NEPSE Gains 63.01 Points, Downtrend Trendline Broken With Further Credibility: Daily Market Summary

Tue, Jan 4, 2022 3:35 PM on Stock Market, Latest,

The NEPSE index closed at 2,679.95 today after gaining 63.01 points from yesterday's closing. This is a gain of 2.41% on the index. The index had gained 32.03 points yesterday.

234 scrips traded hands via 55,378 transactions. The Float index is at 184.74 after gaining 2.86% while the Sensitive index gained 3.25% and is now at 503.72.

Nepal Bangladesh Bank Limited (NBB) had the highest turnover of Rs. 14.77 crores closing at a market price of Rs. 405.40 per share. Its shares also traded the most.

Saptakoshi Development Bank Limited (SAPDBL), Shree Investment Finance Company Limited (SIFC), and Madhya Bhotekoshi Jalavidyut Company Limited (MBJC) technically gained 10%, hence hitting the positive circuit breaker. Meanwhile, Everest Insurance Company Limited Promoter Share (EICPO) lost the highest 7.5%, hence closing at Rs. 410.70.

"Manufacturing And Processing" and "Others" are the two sectors that lost today. The former lost the highest 0.59%. Among all other sectors that closed green, "Development Bank" has gained the highest 5.23%.

Technical Analysis Highlight

The index opened at 2,619.22 and created the intraday low at 2,594.22. It then closed at the intraday high of 2,679.95.

Furthermore, a total of 9,110,758 shares exchanged hands amounting to Rs. 4.320 Arba in the turnover amount. This is lower than yesterday's turnover of Rs. 4.533 Arba.

The Relative Strength Index (RSI) is at 61.26. The reading was at 56.79 yesterday. Meanwhile, both the MACD line and the signal line are still negative, i.e. below zero, with the MACD reading at -0.21. This reading was at -13.4 yesterday. The MACD line has already crossed over the signal line, indicating a mild bullish sentiment. However, the crossover would have been more significant if the MACD reading was positive. Nonetheless, the MACD line is approaching the "0" level with promising aggression.

Drawing a trend line joining the recent peaks, the index had crossed higher from the trend line yesterday. Today's market activity has further supported the breakout with a significant percentage gain.

Highlights of The Day:

1) Sarbottam Cement Calls AGM, What Happened to its IPO Via Book Building?

2) Last Day to Grab Dividend Proposed By JSLBB, KMCDB, PFL, and MPFL

3) Total Deposit Up Rs. 14B in Third Week of Poush, Lending Up Rs. 11B, CD Ratio at 91.02%

4) Gold Loses Rs. 900 Per Tola in Nepalese Market Today, Silver Loses Rs. 15

5) 10% Bonus Shares of Arun Valley Hydropower (AHPC) Listed in NEPSE

6) Last Day to Be Eligible to Apply for 10: 3 Rights Offering of Chhyangdi Hydropower (CHL)