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NEPSE Holds Strong Support at 2,660—What’s Next?

Author

Dipesh Ghimire

NEPSE Holds Strong Support at 2,660—What’s Next?

On Tuesday, the third trading day of the week, the Nepal Stock Exchange (NEPSE) dropped by 6.32 points, closing at 2,669.82. Despite the decline, 85 companies’ share prices increased, 148 companies saw a drop, and 10 companies remained unchanged.

In total, 87.68 lakh shares of 303 companies were traded, with a turnover exceeding NPR 4.41 billion. Among the top traded companies:

  • NRN Infrastructure & Development Bank led with NPR 189.6 million in transactions.

  • Sanima Mai Hydropower followed with NPR 187.6 million, and

  • Janaki Finance recorded NPR 171.7 million.

Most sub-indices were in the red, except for:

  • Hotels & Tourism (+0.28%),

  • Manufacturing & Processing (+0.33%),

  • Microfinance (+0.33%), and

  • Trading (+0.33%).

Technical Analysis

The market is at a decisive stage. Analysts observed that although the market declined today, a positive chart pattern has emerged. The index has consistently held the 2,660 support level, indicating resilience.

The higher low pattern continues to provide significant support at 2,660, with analysts forecasting a potential recovery in the coming sessions.

Broker Analysis

A review of 10 major brokers revealed mixed activity:

  • Top buyers: Brokers 45, 42, 62, 44, and 48 purchased more shares.

  • Top sellers: Brokers 58, 57, 34, 49, and 38 sold more shares.

For instance:

  • Broker 58 bought shares worth NPR 350 million but sold NPR 470 million.

  • Broker 45 purchased shares worth NPR 257.1 million and sold NPR 160 million.

Specific stock movements:

  • Nepal SBI Bank saw significant matching trades by Broker 58, who recorded 94% sales and 93% purchases.

  • Sanima Mai Hydropower was largely acquired by Broker 45 (58% of trades).

  • Khani Khola Hydropower and Ridi Hydropower witnessed significant trades by Brokers 39 and 62, respectively.

AI Insight

Our NEPSE Trading AI Traffic Light continues to show a yellow signal, indicating caution. This suggests the market is currently indecisive, urging traders to adopt a wait-and-watch approach before making significant moves.

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