Daily Equities Market update What goes up! NASDUSI closes in the red -0.54% January 21, 2018
Headline ZENITHBANK notifies on its Board approval of FY 2018 results Guinness allays fear over the fire outbreak at its ABA logistics center, however, no major loss was recorded. Goldlink Insurance announces changes to its Board Market Summary Index back to its stationary path after last week bullish run The bears resumed session today after a 7-day of bullish trend thereby reaching its peak last week Friday at 1.38%. We understand that a consistent gains in the equities market especially when traceable to few bellwether counters rather than positive sentiment around most listed stocks on the exchange signals positive trend that is about to hit the snag after which oscillation trend takes its course. Apparently, the waned market breadth between last week Wednesday and Thursday, followed by a negative sentiments on Friday signaled the turn on the NSEASI curve recorded today. Money Market Rates Rate(%) %Δ Overnight rate 27.17 11.00 Open Buy 25.33 10.00 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 60.67 62.75 3.43 Gold 1290.13 1280.27-0.76 Silver 15.68 15.31-2.36 Platinum 814 796.86-2.11 Copper 264.85 268.95 1.55 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 754.4 750.3-0.54 Capitalization ( 'Bn) Volume Traded Value Traded ( '000) Deals Executed 541.99 539.04-0.54 12155600 7077512-41.78 26892.6 103679.8 285.53 5 15 200.00 That said, investors took profits in a number of last week top performing stocks; UNITYBNK, CUSTODIAN, SOVRENINS, DANGCEM, WAPCO, WEMABANK and ETERNA thereby pushing their prices significantly in the dip in contrast to sustained sell-offs in RESORTAL, UCAP, TRANSCORP and ZENITHBANK. Leading the Global Investment Path to Africa
On the flip side, LIVESTOCK, JAIZBANK, LINKASSURE, WAPIC and UBA enjoyed positive sentiments from the previous negative returns as investors hunted for bargains in these stocks. Meanwhile, positive headline factors have remained the major driver of NEM and CCNN as its continued in positive territory in similar vein to the continuous buying interest FIDELITYBNK and STERLNBANK. Also, the benchmark index shed 88 basis points to close today session at 30,732.72 just as the equities market cap. lost N101.599billion to end at N11.46trilliion. Furthermore, the total volume and value of stocks traded advanced significantly by 65.96% and 46.92% to 499.21million and N5.531billion respectively while the deals executed added 557 to 3,874. Upon the negative turn, RSI tracked the trend to finish at 51.09 from 54.94 while the YtD return which would have crossed the redline uptrend had the market ended northward dipped in the red by 87 basis points to -2.22%. Review of Sectoral Performance Banking sector, consumer goods and oil and gas sector closely tracked the market downturn by -0.14%, -0.00% and -4.55% to 378.97, 723.85 and 269.82 apiece. Oil and gas sector, being the most volatile sector given the prevailing event in international oil market was the hardest hit by the sell pressures in SEPLAT -7.99%, MOBIL-4.62%, ETERNA -2.25% and OANDO -1.12%. Consumer goods and banking sector declined marginally upon losses recorded in the counters of UNITYBNK -4.4%, WEMABANK -1.61%, DIAMONDBNK -0.95% and VITAFAOM -2.22%. Away from that, Industrial goods and insurance indexes ended in the positive territory on the back of buying interest in CCNN 7.17%, LINKASSURE 8.93%, WAPIC 5.0% and NEM 4.84%. Movement of NSEASI(Year-to-Date) Source: MorganCapital Research Leading the Global Investment Path to Africa
NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) YTD(%) NSE All Share Index 31,005.17 30,732.72-0.88-0.88-2.22-2.22 NSE Banking Sector Index 379.51 378.97-0.14-0.14-4.88-4.88 NSE Industrial Goods Index 1,346.18 1,359.18 0.97 0.97 9.80 9.80 NSE Consumer Goods Index 723.87 723.85-0.00-0.00-3.34-3.34 NSE Oil & Gas Index 282.68 269.82-4.55-4.55-10.75-10.75 NSE Insurance Index 122.38 124.21 1.50 1.50-1.79-1.79 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed positive at 0.78x Investors sentiment waned further today as more counters were being browbeaten due to profit taking and stop loss position on some bellwether counters. However, fundamentally sound stocks will continue to weather the storm of market jittery and heightened speculative trading. Source: MorganCapital I trade the Global Investment Path to Africa
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