NEPSE Gained 1.13% This Week (Weekly Summary Of NEPSE With Technical Analysis, Sector Comparison And Major Highlights)

Fri, Sep 22, 2023 11:41 AM on Stock Market, Weekly Analysis, SS Pro, Latest,

-ShareSansar

Part 1: Rundown and Technical Analysis

This week, NEPSE traded for 4 days only as Wednesday was a holiday. The NEPSE index closed at 2,029.78 after gaining 22.72 points (1.13%). The index closed at 2,007.06 last week with a gain of 3.86% from the previous week.

This week, the index went as high as 2,040.03 and as low as 1,953.15 hence witnessing volatility of 86.88 points. The index had seen volatility of 73.94 points in the previous week.

The highest intraday loss was 44.35 points on Thursday with a turnover of Rs 3.29 Arba, however, the total turnover stood at Rs 7.37 Arba this week.

Momentum Indicators

The RSI reading on the daily timeframe is 54.56. Meanwhile, the RSI reading on the weekly chart is 51.19.

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 -15.21.

Nepse Index is above its 5-day Moving Average and 20-day Moving Average. This is earlier signal of the possibility of a bullish signal but requires further confirmation

1,950– 1,985 zone may act as the nearest support whereas, the 2,085 zone will act as resistance.

Part 2: Insight into Important Data

The highest intraday gain was 44.34 points on Thursday with a turnover of Rs 3.29 Arba, whereas the total turnover of the week stood at Rs. 7.36 Arba. More than 2.41 crore unit shares have been traded through 284,156 transactions this week. The current market capitalization of NEPSE stands at Rs. 3,059.095.91 million i.e. Rs 3.05 Kharba.

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

The NEPSE index inclined by 1.13% this week. Only four sector indices are closed in red.

Stocks with the highest Monthly Beta:

The top three companies with the highest beta are Menchhiyam Hydropower Limited (MCHL), Liberty Energy Company Limited (LEC), and Peoples Hydropower Company Limited (PHCL) with 3.482, 3.299, and 3.164 respectively.

Top Ten Gainers of the Week:

Three Star Hydropower Limited (TSHL) is the top gainer. TSHL closed at Rs. 449.30 with an Rs. 136.30 (43.55%) increment.

Top Ten Losers of the Week:

Everest Bank Limited's (EBL) price has decreased by 6.02% and its LTP stands at Rs. 589.

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:

Reliable Nepal Life Insurance Limited (RNLI) is the top-traded company of the week. A total of Rs. 58.52 Crores worth of RNLI shares were traded this week.