Daily Equities Market update The bulls peep! NASDUSI makes a turn in the green 2.51% March 28, 2019
Headline GLAXOSMITH, PREMIERPAINTS and CHAMS release 2018 Audited financial statements today GLAXOSMITH proposes 50kobo dividend per ordinary share UAC appoints Mr Folasope Babasola as GMD/CEO of the company. Market Summary/e The Nigerian capital market closed slightly in the bullish territory as listed companies begin to awash the market with their FY 18 Audited Financial statements so as to prepared to release Q1 2019 results in April 2019. On the qualitative(lead) indicator, Purchasing Managers index report from the CBN for March 2019 revealed that manufacturing and nonmanufacturing PMI remained on the expansion path (above 50-threeshold) at 57.4 and 58.5 relative to 57.1 and 58.4 it printed last month. Away from that to the second question of our analysis which began yesterday, the figure below depicts that Monetary Policy Rate(MPR) is positively correlated with the maximum lending rate. Thus, it implies that cost of credits(loans) should follow the cut in MPR thereby incentivizing investment and productivity in the real sector, as such spurring the equities market uptrends while the debt market becomes less attractive. However, the perennial risks and tailbacks of Nigeria business environment remain major downsides to the effectiveness of expansionary monetary policy to stimulating economic growth. Money Market Rates Rate(%) %Δ Overnight rate 10.71-4.79 Open Buy 10.07-5.07 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 67.1 66.79-0.46 Gold 1311.36 1291.56-1.51 Silver 15.3 15.05-1.63 Platinum 855.84 842.62-1.54 Copper 286.2 287.5 0.45 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 730.37 748.73 2.51 Capitalization ( 'Bn) 524.73 537.92 2.51 Volume Traded 290539 33723-88.39 Value Traded ( '000) Deals Executed 56498862 8613840.5-84.75 10 10 0.00. Source: MorganCapital Research
As earlier noted, index ended marginally uptrends by 0.01% to 30,833.5 upon renewed buying interest in NASCON, PRESCO, GUARANTY, WEMABANK, WAPIC, UACN and FBNH while profits were taken in UBN, CADBURY, FIDELITYBK, ZENITHBANK and TRANSCORP depressed its prices from previous gains. Meaniwhile, sell pressure has continued to weigh on PZ, DANGFLOUR, CUSTODIAN and ACCESS. That said, equities market cap. gained N1.5billion to close the session at N11.59trillion. Consequent upon which the Relative Strength Index (RSI) inched up slightly to 35.40 from 35.27 while the Year-to-Date(YTD) return finished at -1.90%. The total volume of stocks traded today recorded an outlier as it advanced 1359.01% to 1.9billion, following surge in the total activities on WEMABANK(1.7billion). Similarly, the value traded also rose 99.79% to finish at N2.8billion which were exchanged in 2,807 deals. Review of Sectoral Performance Save for the 0.36% appreciation in the Banking sector index due to positive sentiment around WEMABANK 9.59%, GUARANTY 2.5%, ETI 1.15%, UBA 0.65% and FBNH 0.62%, other sectors ended in the red territory. Industrial goods index bled the most as it shed -1.35% to finish 1237.54 upon selloffs in CCNN -5.0%. oil and gas, and insurance indexes also dipped -0.13% and -0.12% respectively on the back of price depreciation in OANDO -0.88%, SOVRENINS -9.09% and AIICO -5.33%. Furthermore, consumer goods index ended fractionally down as a result of losses recorded in PZ -5.0%, DANGFLOUR -4.55%, CADBURY -2.68% and NB -0.37%. 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 30,829.45 30,833.50 0.01-0.98-2.79-1.90 NSE Banking Sector Index 406.92 408.39 0.36-1.78-0.66 2.51 NSE Industrial Goods Index 1,254.48 1,237.54-1.35-2.60-2.80-0.03 NSE Consumer Goods Index 695.86 695.28-0.08-1.20-4.80-7.15 NSE Oil & Gas Index 277.46 277.10-0.13-1.23-7.20-8.34 NSE Insurance Index 126.66 126.51-0.12-1.55-5.07 0.02 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed negative at 0.82x Investors sentiment continued in the deep as 14 counters finished in the bullish market while 17 ended in the red territory. We expect investors to focus more on the financial performances of counters of choice going forward. Source: MorganCapitalitrade
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