Nepal Stock Exchange (Nepse) suffered a steep decline losing 30 points to 1,655 points in less than an hour on Tuesday, amid CPN (Maoist Centre) decision to withdraw its support to the KP Sharma Oli-led ruling coalition.

However, the market corrected by the end of the day, to close at 1693.07, a drop of 9.20 points.

The insurance sector which led the loser’s side has seen its index slump over the past week saw a fall of 97.21 points on Tuesday. The sub-indices of major sectors except manufacturing and others observed a loss in share prices.

In the meantime, experienced investors have secured profits by purchasing stocks of good companies as the panic selling prompted by the political development brought down prices.

Meanwhile, the total turnover has also declined substantially to Rs1.1 billion. The investor confidence has dropped down during last two trading days amid political uncertainty.