August 22, 2019/InvestmentOne Report
Please click to download the Market Report for Thursday 22nd August 2019
EQUITY:
- The Nigerian equities market gained further today as NSE-ASI rose by 1.01% to close at 27,629.66pts.
- Similarly, in today’s trade, market breadth index was positive with 22 gainers against 13 losers.
- Today’s performance was mainly due to thegains recorded in ETERNA (+10.00%), ETI (+9.49%), WAPIC (+8.82%), JAIZBANK (+5.41%) and HONYFLOUR (+4.90%) which offset the losses in UPL (-10.00%), NCR (-10.00%),MRS (-9.83%),OKOMUOIL (-9.78%) and FCMB (-5.88%).
- Sector performances were broadly positive today with Banking (+2.54%) emerging the top gainer followed by Consumer Goods (+0.81%) and Industrial (+0.70%) which also closed positive. However, Oil & Gas (-0.31%) closed in the red.
- In terms of activity levels, while total volume declined by 25%, total value was flat compared to yesterday, as investors exchanged over 272million units of shares worth over N4.50billion. ZENITHBANK (+2.86%) was the most actively traded stock with about 54million units of shares worth about N978million.
- The equities market closed up today following the gains recorded in most sectors. We maintain that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.
CURRENCY:
· At the IEFX window, the Naira lost 1.02% and 0.07% against the GBP and USD to close at N443.55 and N363.01 respectively while EUR closed flat at N401.28.
· At the Parallel market, while the Naira closed flat at N360, it lost 0.23% against the GBP to close at N444. However, it gained 0.25% against the EUR to close at N397.
· Going forward, we expect the FX market to continue to see support from CBN’s intervention sales.
FIXED INCOME:
· Money market rates moved in different directions today. While Open Buy Back rate increased by 78bps to close at 23.64%, Overnight rate shed 50bps to close at 24.86%.
· The bond market was mixed today with yields moving in different directions. While the yields on the 5yr and 7yr benchmark bonds closed flat at 14.33% and 14.10% respectively, the yield on the 10yr benchmark bond shed 4bps to close at 14.30%.
· In the near term, we expect market activity to be influenced by liquidity levels and foreign investor participation.
Below are key NSE statistics as at the end of trades:
Current | 27,629.00 | Mkt Cap (N’tr) | 13.44 | |
Previous | 27,352.94 | Vol. Traded (m) | 273 | |
Day Change | 1.01% | Vol. Day Chng. | -25% | |
WTD Return | 2.61% | Val. Traded (N’bn) | 4.50 | |
MTD Return | -0.32% | Val. Day Chng. | 0% | |
YTD Return | -12.09% | No. of Deals | 3,425 | |
YTD High | 32,715.20 | No. of Gainers | 22 | |
YTD Low | 26,925.29 | No. of Losers | 13 | |
52wk High | 35,516.21 | Top Sub Sect. (by Vol.) | BNK (57%) | |
52wk Low | 26,925.29 | Top Sub Sect. (by Val.) | BNK (53%) |
