NEPSE Concludes The Week With 1.72% Loss and Turnover of Rs 9.87 Arba; Weekly Summary with Technical Analysis, Sector Comparison, Major Highlights, and More
Sat, Aug 5, 2023 4:39 PM on Stock Market, Weekly Analysis,
Part 1: Rundown and Technical Analysis
This week, the NEPSE index closed at 2089.84 after losing 36.64 points (1.72%). The index closed at 2,126.48 last week with a loss of 1.73% from the week before that.
This week, the index went as high as 2,138.63 and as low as 2,062.02 hence witnessing volatility of 76.61 points. The index had seen volatility of 119.08 points in the previous week.
Analysis of Trend and Volume
Trend analysis is a technical analysis method that helps to predict future movement based on the current ongoing trend data. The daily charts show the short-term trend as bearish and mid-term trends as bullish.
The highest intraday gain was 28.60 points on Tuesday with a turnover of Rs 1.92 Arba, however, the total turnover stood at Rs 9.88 Arba this week.
Momentum Indicators
The relative strength index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or index. Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition.
The RSI reading on the daily timeframe is 47.50. Meanwhile, the RSI reading on the weekly chart is 54.90.
On the other side, the MACD line and Signal line both are in the positive zone, i.e. above zero but signal line has crossed the MACD line and MACD line is below the signal line in the daily timeframe with the MACD reading at 10.28.
Moving Averages
Nepse Index is below its 5-day Moving Average and 20-day Moving Average. This is typically a bearish signal but requires further confirmation.
2,040 zone may act as the nearest support whereas, the 2200 zone will act as resistance.
Part 2: Insight into Important Data
The highest intraday loss was 28.90 points on Tuesday with a turnover of Rs 1.92 Arba, whereas the total turnover of the week stood at Rs. 9.87 Arba. More than 3.28 crore unit shares have been traded through 204,076 transactions this week. The current market capitalization of NEPSE stands at Rs. 3,071,642.86 million i.e. Rs 3.07 Kharba.
NEPSE index and Sub-indices performance: (Decline is based on the previous week's close)
The NEPSE index declined by 1.72% this week. Only three sector indices closed in green.
Stocks with the highest Monthly Beta
Top Ten Gainers of the Week:
Top Ten Losers of the Week:
Progressive Finance Limited Promoter Share (PROFLP) price has decreased by 18.50% and its LTP stands at Rs. 185.
All the analysis is done with the SS Pro Software. To know more about the software, click on the link below.
Top Stocks by Turnover, Volume, and Number of Transactions:
Shivam Cements Limited (SHIVM) is the top-traded company of the week. A total of Rs. 50.39 Crores worth of SHIVM shares were traded this week.
Top Buyers Brokers of the Week:
Naasa Securities Co. Ltd (Broker No- 58) was the top buyer broker this week and it bought stocks worth Rs. 69.52 Crores.
Top 10 Bought Companies:
Top Seller Brokers of the Week:
Naasa Securities Co. Ltd (Broker No- 58) was the top seller broker for this week. The brokerage firm has sold stocks worth Rs. 70.97 Crores.
Top 10 Sold Companies:
All the analysis is done with the SS Pro Software. To know more about the software, click on the link below.
