Daily Equities Market update Index pares 30k Psychological line NASDUSI turns in the green territory April 03, 2019
Headline CUSTODIAN to hold its Board meeting on April 23,2019 The Board of UBA notifies to meet on April 16,2019 to consider Q1 2019 financial statements FCMB announces to hold its AGM on April 26,2018 OMOSAV announces delay in filing its FY 2018 Reports FIDSON proposes 15kobo dividend per 50kobo ordinary share DANGCEM closed period begins on 10th of April, 2018, for Q1 2019 results. Market Summary/e Were you caught off-guard today as the equities market zoomed downtrends? Don t be too nervous. it s all part of the inherent volatility in this asset class. However, you should also know that trying to stay ahead of the trends becomes more difficult when sentiments are largely driven by systematic risks rather than endogenously induced macroeconomic factors. Evidently, the index, as espoused by some Nigerian economists to be positively correlated with oil prices is invalidated in this period due to the influence of the fallout of 2019 general election, and the paucity of high-risk premium required to keep foreign investors in the system. Money Market Rates Rate(%) %Δ Overnight rate 17.50 0.07 Open Buy 16.71 0.14 Daily Commodity Price Watch Previous Current Daily (%) Brent($/PB) 69.35 69.52 0.25 Gold 1290.03 1290.45 0.03 Silver 15.04 15.07 0.20 Platinum 848.14 867.78 2.32 Copper 290.85 294.15 1.13 NASD OTC Indicators PARAMETER Previous Current Daily (%) USI 736.08 736.36 0.04 Capitalization ( 'Bn) 528.83 529.03 0.04 Volume Traded 160179 779360 386.56 Value Traded ( '000) Deals Executed 8211859.8 11384260 38.63 13 10-23.08. In all, we believe most heavyweight counters are now significantly underpriced thereby providing more opportunities for bargain hunters to take position, and long-term investors to average down holdings. That said, the selling spree witnessed today further drove down the prices UBA, FBNH, CAVERTON, DANGFLOUR, ZENITHBANK, JAIZBANK, ETI, TRANSCORP and UACN. Meanwhile, FCMB, DANGSUGAR, WEMABANK, DANGCEM and AFRIPRUD were pulled in the red territory from the previous gains recorded. Even amidst the profound sell-offs, SOVRENINS continued to maintain performance uptrend
just as NB, STERLNBANK, NESTLE, OANDO and LIVESTOCK ended in the bullish market from previous losses. Consequently, Benchmark index went down by -1.85% or 555.04 to end the session at 29,668.73 while the equities market capitalization shed N209.60billion to close at N11.14trillion. The Relative Strength Index (RSI) fell significantly below its support at 23.52. Similarly, the Year-to-Date(YTD)return plunged to -5.61% from - 3.83%. The total volume and value traded closed above their respectively daily average, rose 43.94% and 24.83% to end at 542.58million and N5.66billion while the deals inched up by 3.19% to 4,146. Review of Sectoral Performance Consumer goods and Oil/gas indexes rose 1.20% and 0.26% even amidst the negative sentiment. The sector ended in the bullish market due to buying interest in NB 5.45%, NESTLE 3.57% and OANDO 2.13%. On the contrary, Banking and Industrial goods indexes dipped significantly by - 4.59% and -4.42% respectively, following sell-offs in ACCESS -10.0%, UBA -8.03%, FCMB -7.89%, FBNH -6.96%, CCNN -9.75%, WAPCO -9.74%, CUTIX -5.26% and DANGCEM -1.55%, among others. Insurance sector also dipped -1.24% as a result of price depreciation in AIICO -9.86% and LINKASSURE -9.09%. 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 30,226.77 29,668.73-1.85-4.42-4.42-5.61 NSE Banking Sector Index 397.79 379.52-4.59-6.05-6.05-4.74 NSE Industrial Goods Index 1,204.15 1,150.97-4.42-7.16-7.16-7.02 NSE Consumer Goods Index 650.27 658.09 1.20-7.48-7.48-12.12 NSE Oil & Gas Index 281.50 282.23 0.26-2.85-2.85-6.65 NSE Insurance Index 126.47 124.90-1.24-0.86-0.86-1.25 Source: NSE, MorganCapital Research Investors Sentiment: The Market breadth closed negative at 0.31x Investors sentiment as measured with the market breadth, dipped further to 0.31x from 0.36x recorded yesterday. We however expect the RSI to turn uptrends after a prolonged movement southward. Source: MorganCapitalitrade
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