Daily Equities Market update Less exciting session as the bears maintain charge! NASDUSI opens downtrend by -1.76% March 11, 2019
Headline Ibunkun Oriola Joins UAC as Group Financial Director The Tourist Company announces delay in Filing its report. ACCESS clarifies publication on Metal Africa Steel Products Ltd The Board of 11 Plc approved the company s Audited Accounts Market Summary The bears still maintained strong grip on the equities market today thereby seeing the NSE All Share Index declined by 90 basis points. However, we noted that activities were somewhat calm as the bourse is devoid of positive news or 2018 financial results to trigger it uptrends. It however reveals that investors confidence needs to be stimulated so as to enhance the market performance, and to realize the full impact of expected positive performance of the fundamentally sound counters that are yet to declare results. Money Market Rates Rate(%) %Δ Overnight rate 11.58 1.50 Open Buy 10.83 1.67 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 64.81 66.53 2.65 Gold 1298.72 1293.31-0.42 Silver 15.37 15.29-0.52 Platinum 816.24 811.95-0.53 Copper 289.5 290.9 0.48 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 736.4 723.44-1.76 Capitalization 529.06 519.75-1.76 ( 'Bn) Volume Traded Value Traded ( '000) Deals Executed 316400 2826701 793.39 4158.95 14952.37 259.52 5 12 140.00 ` Away from that, negative sentiment was maintained in DANGFLOUR, STERLNBANK and UBA as investors reneged their position while profits were taken in WAPIC, TRANSCORP, FIDELITYBK, UBN and FCMB. On the flip side, NPFMCFBNK, UCAP and ZENITHBANK counters which closed in the positive territory last week Friday continued uptrend while dip buying helped the prices of DIAMONDBNK, NEIMETH and FBNH to finish in the positive region from the previous losses recorded. As the benchmark index shed -0.90% to end today s session at 31,636.66 today, the equities market capitalization also lost N107.34billion to end at N11.797trillion.
The Relative Strength index(rsi) declined to January 31, 2019 low at 45.10 from 50.24 it printed last week while Year-to-Date(YTD) also fell to February 8, 2019 low at 0.66% from 1.57%. However,upon the decline in trading activities, the total volume of stock traded dipped -44.97% to close at 128.37million as against slight increase in its equivalent value by 5.08% to N2.39billion which were exchanged in 2,752 deals. Review of Sectoral Performance Most sectors ended in the red territory save for marginal gain of 0.01% in oil and gas index to close at 291.86 upon price appreciation in MOBIL 0.06% which offset the decline in JAPAULOIL -4.76%. On the decliners table, banking sector index dip the most by -2.87% to end at 414.40 as a result of sell pressure in STERLNBANK -8.51%, JAIZBANK -3.33%, ETI - 2.14%, FCMB -1.89%,UBN -1.43%, FIDELITYBK -1.3% and UBA -0.65%. In the same manner, consumer and industrial goods indexes went down -0.68% and -0.53% due to negative interest in NESTLE -1.99%, DANGFLOUR -1.44%, INTBREW -1.11% and WAPCO -3.45%. Insurance sector also dropped by -0.53% to close the session at 130.25 on the back of selloffs in CORNERST -8.7% and WAPIC -4.76%. 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 31,924.51 31,636.66-0.90-0.90-0.26 0.66 NSE Banking Sector Index 426.64 414.40-2.87-2.87 0.80 4.02 NSE Industrial Goods Index 1,254.54 1,248.96-0.44-0.44-1.90 0.90 NSE Consumer Goods Index 723.46 718.51-0.68-0.68-1.62-4.05 NSE Oil & Gas Index 291.84 291.86 0.01 0.01-2.26-3.46 NSE Insurance Index 130.95 130.25-0.53-0.53-2.27 2.98 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed negative at 0.74x Investors sentiment declined further from 0.9x recorded on Friday as 14 counters closed in the bullish market while 19 finished downtrends. However, we maintained our position that a sustainable trend reversal is on the horizon. Thus, investors are to position in defensive counters. Source: MorganCapitalitrade
MorganCapital Securities Limited ("MorganCapital"), formerly known as International Capital Securities Limited, was incorporated on 28th January, 1997; and was issued a license as a Dealing Member of the NSE on 3rd October, 1997, after obtaining license of the Securities & Exchange Commission (SEC) as a Broker/Dealer. The Company has remained a dealing member firm of the NSE since then (over 17years ago). In 2009, MorganCapital got licensed by the SEC to perform an additional role as an Issuing House/Financial Adviser. MorganCapital was recently accredited by the Nigerian Stock Exchange as a Designated Adviser to the Alternative Securities Market (ASeM) Board, after a very rigorous and competitive process. MorganCapital is a full fledge Investment Banking, Securities Trading and Principal Investments Firm, with licenses from the Nigerian Securities & Exchange Commission and the Nigerian Stock Exchange. MorganCapital provides a comprehensive range of investment banking and financial advisory services to private, public sector, corporate, and institutional clients. Our firm has very strong contacts with many African-focused & emerging markets investors/fund managers. MorganCapital has advised on a number of transactions in the Nigerian Capital Markets, including provision of Financial Advisory Service to the Federal Government of Nigeria, through the Bureau of Public Enterprises ("BPE") for the concessioning of the National Arts Theater, the Tafawa Balewa Square, the Lagos Trade fair complex and the 6 National Stadia. MorganCapital also advised the BPE on the proposed sale of the Ijora Power Plant, the Calabar Power Plant and the Oji River coal-fired power plant. Our group is focused on providing unbiased financial advisory and investment banking services to individuals and institutions that are seeking to invest in Africa or already involved in investing in Africa. One of our goals is to be the BEST link to the Nigerian Capital Market. CONTACT US Research Omosuyi Temitope temitopeo@morgancapitalgroup.com Investment Banking Dipo Olomofe dipoo@morgancapitalgroup.com Adewale Adetiba adewalea@morgancapitalgroup.com Securities Dealing Esther Adelaja esthera@morgancapitalgroup.com Michael Joel michaelj@morgancapitalgroup.com For further information, please contact: MorganCapital Securities Limited The Pent House 3 Biaduo Street, Off Keffi Street S/West Ikoyi Lagos, Nigeria Tel: 234-(1) 3429613, 234-(1)4540114 Email: info@morgancapitalgroup.com This report by MorganCapital Securities Ltd is for information purposes only. The company and its employees do not warrant the accuracy or completeness of the information provided as such information was gathered from primary and secondary reliable sources. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of market trends, which are based on current market sentiment. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for a ll investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of equity securities may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. We, therefore, do not take responsibility for any loss arising from the use of the information.