfinance sub-indices also posted losses of 1.31% and 1.3%, respectively.