Weekly Financial Market update The Bulls pop champagne to the Banking sector rally NASDOTC finishes in red w/w at -1.33% January 25, 2018
Weekly financial Market Update Weekly Market Summary: The Market breadth closed positive at 4.57x To many market watchers and participants, the best bullish run in the month was thought to have been staged last week when the market gained 5 days in a row. This week, the equities market however halted the downtrend recorded on Monday by a marginal gain of 0.01% on Tuesday. The positive sentiment was sustained further in the week thereby climbing highest daily close so far in the year as the benchmark index rose 1.41% to 31,426.63 today. Meanwhile, significant buying interest witnessed this week in benchmark index on year-to-date and week-to date basis improved to 1.36% and -0.01% just as the equities market cap gained N157.040billion this week compared to N437.97billion gains recorded last week, although, with an outlier today. That being said, on weekly basis, banking sector toppled the industrial sector to end significantly above others at 7.51% as a result of strong positive momentum in the sector driven by buying interest in FIDELITYBK, FCMB, ACCESS, WEMABANK, STERLNBANK, DIAMONDBNK, GUARANTY and ZENITHBANK as the sector was trailed by the bullish sentiments in the insurance sector 1.94% upon buying interest in AIICO, LINKASSURE, VERITASKAP, NIGERINS among others. On the flip side, industrial goods sector was depressed by -2.04% as profit taking drove the prices of CCNN, WAPCO and DANGCEM in the red. Consumer goods and oil/gas indexes also declined in the week upon losses in heavyweight stocks; UACN, UNILEVER, SEPLAT, MOBIL and FO. In all, the total volume and value of stocks trading this week surged significantly Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 60.98 61.52 0.89 Gold 1282.66 1298.11 1.20 Silver 15.35 15.68 2.15 Platinum 803.2 816.4 1.64 Copper 265.15 272.55 2.79 Money Market Rates Rate(%) %Δ Overnight rate 13.00 0.00 Open Buy 12.08-0.25 w-o-w returns chart Gainers %Δ FIDELITYBK 24.38 CAVERTON 22.63 FCMB 22.16 ACCESS 16.07 ROYALEX 14.81 REDSTAREX 13.64 WEMABANK 12.90 AIICO 12.70 LINKASSURE 12.50 STERLNBANK 12.44 losers %Δ RESORTSAL -23.08 SOVRENINS -19.23 UBN -8.89 SEPLAT -6.25 FIDSON -5.05 MBENEFIT -4.76 PZ -4.64 CCNN -4.38 MOBIL -4.26 UAC-PROP -3.64
by 42.27% and 28.01% to 1.81billion and N17.23billion respectively. Thus, it was exchanged in 18,325 deals. Away from that to today s activities, the local bourse took cue from the banking sector following the news of the progress in DIAMONDBNK- ACCESS merger and acquisition process thereby pushing the market largely in the green territory as the equities capitalization ended at N11.72trillion. Today, dip buying helped the prices of LINKASSURE, SOVRENINS, REGALINS, JAIZBANK, LIVESTOCK and TRANSCORP to close in the green while bargain hunting was sustained in ACCESS, CAVERTON, HONYFLOUR, UNITYBNK, WEMABANK, FBNH, CHAMPION, GUARANTY, ZENITHBANK among other counters as profit was taking in MANSARD, NPFMCRFBK, FLOURMILL thereby closing in the red from previous positive close. The technical indicators inched northward as RSI rose 5.58 to end at 60.25 and Year-to-Date return by 139 basis points to finish slightly down at -0.01%. In addition, the total volume stocks traded rose significantly by 55.51% to 417.17million as against the marginally contraction in total value traded by - 0.05% to finish at N3.14billion which were exchanged in 3,970 deals. Review of Sectoral Performance Banking sector topped the three positive sectors by 4.78% increase its index on the back of substantial positive sentiments around most of its counters topped by DIAMONDBNK 10.0%, FCMB 9.69%, FIDELITYBK 9.17%,ACCESS 8.33%, UBA 6.21%, ZENITHBANK 3.84% and GUARANTY 2.68%. Similarly, oil/gas and insurance indexes rose over 100 basis points due to price appreciation in TOTAL 10.0%, OANDO 2.11%, ETERNA 1.14%, NIGERINS 8.33%, AIICO 7.58%, and REGALINS 4.75%. On the decliners side, industrial goods sector dipped the most at -0.48% to 1318.97 while consumer goods index slide by -0.14% as a result of decline in the prices of PZ -4.64%, UNILEVER -1.22% and FLOURMILL -0.51% Movement of NSEASI(Year-to-Date) Relative Strength Index (RSI) Source: MorganCapital Research
NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) YTD(%) NSE All Share Index 30,989.60 31,426.63 1.41 1.36-0.01-0.01 NSE Banking Sector Index 388.10 406.64 4.78 7.15 2.07 2.07 NSE Industrial Goods Index 1,325.39 1,318.97-0.48-2.02 6.55 6.55 NSE Consumer Goods Index 721.82 720.82-0.14-0.42-3.74-3.74 NSE Oil & Gas Index 273.98 278.95 1.81-1.32-7.73-7.73 NSE Insurance Index 123.40 124.75 1.09 1.94-1.37-1.37 Source: NSE, MorganCapital Research Market sentiment It was all party for the bulls today as investors ignited strong buying interest in 32 counters as against negative sentiment around 7 counters consequent upon which investors sentiment surged, as reflected in the positive market breadth 4.57x. Best Performed stocks Least Performed stocks Ticker Close Change %Δ Ticker Price Change %Δ DIAMONDBNK 2.31 0.21 10 CHIPLC 0.35-0.03-7.89 TOTAL 214.5 19.5 10 NPFMCRFBK 1.46-0.12-7.59 CAVERTON 2.33 0.21 9.91 PZ 11.3-0.55-4.64 FCMB 2.15 0.19 9.69 UAC-PROP 1.59-0.06-3.64 WEMABANK 0.7 0.06 9.38 MANSARD 1.95-0.05-2.5 FIDELITYBK 2.5 0.21 9.17 UNILEVER 36.55-0.45-1.22 ACCESS 6.5 0.5 8.33 FLOURMILL 19.5-0.1-0.51 NIGERINS 0.26 0.02 8.33 UACN 8.65 0.05 0.58 AIICO 0.71 0.05 7.58 IKEJAHOTEL 1.68 0.01 0.6 CHAMPION 1.7 0.11 6.92 FBNH 7.65 0.05 0.66 Top Traded Stocks by Volume Top Traded Stocks by Value Deal Volume %Δ Ticker Deal Value %Δ DIAMONDBNK 230 89,759,268.00 473.4 ZENITHBANK 402 805,998,747.25-0.06 FBNH 235 64,621,009.00 122.89 GUARANTY 197 637,901,962.55 55.03 ACCESS 429 60,506,128.00 418 FBNH 235 492,492,170.95 126.57 TRANSCORP 269 36,620,498.00 90.59 ACCESS 429 387,276,010.45 453.86 ZENITHBANK 402 35,708,155.00-2.1 DIAMONDBNK 230 204,819,482.39 520.99 FCMB 164 29,824,872.00 49.14 DANGCEM 57 81,430,832.50 31.62 FIDELITYBK 181 19,470,772.00 0.79 FCMB 164 62,103,381.52 59.19 GUARANTY 197 18,746,049.00 52.86 FLOURMILL 106 60,140,857.55 111.78 WEMABANK 74 12,181,314.00 339.55 UBA 181 52,882,640.90-77.24 UBA 181 6,993,193.00-77.9 NESTLE 29 52,624,053.00-76.98 Source: NSE, MorganCapital Research
NASD OTC Performance PARAMETER Previous Current Weekly(%) Daily (%) USI 745.14 744.38-1.33-0.10 Capitalization ( 'Bn) 535.34 534.79-1.33-0.10 Volume Traded 71341 181473-98.51 154.37 Value Traded ( '000) 1140.58 3051.23-88.65 167.52 Deals Executed 10 6 20.00-40.00 NSEASI & Moving Averages (100 and 200-day) Source: NSE, MorganCapital Research Top Performers Global Market Performance in One week @ 24/01/2019 Top Decliners Index Δ Index Δ Turkey 5.12% Nigeria -4.62% Russia 2.70% Luxembourg -4.18% Spain 2.65% Hungary -0.88% Thailand 2.55% Mexico -0.83% Brazil 2.44% Mongolia -0.83% Netherlands 2.05% Singapore -0.74% Finland 2.02% India -0.49% Argentina 1.97% Egypt -0.41% Frankfurt 1.94% London -0.23% Korea 1.80% Rus 2000-0.23%
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