Weekly Financial Market update
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- Ginger Parks
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1 Weekly Financial Market update Volatile week but ends in green NASDOTC ends green w/w at 0.4% January 11, 2018
2 Weekly financial Market Update Weekly Market Summary: The Market breadth closed positive at 6.0x Were you nervous about the bullish rally in the last two trading days of this week? You probably might not, but would want to know if a sustained reversal is close or more bull runs are still lurking. Even though we were not expecting a surge as high as what was printed today, we however, have highlighted in our previous reports that at some points on the bearish trend the bulls will surface as investors take position on fundamentally strong stocks whose prices are largely browbeaten. Therefore, you are strongly advised to trade with caution, don t join the bandwagon and expect stock prices to continue to take three steps backward and one step forward before the long-awaited respite in February-end. All that said, the equities market began the week on a negative note at -0.78%, thereafter dip significantly further to -2.33% on Wednesday as the NSEASI pared the 30-thousand psychological. The local bourse recovered in the last two trading days, uptick was quite substantial, however not enough to return the benchmark index in the threshold. Sectors mostly closed in the negative territory week on week basis save for industrial goods sector which advanced by 1.0% upon positive sentiments around WAPCO and CCNN. Oil/gas and insurance indexes shed over 600 basis points w/w due to selloff in NEM, LINKASSURE and SEPLAT. Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) Gold Silver Platinum Copper Money Market Rates Rate(%) %Δ Overnight rate Open Buy w-o-w returns chart Gainers %Δ JBERGER DIAMONDBNK TRANSCORP CORNERST WAPIC JOHNHOLT 9.09 WAPCO 8.41 CCNN 8.40 FCMB 4.94 REDSTAREX 4.76 losers %Δ NEM RESORTSAL UNITYBNK CUSTODIAN FLOURMILL NEIMETH SEPLAT CHAMPION LINKASSURE UACN -9.38
3 Consumer goods also declined by -3.56% as CHAMPION and FLOURMILL topped the weekly losers chart while banking sector slipped slightly at %. This week, a total volume of 1.265billion shares worth N14.072billion were traded in 19,275 deals compared to million units of shares valued N4.461billion exchanged in 10,621 deals last week. Away from that, the index surged by 1.06% as investors continued to buy the dip in the bellwether stocks, topped by DANGCEM, FBNH and ZENITHBANK while sell pressure was maintained in UNITYBNK. On the other hand, strong buying interest remained in favour of FO, AIICO, TRANSCORP, FIDELITYBK, CCNN and WAPCO. The bullish rally however support the Relative Strength Index to close uptrend at from while the Year-to-Date(YtD) performance turned northward by 100 basis points to -5.09%. Today, less volume and value of stocks were traded as the two indicators contracted by % and % to close at million and N2.75billion respectively in 3,538 deals Review of Sectoral Performance Most sectors have its stake of the positive return today as against -4.47% dip in oil and gas sector on the back of sell-offs in SPELAT -10.0% which outweighed the upticks in OANDO 3.61% and FO 3.57%. Industrial goods category topped the performance sector as its advanced by 2.69% to 1, due to buying interest in DANGCEM 3.21%, CCNN 2.83% and WAPCO 2.08%. Banking sector and insurance indexes trailed close, up by 1.25% and 1.58% as a result of gains in WAPIC 10.0%, CORNERST 10.0%, VERITASKAP 10.0%, ACCESS 6.6%, FBNH 4.23%, ZENITHBANK 1.16% and WEMABANK 3.45%. On a lighter note, consumer goods sector rose slightly by 0.16% as positive sentiments helped the counters of DANGFLOUR 9.65%, GUINNESS 4.76% and HONYFLOUR 3.6% against loss in NB -1.27% Movement of NSEASI(Year-to-Date) Relative Strength Index (RSI) Source: MorganCapital Research
4 NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) NSE All Share Index NSE Banking Sector Index NSE Industrial Goods Index NSE Consumer Goods Index NSE Oil & Gas Index NSE Insurance Index Source: NSE, MorganCapital Research Market sentiment The bulls saw 30 counters ending in the green territory as against 5 losers. We expected jittery trading to take the center stage next week while investors continue to hunt for bargains in defensive stocks Best Performed stocks Least Performed stocks Ticker Close Change %Δ Ticker Price Change %Δ CORNERST SEPLAT VERITASKAP CUSTODIAN WAPIC UNITYBNK NPFMCRFBK UACN DANGFLOUR NB UAC-PROP AFRIPRUD UNIONDAC FLOURMILL ACCESS NEM GUINNESS GUARANTY REDSTAREX ZENITHBANK Ticker Top Traded Stocks by Volume Top Traded Stocks by Value Deal Volume %Δ Ticker Deal Value %Δ DIAMONDBNK ,407, DANGCEM ,184, UBA ,472, GUARANTY ,235, ZENITHBANK ,978, ZENITHBANK ,922, FBNH ,895, UBA ,834, TRANSCORP 92 17,164, GUINNESS ,480, GUARANTY ,808, FBNH ,667, ACCESS ,984, NESTLE ,173, FIDELITYBK 89 8,165, NB 63 73,532, NEM 46 7,874, ACCESS ,440, UCAP 66 4,752, DIAMONDBNK ,029, Source: NSE, MorganCapital Research
5 NASD OTC Performance PARAMETER Previous Current Weekly(%) Daily (%) USI Capitalization ( 'Bn) Volume Traded Value Traded ( '000) Deals Executed NSEASI & Moving Averages (100 and 200-day) Source: NSE, MorganCapital Research Top Performers Global Market Performance in One week Top Decliners Index Δ Index Δ Argentina 9.99% Jordan -0.22% Rus % Greece 0.00% NASDAQ 8.08% Luxembourg 0.00% Rus 3000 growth 7.68% Nigeria 0.00% `Rus % Malaysia 0.18% Rus % Mongolia 0.46% S&P % Nikkei % Hong Kong 5.81% UAE Dubai 0.78% United States 5.80% Egypt 1.29% Singapore 5.66% India 1.67%
6 MorganCapital Securities Limited ("MorganCapital"), formerly known as International Capital Securities Limited, was incorporated on 28th January, 1997; and was issued a license as a Dealing Member of the NSE on 3rd October, 1997, after obtaining license of the Securities & Exchange Commission (SEC) as a Broker/Dealer. The Company has remained a dealing member firm of the NSE since then (over 17years ago). In 2009, MorganCapital got licensed by the SEC to perform an additional role as an Issuing House/Financial Adviser. MorganCapital was recently accredited by the Nigerian Stock Exchange as a Designated Adviser to the Alternative Securities Market (ASeM) Board, after a very rigorous and competitive process. MorganCapital is a full fledge Investment Banking, Securities Trading and Principal Investments Firm, with licenses from the Nigerian Securities & Exchange Commission and the Nigerian Stock Exchange. MorganCapital provides a comprehensive range of investment banking and financial advisory services to private, public sector, corporate, and institutional clients. Our firm has very strong contacts with many African-focused & emerging markets investors/fund managers. MorganCapital has advised on a number of transactions in the Nigerian Capital Markets, including provision of Financial Advisory Service to the Federal Government of Nigeria, through the Bureau of Public Enterprises ("BPE") for the concessioning of the National Arts Theater, the Tafawa Balewa Square, the Lagos Trade fair complex and the 6 National Stadia. MorganCapital also advised the BPE on the proposed sale of the Ijora Power Plant, the Calabar Power Plant and the Oji River coal-fired power plant. Our group is focused on providing unbiased financial advisory and investment banking services to individuals and institutions that are seeking to invest in Africa or already involved in investing in Africa. One of our goals is to be the BEST link to the Nigerian Capital Market. CONTACT US Research Omosuyi Temitope temitopeo@morgancapitalgroup.com Investment Banking Adewale Adetiba adewalea@morgancapitalgroup.com Securities Dealing Ogochukwu Njoku ogochukwun@morgancapitalgroup.com Michael Joel michaelj@morgancapitalgroup.com For further information, please contact: MorganCapital Securities Limited The Pent House 3 Biaduo Street, Off Keffi Street S/West Ikoyi Lagos, Nigeria Tel: 234-(1) , 234-(1) info@morgancapitalgroup.com This report by MorganCapital Securities Ltd is for information purposes only. The company and its employees do not warrant the accuracy or completeness of the information provided as such information was gathered from primary and secondary reliable sources. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of market trends, which are based on current market sentiment. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for a ll investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of equity securities may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. We, therefore, do not take responsibility for any loss arising from the use of the information.
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