The Sushil Koirala-led Nepali Congress (NC) was leading in 74 constituencies while its rival CPN-UML was ahead in 54 seats. The Unified CPN-Maoist was third, leading in 20 seats.
Official results for the polls to elect an assembly that will draft Nepal's new constitution were also announced for 27 seats with NC winning 14 seats and CPN-UML bagging 13.
The counting will lead to the formation of a 601-member Constituent Assembly, including 240 elected under a direct voting system. Proportionate voting will elect members to 335 seats and the remaining 26 members will be nominated by the government.
In what came as a setback to Prachanda, he and his daughter were handed down humiliating defeats in the polls.
Nepali Congress candidate Rajan K C beat the first post-war Prime Minister, securing 20,392 votes and restricting Prachanda to 12,859 in the Kathmandu Constituency 10. Third candidate in contention CPN-UML's Surendra Manandhar also secured more votes than Prachanda (13,619 votes).
Prachanda, 58, is also contesting from Siraha Constituency 5, where he was leading the vote count.
In Kathmandu constituency No 1, Nepali Congress general secretary Prakash Man Singh won the election by defeating his nearest rival Renu Dahal, daughter of Prachanda, by a huge margin.
Meanwhile, Unified CPN-Maoist today demanded a suspension of the vote count, alleging conspiracy after trends showed the party was trailing at the third position.
"We urge the election commission to stop the counting," Prachanda told reporters. "We accept (the) people's verdict but cannot accept conspiracy and poll-rigging."
"Be a responsibly political party and honour the verdict of the Nepali people," Nepali Congress vice president Ramchandra Poudyal told reporters here.
