Daily Equities Market update Market RSI breaks resistance slightly NASDUSI continues southwards -0.06% April 02, 2019
Headline CWG receives permission to extend the filing of its FY 18 reports. DAARCOM, NAHCO and LASACO notify on delay in 2018 reports filing. ACCESS announces dual listing of N15billion corporate green bond Capital Hotel declares 50k0b0 dividend per share payout FLOURMILLS announces the resignation of Mr. Rotimi Fadipe Market Summary/e The bears undeterred influence on the equities market pushed NSEASI further downtrends today, even amidst positive outlooks on the domestic economy, and a number of stimulus policy to attract the bulls. However, on the back of intensified sell pressure witnessed today, the RSI dipped slightly below the oversold region, after it recovered from the dip printed on 3 rd of December, 2018. This portends that the likelihood of the bourse to rally uptrends is stronger than the previous months. Meanwhile, negative sentiment perpetuated in BETAGLAS, NB, OANDO, FIDELITYBK, NESTLE, DANGFLOUR, ETI, FBNH and UACN while CAVERTON, UNITYBNK, CHAMS and ZENITHBANK turned in the red territory from the price appreciations recorded previously. Money Market Rates Rate(%) %Δ Overnight rate 17.43 11.86 Open Buy 16.57 11.57 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 68.65 69.35 1.02 Gold 1290.07 1290.03 0.00 Silver 15.11 15.04-0.46 Platinum 850.75 848.14-0.31 Copper 292.05 290.85-0.41 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 736.54 736.08-0.06 Capitalization ( 'Bn) 529.15 528.83-0.06 Volume Traded 1032660 160179-84.49 Value Traded ( '000) Deals Executed 18637200 8211859.8-55.94 13 13 0.00. On the other hand, investors still maintained strong buying interest in IKEJAHOTEL, FCMB and STANBIC while significant positive sentiment helped WEMABANK to finish in the bullish market from the decline recorded yesterday following its proposed dividend payout of 3 kobo per ordinary share. The Capital Market Benchmark Index closed 100 basis points lower to end the session at 30,226.77 while the capitalization shed
N169.0billion to finish at N11.52trillion. As earlier noted, the Relative Strength Index (RSI) broke its lower bound (oversold region) to a low of 29.10 from 33.08 it closed at yesterday. In similar manner, the Year-to-Date(YTD) return continued around its January 2019 lows at -3.83%. Save for the outlier recorded in total volume of stocks traded yesterday, it ended above the average daily traded to close at N376.95million while the total value traded advanced 23.32% to N4.54billlion. Review of Sectoral Performance Two sectors finished uptrends today. Thanks to the improved buying interest in counters of industrial goods and insurance indexes as they inched 0.14% and 0.93% following price appreciation in DANGCEM 1.05%, SOVRENINS 10.0% and NEM 4.95%. On the decliners space, consumer goods index plunged -3.84%, owing to sell-offs in its eight(8) counters topped by NB -9.68%, VITAFOAM -9.62%, CHAMPION -8.97% and UNILEVER -8.46%. Similarly, banking and oil/gas indexes went down -1.11% and - 1.75% JAIZBANK -5.77%, FIDELITYBK -4.74%, ZENITHBANK -2.74%, FO -9.93% and OANDO -7.84%. 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 30,531.69 30,226.77-1.00-2.62-2.62-3.83 NSE Banking Sector Index 402.24 397.79-1.11-1.53-1.53-0.15 NSE Industrial Goods Index 1,202.49 1,204.15 0.14-2.87-2.87-2.72 NSE Consumer Goods Index 676.26 650.27-3.84-8.58-8.58-13.16 NSE Oil & Gas Index 286.51 281.50-1.75-3.10-3.10-6.89 NSE Insurance Index 125.30 126.47 0.93 0.39 0.39-0.01 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed negative at 0.36x As negative sentiment persists, 28 counters finished in the bearish market while 10 counters closed in the positive territory. We believe that the decline in market value has created more room for bargain hunters to take position in fundamentally sound stocks. Source: MorganCapitalitrade
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