Daily Equities Market update Has the party ended? NASDOTC resumes flat December 27, 2018
Headlines Continental Reinsurance announces the retirement of Mrs. Abimbola Falana as company s secretary while Ms. Patricia Ifewulu takes over the role of Ag. Company secretary Diamond bank appoints Mr. Dele Babade as acting Chairman of the board of directors NOTORE releases Q3 2018 results, revenue declined by -25.29% while loss dips further -5.56% to -N2.013billion Market Summary Equities market reversed trend slightly from the leap in performance recorded on Monday +3.88% to end the session in the red at -0.86%. The market slipped as investors took profit in a number of bellwether counters topped by DANGCEM, DANGSUGAR, UACN, FBHN, NEM and VERITASKAP while positive sentiment was sustained in 14 stock, on the spotlight were DIAMONDBNK, FO, UNITYBNK, HONYFLOUR and FCMB. On the contrary, buying interest was renewed in UCAP which saw its shares close uptrend from previous negative. Money Market Rates Rate(%) %Δ Overnight rate 13.75-11.33 Open Buy 12.67-9.00 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 53.11 53.72 1.15 Gold 1266.24 1273.26 0.55 Silver 14.81 15.25 2.97 Platinum 788.57 789.05 0.06 Copper 267.15 266.55-0.22 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 712.39 713.8 0.20 Capitalization ( 'Bn) 495.12 496.1 0.20 Volume Traded 45180904 1052595-97.67 Value Traded ( '000) 452553.3 10460.31-97.69 Deals Executed 3 8 166.67 As the all share index climbed 31 thousand psychological line on Monday after its pared on 28 th of November, 2018, its shed 274.38 points today to finish at 31,692.63. Similarly, market capitalization lost N100.22bn to close at N11.58trillion compared to the significant jump in the gains printed on Monday; N435.897billion. Of note was the decline in the total traded volume and value of stocks which declined -36.75% and -49.78% to 452.26million and N2.61billion while the total deals executed surged 26.21% to 3,520 from 2,789.
Although the Relative Strength Index(RSI) slide slightly by 5.52 points to 57.97 but still near March, 2018 highs while the Year to Date(YtD) return which turned northward on Monday, closed 72 basis points lower at -17.13%. Review of Sectoral Performance Two sectors; industrial goods and insurance indexes were deserted by investors due to profit taking position on its counters as its declined -2.11% and -0.69% to close at 1248.57 and 127.34 respectively. Consequently, DANGCEM -3.25%, NEM - 9.15%, NIGERINS -8.33%, VERITASKAP -4.17% and WAPIC -2.38%, ended in the negative territory. On the positive sectors, oil and gas sector climbed 1.27% to 305.5 upon gains in CONOIL 10.0%, FO 9.92%, ETERNA 8.7% and OANDO 3.12%. Banking and consumer goods sector followed at 0.23% and 0.04% as a result of appreciation in its counters topped by NPFMCRFBK 10%, DIAMONDBNK 9.7%, FCMB 8.62% and FIDELITYBK 4.62% in banking sector while consumer goods category was driven by NASCON 1.41%, HONYFLOUR 0.76% and NB 0.49%. Movement of NSEASI(Year-to-Date) Source: MorganCapital Research
NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) YTD(%) NSE All Share Index 31967.01 31692.63-0.86 2.99 2.65-17.13 NSE Banking Sector Index 399.33 400.24 0.23 1.61 0.44-15.82 NSE Industrial Goods Index 1275.46 1248.57-2.11 0.48 0.32-36.80 NSE Consumer Goods Index 765.49 765.81 0.04 5.53 4.19-21.54 NSE Oil & Gas Index 301.66 305.5 1.27 7.04 10.68-7.62 NSE Insurance Index 128.23 127.34-0.69 0.26 0.77-8.63 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed positive at 2.0x The Bear grasped 17 counters today compared to 7 which closed in the red on Monday while 34 counters ended uptrend from 37. This however signaled improved investors sentiment although less than the previous close. Source: MorganCapital I trade
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