FeaturedMarket Update

Nigerian Equities Market Maintained Gains, Despite Few Gainers

Consolidating positive moves, despite few gainers, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 11Bpt to its trading points, and closed at 39,490.06 from 39,448.46. It was a mixed performance amongst the observed market indices in this report. Thus, WtD, the lead index is 175Bpts above opening, while the total gained points in the month of August is now 245Bpts. See the index movement table for details.

Fundamental View

Unlike other days of the week, when the market got a major boost from Airtel, today’s gain was achieved by few gainers, while the losers’ log expanded, although MTNN features amongst the gainers with 0.67% gain and NSE-30, the sub-index showing movements in the highly Cap stocks gained 7Bpts. In our opinion, the possibility of the market closing down on the next trading day is high.

Meanwhile, as noted in our previous reports, we expect the market to be a little silent within this week, as major market movers in the name of half year incentives and policies (MPC & Headline Inflation) are not expected within the week. We also noted that, most expected earnings had already been released, safe those with Half year interim dividends and very few others. We therefore advise against panic selling and recommend that traders take full advantage of dropping prices.

Technical View

Technically the candlestick representing today’s trading activities on NGXASI is a DOJI,  usually Doji is one of the reversal pattern, indicating possibility of the leading trend to reverse. Usually it is read as weakness of the ruling trend, and in the case of NGXASI, it implies the weakness of the short term uptrend that started three (3) days prior. Please understand that, a Doji usually requires a confirmation. Thus, we recommend that traders watch market mood on the next trading day, before trading in the direction of the Doji. On the strength of the above stated facts, we recommend that traders should maintain cautiousness around the market arena, as profit taking activities may lead the market for the better part of tomorrow’s trading day.

Just as MFI is about responding to the gains, traders showed signs of profit taking. Please understand that, MFI is a momentum indicator that works with both price and volume, and until volume outrun the previous day’s performance, the indicator may not respond to gains. Please note that, today’s trade comes with increased losers which generated higher volume that what was seen in the past two positive days, hence, the indicator turned up, confirming movement of funds into the market. Also, MACD is trending at very close gaps, although it recently attempted to open up a bit. RSI Cross Over is already initiated a Buy position, as RSI-5 today crossed RSI-15 up from the downside position.

Index Movements

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N21.673 billion, same as 11Bpts above the opening value. Meanwhile, trading activities for the day produced 08 ADVANCERS and 24 LAGERS. NGXASI Year to Date loss is now 194Bpts while the Market Capitalization Year to Date loss stood at N481.865 million same as 229Bpts below the year’s opening value.

Top Gainers & Losers

Leading on the advancers’ log is HoneyFlour with 10.00% gain over its previous close price, thus it rounded up at N1.87 from N1.70. Wema Bank followed with 3.95% gain, to round up trade at N0.79 from N0.76. Flour Mills, AIICO and GTCO completed the top 5 price percentage gainers log with 3.10%, 2.11% and 1.07% respectively.

On the flip side SFREIT led with 9.99% price depreciation as it rounded up trade at N61.75 from N68.60. Trpple Gee followed with 9.28% loss, thus it closed at N0.88 from N0.97. Regalins, Prestige and JapaulGold completed the top 5 price percentage losers’ log with 8.51%, 8.33% and 7.84% respectively.

Top Performers for the Day

Top 5 Trades

Investors did a total of 256 deals on the shares of Zenith Bank, while a total of 207 transactions were made on GTCO shares through today’s trading session. Sterling Bank was next on the top 5 list with 165 transactions, while UBA and Dangote Sugar completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 384.07 million units of Honeywell Flour through the day’s trade. Vitafoam followed on the most traded by volume with 21.36 million shares. FCMB, Japaul Gold, and Sterling Bank completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on Honeywell Flour (N654.15 Million) was the highest for the day, followed by Vitafoam where investors exchange N331.21 million worth of shares. Zenith Bank, Dangcem and MTNN completed the list as shown in the above table.

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the green by gaining 0.04% to close the day’s trade at 745.88, while the market Capitalisation equally rounded up in the positive territory as it added 0.04%  and close at 648.30 billion. Today’s performance produced two (2) advancers, and one (1) decliner. Kindly view today’s price list Here.

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 70.85$/bbl, this is 65Bpts below the last close price.

FMDQ-OTC BRIEF

The I&E FX Window opened at N411.83 traded as high as N412.50 before rounding up at N411.67, having transacted a total of $150.99 million through the day. Please note that, margin between the close and open value is 6Bpts up. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-Rates.

In the money market, the Overnight (O/N) rate closed at 17.33%, same as 0.17% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 16.67% that is 0.33% below the previous close. Safe Trade.

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FeaturedMarket Update

Nigerian Equities Market Maintained Gains, Despite Few Gainers

Consolidating positive moves, despite few gainers, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 11Bpt to its trading points, and closed at 39,490.06 from 39,448.46. It was a mixed performance amongst the observed market indices in this report. Thus, WtD, the lead index is 175Bpts above opening, while the total gained points in the month of August is now 245Bpts. See the index movement table for details.

Fundamental View

Unlike other days of the week, when the market got a major boost from Airtel, today’s gain was achieved by few gainers, while the losers’ log expanded, although MTNN features amongst the gainers with 0.67% gain and NSE-30, the sub-index showing movements in the highly Cap stocks gained 7Bpts. In our opinion, the possibility of the market closing down on the next trading day is high.

Meanwhile, as noted in our previous reports, we expect the market to be a little silent within this week, as major market movers in the name of half year incentives and policies (MPC & Headline Inflation) are not expected within the week. We also noted that, most expected earnings had already been released, safe those with Half year interim dividends and very few others. We therefore advise against panic selling and recommend that traders take full advantage of dropping prices.

Technical View

Technically the candlestick representing today’s trading activities on NGXASI is a DOJI,  usually Doji is one of the reversal pattern, indicating possibility of the leading trend to reverse. Usually it is read as weakness of the ruling trend, and in the case of NGXASI, it implies the weakness of the short term uptrend that started three (3) days prior. Please understand that, a Doji usually requires a confirmation. Thus, we recommend that traders watch market mood on the next trading day, before trading in the direction of the Doji. On the strength of the above stated facts, we recommend that traders should maintain cautiousness around the market arena, as profit taking activities may lead the market for the better part of tomorrow’s trading day.

Just as MFI is about responding to the gains, traders showed signs of profit taking. Please understand that, MFI is a momentum indicator that works with both price and volume, and until volume outrun the previous day’s performance, the indicator may not respond to gains. Please note that, today’s trade comes with increased losers which generated higher volume that what was seen in the past two positive days, hence, the indicator turned up, confirming movement of funds into the market. Also, MACD is trending at very close gaps, although it recently attempted to open up a bit. RSI Cross Over is already initiated a Buy position, as RSI-5 today crossed RSI-15 up from the downside position.

Index Movements

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N21.673 billion, same as 11Bpts above the opening value. Meanwhile, trading activities for the day produced 08 ADVANCERS and 24 LAGERS. NGXASI Year to Date loss is now 194Bpts while the Market Capitalization Year to Date loss stood at N481.865 million same as 229Bpts below the year’s opening value.

Top Gainers & Losers

Leading on the advancers’ log is HoneyFlour with 10.00% gain over its previous close price, thus it rounded up at N1.87 from N1.70. Wema Bank followed with 3.95% gain, to round up trade at N0.79 from N0.76. Flour Mills, AIICO and GTCO completed the top 5 price percentage gainers log with 3.10%, 2.11% and 1.07% respectively.

On the flip side SFREIT led with 9.99% price depreciation as it rounded up trade at N61.75 from N68.60. Trpple Gee followed with 9.28% loss, thus it closed at N0.88 from N0.97. Regalins, Prestige and JapaulGold completed the top 5 price percentage losers’ log with 8.51%, 8.33% and 7.84% respectively.

Top Performers for the Day

Top 5 Trades

Investors did a total of 256 deals on the shares of Zenith Bank, while a total of 207 transactions were made on GTCO shares through today’s trading session. Sterling Bank was next on the top 5 list with 165 transactions, while UBA and Dangote Sugar completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 384.07 million units of Honeywell Flour through the day’s trade. Vitafoam followed on the most traded by volume with 21.36 million shares. FCMB, Japaul Gold, and Sterling Bank completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on Honeywell Flour (N654.15 Million) was the highest for the day, followed by Vitafoam where investors exchange N331.21 million worth of shares. Zenith Bank, Dangcem and MTNN completed the list as shown in the above table.

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the green by gaining 0.04% to close the day’s trade at 745.88, while the market Capitalisation equally rounded up in the positive territory as it added 0.04%  and close at 648.30 billion. Today’s performance produced two (2) advancers, and one (1) decliner. Kindly view today’s price list Here.

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 70.85$/bbl, this is 65Bpts below the last close price.

FMDQ-OTC BRIEF

The I&E FX Window opened at N411.83 traded as high as N412.50 before rounding up at N411.67, having transacted a total of $150.99 million through the day. Please note that, margin between the close and open value is 6Bpts up. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-Rates.

In the money market, the Overnight (O/N) rate closed at 17.33%, same as 0.17% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 16.67% that is 0.33% below the previous close. Safe Trade.

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