NEPSE Increased By Phenomenal 88.09 Points With Turnover of Rs 12.52 Arba This Week; Weekly Summary with Technical Analysis, Sector Comparison, Major Highlights, and More

Fri, Feb 10, 2023 10:53 AM on Stock Market, Weekly Analysis,

Part 1: Rundown and Technical Analysis

The NEPSE index closed at 2,182.63 this week after a gain of 88.09 points (4.21%). The index closed at 2,094.54 last week with a loss of 4.06% from the week before that.

This week, the index went as high as 2,213.78 and as low as 2,087.48 hence witnessing volatility of 126.3 points. The index had seen volatility of 101.74 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 highest intraday gain was 76.74 points on Tuesday with a turnover of Rs 3.36 Arba, however, the total turnover stood at Rs 12.52 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 63.43. Meanwhile, the RSI reading on the weekly chart is 59.22.

On the other side, the MACD line and Signal line are both in the Positive zone, i.e. above zero in the daily timeframe, but the MACD line and Signal line have made a crossover pattern with the MACD reading at 28.53. This indicates an early start of bearish sentiment.

Moving Averages

NEPSE index is above both 5 days Exponential Moving Average (EMA) and 20 days EMA. The index above these moving averages signals bullishness. The 5 days EMA is above the 20 Days EMA with a probability of crossover pattern.

2,080 to 2,000 zone may act as the nearest support whereas, the 2280 zone will act as resistance.

Part 2: Insight into Important Data

The highest intraday gain was 76.64 points on Tuesday with a turnover of Rs 3.362 Arba, whereas the total turnover of the week stood at Rs. 12.52 Arba. More than 3.46 crore unit shares have been traded through 220,012 transactions this week. The current market capitalization of NEPSE stands at Rs. 3,149,654.74 million i.e. Rs 31.49 Kharba.

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

The NEPSE index inclined by 4.21% this week. All sector indices are closed in green.

Stocks with the highest Monthly Beta

The top three companies with the highest beta are Himalayan Hydropower Limited (HHL), Green Ventures Limited (GVL), and Radhi Bidyut Company Limited (RADHI) with 2.955, 2.897, and 2.857 respectively.

Top Ten Gainers of the week:

Joshi Hydropower Development Company Limited (JOSHI) is the top gainer. JOSHI closed at Rs. 316.90 with Rs. 56.9 (21.88%) increment.

Top Ten Losers of the week:

8.5% Laxmi Bank Debenture (LBLD88) price has decreased by 13.99% and its LTP stands at Rs. 809.50.

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:

NIC Asia Bank Limited (NICA) is the top-traded company of the week. A total of Rs. 37.59 Crores worth of NICA 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. 89.63 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. 1.122 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.