NEPSE Lost 6.59 Points (0.34%) With Turnover of Rs 5.83 Arba This Week; Weekly Summary with Technical Analysis, Sector Comparison, Major Highlights, and More
Fri, Mar 31, 2023 11:29 AM on Stock Market, Weekly Analysis,
Part 1: Rundown and Technical Analysis
NEPSE index closed at 1,908.55 this week after a loss of 6.59 points (0.34%). The index closed at 1,915.14 last week with a gain of 0.94% from the week before that.
This week, the index went as high as 1,936.43 and as low as 1,864.99 hence witnessing volatility of 71.44 points. The index had seen the volatility of 55.81 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. Looking at the daily charts, the short-term and mid-term trends are both down. The index is making lower lowers every day.
The highest intraday gain was 17.70 points on Monday with a turnover of Rs 1.38 Arba, however, the total turnover stood at Rs 5.83 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 36.81. Meanwhile, the RSI reading on the weekly chart is 41.38.
On the other side, the MACD line and Signal line both are in the negative zone, i.e. below zero in the daily timeframe, with the MACD reading at -37.31. This indicates a bearish sentiment.
Moving Averages
The 5-day Moving Average of the NEPSE Index has crossed below its 20-day Moving Average from above forming a Death crossover. This is typically a bearish signal but requires further confirmation. Death cross formation on 15th February is still valid.
1,855 zone may act as the nearest support whereas, the 2100 zone will act as resistance.
Part 2: Insight into Important Data
The highest intraday loss was 26.85 points on Sunday with a turnover of Rs 1.298 Arba, whereas the total turnover of the week stood at Rs. 5.831 Arba. More than 1.74 crore unit shares have been traded through 156,921 transactions this week. The current market capitalization of NEPSE stands at Rs. 2,764,663.07 million i.e. Rs 27.64 Kharba.
NEPSE index and Sub-indices performance: (Decline is based on the previous week's close)
The NEPSE index declined by 0.34% this week. Eight sector indices are closed in green.
Stocks with the highest Monthly Beta
The top three companies with the highest beta are Shiva Shree Hydropower Limited (SSHL), Nepal Insurance Company Limited (NICL), and Ajod Insurance Limited (AIL) with 2.633, 2.336, and 2.232 respectively.
Top Ten Gainers of the week:
Top Ten Losers of the week:
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited's (JALPA) price has decreased by 18.13% and its LTP stands at Rs. 1,870.
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:
Himalayan Distillery Limited (HDL) is the top-traded company of the week. A total of Rs. 26.15 Crores worth of HDL 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. 38.8 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. 44.99 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.
