Daily Equities Market update Industrial goods index bleeds NASDUSI maintains positive sentiments March 25, 2019
Headline UPDL notifies on the delay in Filing its 2018 Audited Financial Statements ACCESS appoints Mrs. Chizoma Okoli as Executive Director, Business Banking Division Market Summary/e The Nigeria equities market opened the first trading session of the week in negative territory, although trading activities were substantially less than the daily average. This implies that most investors held their positions rather than trading the sudden fad. Thus, as we have noted last week, outlook on the equities market is largely positive, and the bulls are expected to dictate the trajectory of stocks performance in near term. On the monetary policy decisions tomorrow, we think the status quo would be maintained, as such no major impact on the capital market except if some new intervention policies are directed toward specific sectors of the economy thereby getting traction of investors interest. Money Market Rates Rate(%) %Δ Overnight rate 24.43 9.60 Open Buy 22.43 8.18 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 66.62 66.69 0.11 Gold 1312.85 1,321.59 0.67 Silver 15.43 15.58 0.97 Platinum 848.85 858.76 1.17 Copper 285.25 285.4 0.05 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 750.56 755.38 0.64 Capitalization ( 'Bn) 539.23 542.69 0.64 Volume Traded Value Traded ( '000) Deals Executed 13196925 134460 189000000 2333461-98.98-98.77 7 8 14.29 That said, seven counters; CHIPLC, CCNN, UCAP, LASACO, DANGFLOUR, FCMB and NEM which ended uptrend last week Friday turned in the south today as investors reneged their position. Similarly, sell pressure extended further in ACCESS, FIDELITYBK and NASCON. On the flip side, bargain hunters took the prices of UPL, UNITYBK, WEMABANK and STERLNBANK while positive sentiments continued to sustain STANBIC, AIICO and AFRIPRUD in the bullish market. Consequently, the benchmark index shed -0.31% to end at 31,042.32 while the equities market capitalization dipped N36.19billion to finish the session at N11.58trillion. Upon the sell pressure, Relative Strength Index (RSI) went down to 39.21 from 41.02 as the Year-to-Date(YTD)
return curved southward to -1.24% from -0.93%. Meanwhile, the, the total volume and value of stocks traded diverged in trajectory, the earlier declined -27.03% to end at 168.72million while the later advanced 43.37% to N3.57billion. The deals executed also closed lower by -6.30% to end at 3,048 from 3,253. Review of Sectoral Performance Today, all sectors finished in the bearish market, topped by industrial goods sector which dipped -1.64%, following sell-offs in CCNN -4.31% and DANGCEM -0.63%. Banking sector and Insurance indexes trailed by -0.78% and 0.91% to close at 127.25 and 412.52 respectively as a result of price depreciation in ACCESS -6.57%, FIDELITYBK -5.06%, NPFMCRFBK -5.03%, ZENITHBANK -2.49%, NEM -5.56% and LASACO -3.12%. In the same vein, negative sentiments depressed consumer goods and oil/gas indexes by -0.74% and -0.20% to 278.45 and 702.34 apiece on the back of capital losses in NASCON -5.0%, DANGFLOUR -4.31%, NESTLE -0.13%, OANDO -3.45% and MOBIL -1.76%. 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 31,139.35 31,042.32-0.31-0.31-2.13-1.24 NSE Banking Sector Index 415.77 412.51-0.78-0.78 0.34 3.54 NSE Industrial Goods Index 1,270.51 1,249.69-1.64-1.64-1.85 0.95 NSE Consumer Goods Index 703.73 702.34-0.20-0.20-3.84-6.21 NSE Oil & Gas Index 280.54 278.45-0.74-0.74-6.75-7.90 NSE Insurance Index 128.50 127.25-0.97-0.97-4.52 0.61 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed negative at 0.63x One factor has kept the equities market submerged in the red even amidst expectation of post-election rally a clear path of fiscal policy devoid of political incitement. Nonetheless, sound stocks remain viable option of investment as we await the bulls. Source: MorganCapitalitrade
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