NEPSE Lost 1.59% This Week (Weekly Summary Of NEPSE With Technical Analysis, Sector Comparison And Major Highlights)
Fri, Aug 18, 2023 12:42 PM on Stock Market, Weekly Analysis, Latest,
Part 1: Rundown and Technical Analysis
This week, the NEPSE index closed at 2033.13 after losing 32.92 points (1.59%). The index closed at 2,066.05 last week with a loss of 1.72% from the week before that.
This week, the index went as high as 2,093.81 and as low as 2,014.34 hence witnessing volatility of 79.47 points. The index had seen volatility of 76.61 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 and mid-term trends both as bearish.
The highest intraday loss was 31.80 points on Tuesday with a turnover of Rs 2.15 Arba, however, the total turnover stood at Rs 10.48 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 41.66. Meanwhile, the RSI reading on the weekly chart is 50.72.
On the other side, the MACD line and Signal line both are in the negative zone, i.e. below 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 -14.27.
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.
2,000 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 31.80 points on Tuesday with a turnover of Rs 2.15 Arba, whereas the total turnover of the week stood at Rs. 10.48 Arba. More than 2.95 crore unit shares have been traded through 314,906 transactions this week. The current market capitalization of NEPSE stands at Rs. 3,043,009.17 million i.e. Rs 3.04 Kharba.
NEPSE index and Sub-indices performance: (Decline is based on the previous week's close)
The NEPSE index declined by 1.59% 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:
Swet-Ganga Hydropower & Construction Limited's (SGHC) price has decreased by 14.66% and its LTP stands at Rs. 223.60.
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:
Soaltee Hotel Limited (SHL) is the top-traded company of the week. A total of Rs. 52.67 Crores worth of SHL shares were traded this week.
Top Buyers Brokers of the Week:
Dynamic Money Managers Securities Pvt. Ltd (Broker No- 44) was the top buyer broker this week and it bought stocks worth Rs. 91.84 Crores.
Top 10 Bought Companies:
Top Seller Brokers of the Week:
Sani Securities Co. Ltd (Broker No- 42) was the top seller broker for this week. The brokerage firm has sold stocks worth Rs. 1.11 Arba.
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.
