Daily Equities Market update Market shrugs off the bears, resumes uptrend NASDUSI dips further by -1.60% February 14, 2019
Headline Newrest ASL announces to pay a final dividend of 20 kobo per 50 kobo ordinary share, and also to hold its AGM on May 16,2019. Market Summary The Nigerian capital market turned positive today after the bearish pummel which took down most bellwether counters yesterday. Thus, it represents a partial recovery to the previous loss, but also invalidated the expected downturn which was supposed to have been triggered by the uncertainties of the general election. However, it seemed the negative impact of the elections might have been factored into the stock prices prior this month as most bellwethers counters are still trading near their 52-week lows. Even though the momentum of positive sentiments has decelerated on a number of stocks, investors buying interest has continued to keep the prices of UNILEVER, LIVESTOCK, UNITYBNK, JAIZBANK, WEMABANK, CCNN and REGALINS in the positive territory while hunt for bargain put pressure on the prices of PZ, UCAP, SOVRENINS, NEM, FCMB, STERLNBANK, CUSTODIAN, UBA, HONYFLOUR and DANGCEM thereby ending in the bullish market from previous losses. On the contrary, UNIONDAC, DANGFLOUR and NB were depressed as investors reneged their positions today while negative sentiment was sustained ACCESS, OANDO and ZENITHBANK. Money Market Rates Rate(%) %Δ Overnight rate 16.00-7.17 Open Buy 15.00-5.00 Daily Commodity Price Watch ` Previous Current Daily (%) Brent($/PB) 63.77 63.89 0.19 Gold 1312.96 1309.84-0.24 Silver 15.68 15.52-1.02 Platinum 789.44 782.16-0.92 Copper 277.35 276.7-0.23 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 740.84 728.96-1.60 Capitalization 532.24 523.71-1.60 ( 'Bn) Volume Traded Value Traded ( '000) Deals Executed 2005434 207716-89.64 2965.91 4192.27 41.35 7 11 57.14 Following the gains recorded in most counters, the benchmark index advanced 0.12% to end the session at 32,453.69 while the bourse capitalization gained N14.83billion to finish at N12.012trillion.?
That said, the total volume and value of stocks traded dipped -10.00% and -12.08% to 423.38million and N3.73billion in that order just as the number of trade deals shed -24.60% to close at 4,417 from 5,858 recorded yesterday. Consequent upon the uptick in market index, the Relative strength index(rsi) advanced to 70.34 from 69.97 as the YTD return touched 3.26%. Review of Sectoral Performance Similar to the number of sectors in negative territory yesterday, banking sector and oil/gas indexes fell marginally -0.45% and -0.75% to close at 432.69 and 290.78 respective due to price depreciation in its counters topped by FIDELITYBK -6.47%, ACCESS -6.34%, FCMB -4.18%, FO -5.72%, SEPLAT -3.33% and OANDO -1.69%. On the other hand, insurance index topped the gaining sectors as its rose 1.17% to finish at 128.63 upon positive sentiment around LASACO 6.45%, NIGERINS 4.55%, REGALINS 4.35% and LINKASSURE 0.52%. Industrial and consumer goods indexes followed closely as its rose 0.71% and 0.27% to 1,295.97 and 766.26 respectively as a result the capital gains in WAPCO 3.08%, DANGCEM 0.53%,CCNN 0.23%, UNILEVER 10.0%, DANGFLOUR 6.06% and NB 1.19%. Movement of NSEASI(Year-to-Date) Source: MorganCapital Research Relative Strength Index(RSI) diatribes Source: MorganCapital Research
NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) YTD(%) NSE All Share Index 32,413.92 32,453.69 0.12 2.93 6.21 3.26 NSE Banking Sector Index 434.64 432.69-0.45 0.93 11.23 8.61 NSE Industrial Goods Index 1,286.82 1,295.97 0.71 2.68-1.02 4.69 NSE Consumer Goods Index 764.18 766.26 0.27 5.65 9.76 2.33 NSE Oil & Gas Index 292.97 290.78-0.75 1.61 3.75-3.82 NSE Insurance Index 127.14 128.63 1.17 1.40 5.12 1.70 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed positive at 1.69x Investors sentiment as proxied by the positive market breadth, turned northward today after its previous plunged. The reversal was due to the gains recorded in 22 counters as against 13 which ended in the red territory. Meanwhile, we have observed that bargain hunting opportunity is present in the industrial and oil/gas sector. Source: MorganCapitalitrade
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