NEPSE Concludes The Week With 2.91% Loss; Weekly Summary with Technical Analysis, Sector Comparison, Major Highlights, and More

Fri, May 31, 2024 10:56 AM on Stock Market, Weekly Analysis, SS Pro, Latest,

-ShareSansar

Part 1: Rundown and Technical Analysis

The market traded for four days this week as Tuesday was a public holiday. The NEPSE Index closed at 2,069.53 after losing 61.96 points (2.91%). The index closed at 2,131.49 last week gaining 5.58% from the previous week.

This week, the index went as high as 2,152.85 and as low as 2,065.68 hence witnessing volatility of 87.2 points. The index had seen volatility of 111.87 points in the previous week.

The highest intraday loss was 23.85 points on Wednesday with a turnover of Rs 4.57 Arba, however, the total turnover stood at Rs 17.12 Arba this week.

Momentum Indicators

The RSI reading on the daily timeframe is 56.77. Meanwhile, the RSI reading on the weekly chart is 53.92.

Conversely, the MACD and Signal lines are in the positive zone i.e., above zero with the MACD reading at 18.49.

Nepse Index is above the 20-day Exponential Moving Average and the 5-day Exponential Moving Average. The Index above the moving average indicates earlier bullish sentiment.

2,020 -2,050 zone may act as the nearest support whereas, the 2,200 zone will act as resistance.

Part 2: Insight into Important Data

The highest intraday loss was 23.81 points on Wednesday with a turnover of Rs 4.57 Arba, however, the total turnover stood at Rs 17.12 Arba this week. Over 4.09 crore unit shares have been traded through 253,221 transactions this week. The current market capitalization of NEPSE is Rs. 3,281.668 million i.e. Rs 32.81 Kharba.

NEPSE index and Sub-indices performance: (Gain/ loss is based on the previous week's close)

The NEPSE index declined by 2.91% this week. Only three sector indices are closed in green.

Stocks with the highest Monthly Beta:

The top three companies with the highest beta are Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL), Nerude Mirmire Laghubitta Bittiya Sanstha Limited (NMLBBL), and NIC Asia Bank Limited (NICA) with 3.467, 3.012, and 2.827 respectively.

Top Ten Gainers of the Week:

Kalinchowk Darshan Limited (KDL) is the top gainer. KDL closed at Rs. 1,153.00 with an increment of Rs. 219.00 (23.45%).

Top Ten Losers of the Week:

IME Life Insurance Company Limited's (ILI) price has decreased by 23.13% and its LTP stands at Rs. 436.60.

All the analysis is done with the SS Pro Software. To learn more about the software, click on the link below.

SSpro

Top Stocks by Turnover, Volume, and Number of Transactions:

CEDB Hydropower Development Company Limited (CHDC) is the top-traded company of the week. Rs. 65.13 Crores worth of CHDC shares were traded this week.