Daily Equities Market update All sectors in red! NASDUSI ends flat March 07, 2019
Headline JBERGER announces to hold its Board meeting on Tuesday March 19,2019 and Wednesday March 20,2019 FBNH debunks the media publication that it eyes listing in other market beyond Nigeria. STANBIC reports 4.27% and 53.86% increase in gross earnings and PAT respectively. C&I leasing notifies that its board will meet on Thursday 14 th March, 2019. Market Summary Most investors responses to the audited financial results released to date are not substantially positive. It however seemed the bourse is deeply enraptured in aftermath of the presidential election verdict and the upcoming governorship elections. These factors have waned trading activities as reflected in average volume, value and deals executed so far this month at 279.76million, N3.07billion and 3741 respectively compared to 394million, N4.65billion and 4,466 recorded in February 2019. Obviously, the prevailing systematic risk has significantly invalidated the rational expectation of positive earnings spurring share prices, and its contagious impact on the market or a least sound counters in its sector. Money Market Rates Rate(%) %Δ Overnight rate 9.58-0.17 Open Buy 8.50-0.33 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 65.93 65.9-0.05 Gold 1286.04 1285.24-0.06 Silver 15.09 15.03-0.40 Platinum 827.23 818.54-1.05 Copper 293.45 290.4-1.04 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 741.75 741.75 0.00 Capitalization 532.9 532.9 0.00 ( 'Bn) Volume Traded Value Traded ( '000) Deals Executed 2671781 10398-99.61 10208.4 1494.26-85.36 21 13-38.10 ` That said, sell pressure has continued to drive the prices of MCNICHOLS, SOVRENINS, AFRIPRUD, HONYFLOUR, LEARNAFRCA, PZ and DIAMONDBNK downtrend while profit taking depressed JAIZBANK, ACCESS, UCAP, GUARANTY and DANGCEM from the previous gains. On the flip side, positive sentiments pushed the prices of ETI, FIDELITYBK, CADBURY, LIVESTOCK, FCMB, DANGFLOUR, CUSTODIAN and ZENITHBANK in the positive territory from the losses it printed at yesterday.
Going forward, the benchmark index dipped further by -0.35% to finish the session at 32,049.73 just as equities market capitalization missed N41.65billion of its value to finish at N11.94trillion. The Relative Strength index(rsi) and Year-to-Date(YTD) also dipped slightly to 52.62 and 1.97% from 54.01 and 2.20% apiece. The total volume of stock traded rose 4.94% to close at 218.89million in contrast to -1.65% decline in its equivalent value to N2.73billion as the deals executed added 8.41% to close at 3,519. Review of Sectoral Performance All sectors bled today as the bears took dominance of most equities while others either recorded marginal appreciation or closed flat. Insurance and oil/gas indexes topped the decliners as the two sectors dipped -1.00% and -0.97% respectively due to sold-offs in MBENEFIT -8.0%, CORNERST -8.0%, LASACO -6.06%, SOVRENINS - 4.0%, MOBIL -5.56% and OANDO -1.75%. In similar manner, industrial and consumer goods indexes declined -0.39% and - 0.68% as a result of price depreciation in DANGCEM -0.76%, PZ -8.26%, FLOURMILL - 4.76, MCNICHOLS -3.7%, HONYFLOUR -0.77% and DANSUGAR -0.34%. Banking sector declined the least by -0.13% upon negative sentiments around JAIZBANK - 4.76%, DIAMONDBNK -2.41%, ACCESS -1.64%, GUARANTY -0.79% and UBN -0.71%. 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 32,121.74 32,049.73-0.22 0.70 1.04 1.97 NSE Banking Sector Index 427.76 427.22-0.13 3.51 3.92 7.23 NSE Industrial Goods Index 1,260.03 1,255.16-0.39-1.67-1.42 1.40 NSE Consumer Goods Index 735.57 730.60-0.68-0.05 0.03-2.43 NSE Oil & Gas Index 293.95 291.11-0.97-2.80-2.51-3.71 NSE Insurance Index 132.06 130.74-1.00-1.46-1.90 3.37 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed negative at 0.36x More counters ended in the red territory today as the breadth went further south to 0.36x from 0.4x recorded in previous session. Apparently, investors are becoming more apathetic to the equities market until the political risk overhangs are total cleared and a clear path is defined for the economy. Source: MorganCapitalitrade
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