Weekly Financial Market update Inverted yield curve portends crises abroad, the bulls resume on NSE Unlisted Securities market finishes in the green March 22, 2019
Weekly financial Market Update Weekly Market Summary: The Market breadth closed positive at 1.05x Save for the political uncertainties that have continued to drag the equities market in bearish region in the last one week, the dovish international monetary policy attitude (the US and other advanced economies) on the back of expected sluggish global growth due to the fall out of US-Sino trade rift as reflected in the inverted yield curve abroad, and domestic macroeconomic indicators(gdp, inflation rate, balance of payment and exchange rate) signaled that the bourse is ready for a significant turn uptrend. Similarly, the convergence of the NSEASI 100-day and 50-day moving averages as well as shift in the trajectory of the moving standard deviation also provided cues for a rally. Away from that, the capital market resumed the week under water by -0.06%. It dipped further in preceding three trading days but ended in the green territory today as investors renewed buying interest in banking and industrial goods sector. Banking and industrial goods indexes surged 3.82% and 2.42% on week-on-week basis as a result buying interest in ACCESS, FIDELITYBK, FCMB, NPFMCRBK, GUARANTY, UBA, CCNN and WAPCO. However, oil and gas and consumer goods sector bled -3.95% and -2.30%w/w upon sell-offs in CADBURY, PRESCO, SEPLAT, NB, CHAMPION, NESTLE, TOTAL, FO, OANDO, NASCON and UNILEVER, among others. In the same manner, insurance sector dipped - 1.09%w/w owing to capital losses in SOVRENINS, NEM and REGALINS. Daily Commodity Price Watch Leading the Global Investment Path to Africa Previous Current Daily (%) Brent($/PB) 68.05 66.62-2.10 Gold 1309.49 1312.85 0.26 Silver 15.49 15.43-0.39 Platinum 862.4 848.85-1.57 Copper 292.05 285.25-2.33 Money Market Rates Rate(%) %Δ Overnight rate 14.83-2.42 Open Buy 14.25-1.75 w-o-w returns chart Gainers %Δ MCNICHOLS 22.81 ACCESS 18.10 DANGFLOUR 13.73 FIDELITYBK 10.75 PRESTIGE 10.00 CCNN 10.00 CAVERTON 9.68 MEYER 9.26 ETERNA 9.09 INTBREW 8.11 losers %Δ CUTIX -17.78 CADBURY -17.50 IKEJAHOTEL -17.39 ROYALEX -17.14 UAC-PROP -12.82 SOVRENINS -12.00 PRESCO -9.33 ABCTRANS -9.26 BETAGLAS -8.92 SEPLAT -7.86
That said, the total volume of stocks exchanged this week rose 7.65% to 1.19billiom from 1.11billion while its equivalent value went down by -9.16% to finish at N12.23billion from N13.46billion. However, the total deals executed advanced significantly 21.69% to 18,286 from 15,027 reflecting that trading activities were more prevalent in lighter weight counters. The Relative Strength Index(RSI), after it freefall which began on 5 th of May,2018 moved northward today to 41.02 from 33.59 it closed yesterday just as the Year-to-Date(YTD) return inched up to -0.93% from -1.73%, although still in the negative region. Review of Sectoral Performance The bulls took hold on the market today thereby seeing four of the five sectors under review ending in their market. Banking and industrial goods indexes advanced 1.37% and 1.72% to end at 415.77 and 1,270.51 respectively upon price appreciation in GUARANTY 3.73%, FCMB 2.60%, UBA 1.3%, MEYER 9.26%, CCNN 4.5% and DANGCEM 0.85%. Insurance sector also trailed by 1.46% on the back of positive sentiments in PRESTIGE 10.0%, WAPIC 7.69%, LASACO 3.23%, NEM 1.74% and AIICO 1.41%. On a lighter vein, consumer goods sector inched up 0.40% following the gains recorded in INTBREW 8.11%, CHAMPION 3.57% and DANGFLOUR 2.65%. Oil and gas sector ended -0.36% lower to 280.54 due to negative sentiments which drove the prices of TOTAL -2.0% and FO -1.07% in the red territory. Movement of NSEASI(Year-to-Date) Relative Strength Index (RSI) Source: MorganCapital Research Leading the Global Investment Path to Africa
NSE Market Indices Return Open(points) Close(points) Daily(%) WtD(%) MtD(%) YTD(%) NSE All Share Index 30,885.31 31,139.35 0.82-0.01-1.83-0.93 NSE Banking Sector Index 410.16 415.77 1.37 3.82 1.14 4.36 NSE Industrial Goods Index 1,248.98 1,270.51 1.72 2.42-0.21 2.64 NSE Consumer Goods Index 700.93 703.73 0.40-2.30-3.65-6.02 NSE Oil & Gas Index 281.56 280.54-0.36-3.95-6.05-7.20 NSE Insurance Index 126.65 128.50 1.46-1.09-3.58 1.60 Source: NSE, MorganCapital Research Market sentiment Our positive outlook on the equities market is still maintained. Hence, we advise investors to trade cautiously before the qualification dates of dividend payouts of the listed companies so as not to be trapped in the bull market. Best Performed stocks Least Performed stocks Ticker Close Change %Δ Ticker Price Change %Δ PRESTIGE 0.55 0.05 10.00 CADBURY 9.90-1.10-10.00 MEYER 0.59 0.05 9.26 UPL 1.85-0.20-9.76 INTBREW 26.00 1.95 8.11 UAC-PROP 1.70-0.16-8.60 WAPIC 0.42 0.03 7.69 REGALINS 0.24-0.02-7.69 CHIPLC 0.29 0.02 7.41 PZ 10.50-0.75-6.67 CCNN 20.90 0.90 4.50 UNITYBNK 0.81-0.04-4.71 GUARANTY 37.50 1.35 3.73 NASCON 20.00-0.90-4.31 UCAP 2.85 0.10 3.64 UNIONDAC 0.29-0.01-3.33 CHAMPION 1.45 0.05 3.57 WEMABANK 0.77-0.02-2.53 LASACO 0.32 0.01 3.23 TOTAL 196.00-4.00-2.00 Top Traded Stocks by Volume Top Traded Stocks by Value Ticker Deal Volume %Δ Ticker Deal Value %Δ ACCESS 499 98,927,367.00-18.04 ACCESS 499 722,233,066.35-24.92 ZENITHBANK 332 21,050,150.00 1640.68 GUARANTY 142 589,572,056.75-50.16 GUARANTY 142 15,851,769.00-25.63 ZENITHBANK 332 463,298,512.95 86.65 STERLNBANK 42 11,102,910.00 127.46 NESTLE 39 216,102,201.80-99.77 WAPIC 44 8,199,679.00 312.98 DANGCEM 55 68,783,825.00 214.07 UBA 208 8,125,787.00-9.87 UBA 208 64,031,989.00 116.23 TRANSCORP 86 6,553,117.00-99.94 SEPLAT 35 50,388,566.00-99.94 UAC-PROP 48 5,972,472.00-61.18 FO 57 43,991,505.15-54.62 FIDELITYBK 94 4,707,026.00 11.00 FBNH 127 38,576,037.00 90.52 FBNH 127 4,691,032.00-45.09 DANGFLOUR 83 29,719,281.35 496.32 Source: NSE, MorganCapital Research Leading the Global Investment Path to Africa
NASD OTC Performance PARAMETER Previous Current Weekly(%) Daily (%) USI 749.95 750.56 2.25 0.08 Capitalization ( 'Bn) 538.79 539.23 2.25 0.08 Volume Traded 22000 13196925 63.51 59886.02 Value Traded ( '000) 1046540 1.89E+08 69.00 17986.44 Deals Executed 3 7-22.22 133.33 NSEASI & Moving Averages (50, 100 and 200-day) Source: NSE, MorganCapital Research Top Performers Global Market Performance in One week Top Decliners Index Δ Index Δ Shenzhen 4.80% Vietnam -2.64% Russia 4.71% Brazil -1.90% SZ SME 4.14% Egypt -1.63% Shanghai 3.70% Jordan -1.17% Mexico 3.53% Malaysia -0.65% Chinext 3.25% Frankfurt -0.32% NASDAQ 2.73% Switzerland -0.29% Philippines 2.64% Australia -0.21% Abu Dhabi 2.60% Thailand -0.11% Taiwan 2.52% Portugal -0.09% Leading the Global Investment Path to Africa
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