Weekly Financial Market update Most counters rallied as market dip slightly -0.09% NASDOTC closes 0.44% w/w December 21, 2018
Weekly financial Market Update Weekly Market Summary: The Market breadth closed positive at 2.07x This week was greatly influenced by the budget of 2019 presentation with most premises already invalidated as reflected by all prevailing cues from continuous nosedive in oil prices, OPEC directive on Nigeria oil production cap at 1.68mpd, threats to foreign reserves accretion as well as outlook on inflation trending northward. Evidence from the latest unemployment rate also shows how A.W.H Phillips (Phillip curve) punished the monetary authority for being dogmatic on its quest to taming inflation rather than giving economic growth a chance by adjusting its policy levers at least marginal ly downward. Hence, if the status quo on policies and programme to chat economic course in 2019 would be maintained, obviously, we are in for a rocky ride irrespective of the voyage we choose to place our bets among real sector, financial market(money and capital market) and physical assets. Away from that, the Nigerian capital market recorded a number of outliers in terms of volume and value traded this week owing to various updates and media opinion explaining the next stage of the ACCESS-DAIMONDBNK M&A process. However, ACCESS selloff chiseled its value by -5.37% w/w as against lingered over bid for DIAMONDBNK (between 900 and 400 million bid per day) which placed it on top of advanced counters in the week; 57.89%. Consequent upon this, NSEASI printed two green and three red closes in the week thereby seeing total volume and value up significantly by 25.95% and 26.52% to finish at 1.472bn and N18.678bn respectively exchanged in 15,610 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 55.66 54.1-2.80 Gold 1256.83 1256.93 0.01 Silver 14.79 14.7-0.61 Platinum 792.02 787.16-0.61 Copper 268.45 267.4-0.39 Money Market Rates Rate(%) %Δ Overnight rate 25.08 10.25 Open Buy 21.67 8.08 w-o-w returns chart Gainers %Δ DIAMONDBNK 57.89 UNITYBNK 39.13 NEIMETH 31.67 NEM 20.87 FO 18.05 MOBIL 18.01 UAC-PROP 17.57 CCNN 13.38 HONYFLOUR 12.61 VITAFOAM 10.47 losers %Δ IKEJAHOTEL -9.63 JAPAULOIL -9.09 UBN -8.20 VERITASKAP -8.00 CAP -6.44 AIICO -5.80 ACCESS -5.37 ETI -5.00 UNILEVER -4.88 MBENEFIT -4.76
deals (7.26%) against 1.169bn and N14.762bn. Elsewhere, sectors mostly closed in green week on week basis save banking sector which dipped -2.16% due to selloffs in UBN, ACCESS and ETI which netted the gains in DIAMONDBNK and UNITYBNK. In contrast, insurance and oil and gas sector surged significantly in the week on the account of buying interest in NEM, FO and MOBIL while marginal upticks industrial and consumer goods sectors were not devoid of gains recorded in NEIMETH, CCNN, HONYFLOUR among others. All that being said, the equities market closed slightly down today upon profit taking in most bellwether counters; GUARANTY, DANGCEM and SEPLAT which negated the gains in most counters. Similarly, selloff pressure was sustained in ACCESS, FCMB and FLOURMILL in contrast to maintained positive sentiments in NEM, UNITYBNK, DIAMONDBNK and LINKASSURE. As a result, total volume and value traded today slide significantly -64.55% and -10.36% to close at 193.561million and N3.666billion just as the deals declined -9.24% to 2,927. In the same manner, RSI and YtD headed southward marginally 40.67 and -19.53% apiece. Review of Sectoral Performance In similar vein to weekly sector performance, today, 4 of 5 ended in the green territory topped by insurance index which advanced by 1.86 % to 127.01 on the back of gains in NEM 9.88%, LINKASSURE 8.93% and WAPIC 5.0%, closely followed by oil and gas sector to end at 285.42 by 1.82% as a result of positive sentiment in MOBIL 10.0%, FO 9.63% and TOTAL 4.17%. On a lighter note, industrial and consumer goods indexes inched up marginally 0.30% and 0.90% due to investors interest in WAPCO 7.23%, HONYFLOUR 6.84%, CHAMPION 3.77%, NB 2.56% and PZ 1.9%. Banking sector as the lone decliner dipped -0.54% to close at 393.91 upon losses in ACCESS -4.73%, FCMB -4.62%, JAIZBANK -4.0% and GUARANTY - 2.59%. Movement of NSEASI(Year-to-Date) Relative Strength Index (RSI)
NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) YTD(%) NSE All Share Index 30802.9 30773.64-0.09 0.31-0.33-19.53 NSE Banking Sector Index 396.06 393.91-0.54-2.16-1.14-17.15 NSE Industrial Goods Index 1238.91 1242.6 0.30 1.25-0.16-37.10 NSE Consumer Goods Index 719.17 725.65 0.90 0.76-1.27-25.66 NSE Oil & Gas Index 280.33 285.42 1.82 2.26 3.40-13.69 NSE Insurance Index 124.69 127.01 1.86 3.51 0.51-8.87 Source: NSE, MorganCapital Research Market sentiment The equities market ended with 29 gainers to 14 losers. We however, expect mixed trading activities next week largely skewed to the bearish market. Top Gainers Top Losers Ticker Close Change %Δ Ticker Price Change %Δ MOBIL 184.8 16.8 10 VERITASKAP 0.23-0.02-8 UACN 11 1 10 LASACO 0.3-0.02-6.25 NEM 2.78 0.25 9.88 REGALINS 0.2-0.01-4.76 NEIMETH 0.79 0.07 9.72 ROYALEX 0.2-0.01-4.76 FO 28.45 2.5 9.63 TRANSCORP 1.2-0.06-4.76 DIAMONDBNK 1.5 0.13 9.49 ACCESS 7.05-0.35-4.73 UNITYBNK 0.96 0.08 9.09 FCMB 1.65-0.08-4.62 LINKASSURE 0.61 0.05 8.93 JAIZBANK 0.48-0.02-4 UNIONDAC 0.26 0.02 8.33 AIICO 0.65-0.02-2.99 AGLEVENT 0.27 0.02 8 GUARANTY 33.8-0.9-2.59 Top Traded Stocks by Volume Top Traded Stocks by Value Ticker Deal Volume %Δ Ticker Deal Value %Δ GUARANTY 303 29,759,153.00 43.01 GUARANTY 303 1,013,715,223.20 42.41 ZENITHBANK 284 24,936,630.00-33.13 DANGCEM 148 585,175,247.00 53.84 FBNH 213 17,337,116.00 5.16 ZENITHBANK 284 570,228,845.75-31.99 TRANSCORP 83 16,698,794.00 387.67 NESTLE 25 558,376,124.00 236.72 ACCESS 301 15,351,317.00-75.19 NB 60 244,454,434.20 704.1 UBA 117 13,131,062.00-23.97 FBNH 213 134,551,668.10 8.19 FCMB 83 11,706,123.00 45.64 ACCESS 301 107,818,387.80-77.22 CHAMPION 11 10,648,888.00 9939.5 UBA 117 101,253,928.50-22.89 WAPIC 14 5,017,818.00 1459.4 MOBIL 32 56,577,702.70 223.14 UNITYBNK 28 4,233,263.00 1740.9 FLOURMILL 38 46,231,002.70-67.15 Source: NSE, MorganCapital Research
NASD OTC Performance PARAMETER Previous Current Weekly(%) Daily (%) USI 711.02 712.39 0.44 0.19 Capitalization ( 'Bn) 494.18 495.12 0.44 0.19 Volume Traded 237550 26050-97.71-89.03 Value Traded ( '000) 17813.19 3393.45-90.05-80.95 Deals Executed 7 7-50.00 0.00 NSEASI & Moving Averages (100 and 200-day) Source: NSE, MorganCapital Research Global Market Performance Top Performers 1 day 12/21 1 week 1 month 3 months Index Change Index Change Index Change Index Change Malaysia 1.19% Jordan 6.22% Indonesia 3.62% Hungary 10.65% S. Africa 0.67% Mongolia 3.43% Philippines 2.95% Brazil 7.87% Hong Kong 0.51% Turkey 1.47% Mongolia 2.53% Indonesia 3.46% Brazil 0.50% Egypt 0.61% Poland 1.56% Mongolia 2.02% Ireland 0.28% Malaysia 0.50% India 1.54% Philippines 1.31% Indonesia 0.26% S. Africa 0.45% Greece 1.44% Abu Dhabi -0.56% Frankfurt 0.21% Mexico 0.38% S. Africa 1.33% Poland -1.56% London 0.14% Nigeria 0.00% Hungary 0.41% Jordan -2.62% Switzerland 0.10% Luxembourg 0.00% Singapore 0.24% India -2.98% Korea 0.07% Indonesia -0.10% New Zealand 0.16% Egypt -4.09% Top Decliners 1 day 12/21 1 week 1 month 3 months Index Change Index Change Index Change Index Change NASDAQ -2.99% Argentina -8.53% Rus 2000-13.11% Rus 2000-24.47% Argentina -2.69% Rus 2000-8.44% Austria -11.76% NASDAQ -20.71% Rus 3000 growth -2.67% NASDAQ -8.36% Rus 3000 value -9.86% Rus 3000 growth -20.07% Rus 2000-2.57% Rus 3000 growth -7.94% Rus 3000-9.25% Austria -19.44% Rus 3000-2.11% Rus 3000-7.22% NASDAQ -9.17% Ireland -19.21% Rus 1000-2.07% Rus 1000-7.13% UAE Dubai -8.96% Rus 3000-18.33% S&P 500-2.06% S&P 500-7.05% Rus 1000-8.95% Rus 1000-17.83% India -1.89% United States -6.87% S&P 500-8.80% S&P 500-17.51% United States -1.81% Austria -6.79% SZ SME -8.70% Argentina -17.10% Poland -1.74% Rus 3000 value -6.51% Rus 3000 growth -8.61% SZ SME -17.04%
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