Weekly Financial Market update VOLATILE FEBRUARY ENDs! as investors snap up bellwether counters today Unlisted Securities ends the week in green by 1.91% March 1, 2019
Weekly financial Market Update Weekly Market Summary: The Market breadth closed flat at 1.0x Obviously, investors will not forget the equities market performance of February 2019 in a hurry even after the long-awaited bullish trends surface and extend sustainably. However, MorganCapital research evaluated the degree of volatility this week compared to last week and this month using standard deviation and coefficient of variation as presented in the figure below. We observed that NSEASI volatility for this week(415pts) was higher than its values in three trading weeks in the month at 387pts,347pts and 169pts in the first, second and third week of February respectively. Similarly, index volatility in the same month at 726 was higher than 383 and 357 it printed at in Dec 18 and Jan 19 respectively due to the systematic risk(political uncertainties) which weighed heavily on investors sentiment thereby resulting to pervasive bearish sentiments and cautious trading strategy. Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 66.38 65-2.08 Gold 1314.96 1292.89-1.68 Silver 15.71 15.21-3.18 Platinum 870.66 858.67-1.38 Copper 295.8 292.9-0.98 Money Market Rates Rate(%) %Δ Overnight rate 17.42 3.17 Open Buy 16.33 3.17 w-o-w returns chart Gainers %Δ CORNERST 19.05 LIVESTOCK 15.52 CILEASING 9.98 NEIMETH 9.84 PZ 8.91 MBENEFIT 8.00 CUTIX 7.89 MANSARD 7.32 AFRIPRUD 6.82 NASCON 5.21 losers %Δ TRANSCORP -14.48 NPFMCRFBK -12.73 OANDO -11.54 UNILEVER -10.00 GOLDINSURE -8.33 WEMABANK -8.33 ETERNA -8.33 JAPAULOIL -8.00 ACCESS -7.81 FBNH -7.19
Away from that, the market resumed the week in trepidation of the likely aftermath of Nigeria presidential election results which was finally announced on Tuesday, but took significant negative toll on the equities market the preceding day after which the sell pressure dissipated today as the benchmark index ended slightly in the green territory at 0.34%, although dipped -2.2% w/w. Meanwhile, some investors took advantage of the jittery to buy the dip which supported the total volume and value of stocks trade uptrend by 18.27%w/w and 11.53%w/w to 1.75billion and N19.68billion as the deals executed also rose 9.17% to 22,314. As we have noted earlier, the bourse ended bullish while the equities market capitalization gained N40.47billion to end the session at N11.87trillion. Dissimilarly, the volume and value of stocks traded today shed -16.94% and - 28.76% to close the week at 341.95million and N3.75billion in that order. The Relative Strength Index(RSI) inched slightly in the north at 49.72 from 47.96 while the YTD return moved uptrend to 1.26%. Review of Sectoral Performance Most sectors ended the trading day northward howbeit marginally as against the decline in insurance index by -0.44% to end at 132.68 due to the sell pressure in GOLDINSURE -8.33%, WAPIC -6.98%, LASACO -6.06% and SOVRENINS -4.17%. To the advanced sectors, banking sector and oil/gas indexes topped the chart after gaining 0.40% and 0.30% respectively as a result of price appreciation in FIDELITYBK 6.82%, WEMABANK 4.05%, ACCESS 3.51%, FCMB 2.46%, TOTAL 5.26% and JAPAULOIL 4.55%. On a lighter vein, industrial and consumer goods indexes rose 0.26% and 0.08% to end at 1,276.48 and 730.95 upon buying interest in DANGCEM 0.67%, HONYFLOUR 3.05%, NESTLE 2.72% and NB 0.63%. 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 31,718.70 31,827.24 0.34-2.12 4.16 1.26 NSE Banking Sector Index 411.10 412.73 0.40-5.88 6.10 3.60 NSE Industrial Goods Index 1,273.20 1,276.48 0.26 0.93-2.51 3.12 NSE Consumer Goods Index 730.36 730.95 0.08-2.91 4.70-2.39 NSE Oil & Gas Index 298.61 299.51 0.30-1.33 6.87-0.93 NSE Insurance Index 133.27 132.68-0.44 3.01 8.43 4.90 `Source: NSE, MorganCapital Research Market sentiment As investors sentiment improved today after inching uptrends from the previous significant weak postures, we expect buying interest to linger next week however supported by the +financial results of the fundamentally sound companies and the waning political uncertainties. Best Performed stocks Least Performed stocks Ticker Close Change %Δ Ticker Price Change %Δ CILEASING 7.27 0.66 9.98 NPFMCRFBK 1.44-0.16-10.00 CORNERST 0.25 0.02 8.70 JAIZBANK 0.59-0.06-9.23 FIDELITYBK 2.35 0.15 6.82 DANGFLOUR 9.90-1.00-9.17 UCAP 3.35 0.17 5.35 GOLDINSURE 0.44-0.04-8.33 TOTAL 200.00 10.00 5.26 ROYALEX 0.33-0.03-8.33 JAPAULOIL 0.23 0.01 4.55 WAPIC 0.40-0.03-6.98 WEMABANK 0.77 0.03 4.05 LASACO 0.31-0.02-6.06 ACCESS 5.90 0.20 3.51 UNILEVER 38.70-2.30-5.61 HONYFLOUR 1.35 0.04 3.05 INTBREW 25.00-1.25-4.76 NESTLE 1510.00 40.00 2.72 CHAMPION 1.55-0.07-4.32 Top Traded Stocks by Volume Top Traded Stocks by Value Ticker Deal Volume %Δ Ticker Deal Value %Δ ZENITHBANK 665 64,507,920.00 191.72 ZENITHBANK 665 1,546,072,557.70 187.92 DIAMONDBNK 131 44,265,612.00 71.86 GUARANTY 404 567,234,319.20-65.48 TRANSCORP 259 43,393,631.00 192.6 DANGCEM 233 328,632,486.60-48.22 ACCESS 270 37,885,256.00 27.52 ACCESS 270 220,741,826.50 24.26 FIDELITYBK 154 21,574,846.00 68.2 NB 135 141,948,461.10 14.23 FCMB 152 18,457,571.00 45.23 UBA 275 140,668,767.60-25.05 UBA 275 18,418,232.00-26 NESTLE 56 138,240,802.40-85.4 GUARANTY 404 15,877,404.00-64.42 DIAMONDBNK 131 102,094,454.60 67.17 FBNH 159 11,796,769.00-39.3 FBNH 159 91,635,384.30-38.5 UAC-PROP 18 10,077,643.00-1.65 SEPLAT 64 58,020,947.90 84.19 Source: NSE, MorganCapital Research
NASD OTC Performance PARAMETER Previous Current Weekly(%) Daily (%) USI 735.18 749.25 2.09 1.91 Capitalization 52817.9 538.29 2.09-98.98 ( 'Bn) Volume Traded 80195400 62421-47.72-99.92 Value Traded 980004.1 3465.34 38.38-99.65 ( '000) Deals Executed 13 9-18.18-30.77 NSEASI & Moving Averages (100 and 200-day) Source: NSE, MorganCapital Research Top Performers Global Market Performance in One week Top Decliners Index Δ Index Δ Chinext 8.72% Argentina -3.81% Shanghai 6.87% Philippines -2.85% Shenzhen 6.87% Vietnam -2.24% SZ SME 6.14% Egypt -2.08% Italy 2.21% Singapore -1.99% Turkey 1.99% Mongolia -1.99% Czech 1.21% Mexico -1.73% NASDAQ 0.98% Korea -1.49% Spain 0.94% Indonesia -1.44% Paris 0.85% Brazil -1.39%
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