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InfoWARE Analyst Daily Market Report (25-Mar-2024 15:07:43.842)
(Source: InfoWARE Terminal, Date: 25-Mar-2024)
Dear Investor,
InfoWARE Analyst Daily Market Report - 25-Mar-2024 15:07:43.840

The Nigerian equities market recorded another down day, as the NGX All-Share Index (NGXASI) closed the day down by -0.49%, to bring the Year-to-Date returns up 37.04%. The All Share Index closed at 104,136.35 against the previous close of 104,647.37, volume traded decreased by -46.53% from 502.14M to 268.52M, while market turnover (the total value of shares traded) decreased by -50.85% from NGN13.95B to NGN6.86B in 8,913.00 deals.
Market breadth (0.67x) signified Thirty-one (31) advancers, as against Forty-six (46) decliners. Volume was up for 74 companies and down for 86


ELLAH LAKES PLC. (ELLAHLAKES) topped the advancers list closing at N3.63 with a gain of 10.00% followed by STANBIC IBTC ETF 30 (STANBICETF30) which closed at N550.20 with a gain of 10.00%.

On the flip side DANGOTE SUGAR REFINERY PLC (DANGSUGAR) and INTERNATIONAL ENERGY INSURANCE COMPANY PLC (INTENEGINS) topped the decliners log with a loss of -10.00% at a close of N53.10, and -10.00% to close the day at N1.35 respectively.

Top Gainers
SymbolLClose%Chg
ELLAHLAKES3.6310.00
STANBICETF30550.2010.00
MORISON1.559.93
SUNUASSUR1.279.48
CAVERTON1.759.38
Top Losers
SymbolLClose%Chg
DANGSUGAR53.10-10.00
INTENEGINS1.35-10.00
JAIZBANK2.18-9.92
Ikejahotel5.85-9.72
DEAPCAP0.57-9.52

For more detailed analysis,

  • On InfoWARE Market Data Terminal <TOPG> <GO>
  • On InfoWARE Finance Mobile App ( Android, iPhone & iPad and Windows 10) , "Top Gainers & Losers"


Currency Market
In the currency market, the Naira fell 1.20%(-9.54) sharply against the Dollar to settle at 803.42 to 1


Investment Insights - Top 5 Gainers YTD

These stocks are the best performers whose price has risen faster than the market as a whole with the best returns year to date. Momentum investors believe that stocks that have outperformed the market will often continue to do so because the factors that caused them to outperform will not suddenly disappear. In addition, other investors seeking to benefit from the stock’s outperformance will often purchase the stock, further bidding its price higher and pushing the stock higher still

NGX Top 5 Gainers YTD

For more detailed analysis,



NSE: Bull Signal - Price crossed above 15 Day MA

This signal implies these stocks are under buying pressure and the price might continue to rise and therefore positions should be monitored closely. Further suggested analysis include looking at the overall market (ASI) to see if the uptrend is market wide, sector wide or specific to the stock. Portfolio managers tend to use this as a signal to do more research to add to their positions or lock in some profits. Typically further analysis should be done using commands like PC and RV on the InfoWARE Market Data Terminal. Another command is ALERTS to set price triggers for possible exit or entry as necessary

For more detailed analysis,

  • On InfoWARE Market Data Terminal <NSEPERF> <GO>
  • On InfoWARE Finance Mobile App ( Android , iPhone & iPad and Windows 10) , "Top Gainers & Losers"
SymbolPrice%Chg15DMAPEEPSDivYMktCapVolTradesValueLstTradeTime
MORISON1.559.031.450.000.001.181.53B132.09K1.00204.74K25-Mar-2024 14:30:13.053
CAVERTON1.758.571.630.971.576.585.86B2.20M40.003.73M25-Mar-2024 14:30:11.540
NSLTECH0.608.330.590.000.0035.713.38B2.28M40.001.37M25-Mar-2024 14:30:13.720
TANTALIZER0.407.500.380.000.005.261.28B1.50M39.00593.50K25-Mar-2024 14:30:17.040
ROYALEX0.766.580.750.000.0010.203.91B1.07M23.00784.42K25-Mar-2024 14:30:14.267
UPDC1.526.581.440.000.0041.3228.21B1.68M36.002.48M25-Mar-2024 14:30:17.490
VERITASKAP0.705.710.6710.970.0218.529.71B2.28M34.001.56M25-Mar-2024 14:30:17.587
UNIVINSURE0.385.260.370.000.000.006.08B5.63M35.002.13M25-Mar-2024 14:30:17.470
FGSUK2025S2100.000.0099.910.000.0010.00K1.0010.00M25-Mar-2024 14:30:20.623


NSE: BEAR Signal - Price crossed below 15 Day MA

This signal implies these stocks are under selling pressure and the price might continue to slide and therefore positions should be monitored closely. Further suggested analysis include looking at the overall market (ASI) to see if the downtrend is market wide, sector wide or specific to the stock. If the overal market trend is upwards, then since these stocks are heading in the opposite direction, then further analysis should be done using commands like PC and RV on the InfoWARE Market Data Terminal. Another command is ALERTS to set price triggers for possible exit is necessar

For more detailed analysis,

SymbolPrice%Chg15DMAPEEPSDivYMktCapVolTradesValueLstTradeTime
NGXGROWTH5,693.42-0.325,708.7318.830.180.000.002.13M37.004.38M25-Mar-2024 14:30:21.180
NGXCNSMRGDS1,613.01-0.841,618.0930.1955.240.000.0026.67M1,410.00795.29M25-Mar-2024 14:30:21.167
CORNERST2.05-2.442.064.100.354.1737.24B695.87K15.001.42M25-Mar-2024 14:30:11.717
TIP2.15-10.232.250.001.91B1.91M28.004.11M25-Mar-2024 14:30:32.163
DANGSUGAR53.10-11.1156.7420.323.062.41645.00B3.07M328.00163.38M25-Mar-2024 14:30:11.863
INTENEGINS1.35-11.111.460.492.853.601.73B547.23K22.00751.16K25-Mar-2024 14:30:12.640


Market Trend - ASI (NGX All-Share-Index) With 50 & 200 Day MAvgs Chart

Technical traders typically use the 50 & 200 day moving averages to aid in choosing where to enter or exit a position, which then causes these levels to act as strong support or resistance. As a general guideline, if the price is above a moving average, the trend is up. If the price is below a moving average, the trend is down.
It is important to note that critics of technical analysis say that moving averages act as support and resistance because so many traders use these indicators to inform their trading decisions. Also moving averages tend to work quite well in strong trending conditions but poorly in choppy or ranging conditions.
Trading Strategies: Crossovers
Crossovers are one of the main moving average strategies. The first type is a price crossover, which is when the price crosses above or below a moving average to signal a potential change in trend. Another strategy is to apply two moving averages to a chart: one longer and one shorter. When the shorter-term MA crosses above the longer-term MA, it is a buy signal, as it indicates that the trend is shifting up. This is known as a golden cross. Meanwhile, when the shorter-term MA crosses below the longer-term MA, it is a sell signal, as it indicates that the trend is shifting down. This is known as a dead/death cross

ASI (NGX All-Share-Index) With 50 & 200 Day MAvgs

For more detailed analysis,



Unusual Volume: Volume traded is more than double the 90 day moving average (All exchanges; ASI & ASem). For more detailed analysis,

SymbolNameVolume90DAvgVol%VolChgPriceLClose%ChgTradesValue
NBNIGERIAN BREW. PLC.17.43M4.82M261.7328.0028.000.00359489.18M
MTNNMTN NIGERIA PLC11.06M1.93M473.73235.00235.000.004862.61B
LINKASSURELINKAGE ASSURANCE PLC6.52M712.70K814.310.860.860.0095.60M
NEMN.E.M INSURANCE CO (NIG) PLC.2.69M786.93K242.049.709.650.5211626.73M
NSLTECHSECURE ELECTRONIC TECHNOLOGY PLC2.28M792.93K187.140.600.559.09401.37M


Investment Insights - High Div. Stocks

Dividend stocks distribute a portion of the company earnings to investors on a regular basis and they can a great choice for investors looking for regular income. As an investment or trading strategy, high dividend yield equities provide annual cash payments as against mostly capital gains in the price of a stock. The list in the table below represent the highest dividend paying stocks from the list of the most liquid stocks in the NSE top 30.

Top 10 high dividend yield stocks

For more detailed analysis,



Investment Insights - Stocks outperforming the ASI but with approximately the same risk

These list of stocks represent equities that are less risky than the ASI but doing better than the ASI (All Shares Index) using the YTD (Year to Date) returns as the measure. The risk is measured by Beta. Beta is an assessment of a stock's tendency to undergo price changes, (its volatility), as well as its potential returns compared to the ASI. It is expressed as a ratio, where a score of 1 represents performance comparable to the ASI, and returns above or below the market may receive scores greater or lower than 1.


For a full list of both positively and negatively corelated stocks visit InfoWARE Market Data Terminal

SymbolDivYieldPEEPSBeta%ChgYTDASIYTDReturnBetaDiff
UNIVINSURE0.000.000.000.7646.1537.040.24
NEM5.2615.480.370.6967.2437.040.31
VERITASKAP18.5210.970.020.6394.4437.040.37
NEWGOLD0.000.000.00-0.57105.3937.040.43
BUACEMENT2.670.000.000.5640.3937.040.44
VETINDETF0.000.4782.2637.040.53
JBERGER7.183.3810.31-0.4139.8837.040.59
SEPLAT1.159.31212.700.3345.8937.040.67
BUAFOODS2.220.000.000.3296.4337.040.68
VETGOODS0.000.2643.2337.040.74


African Markets
NameLCloseChange%Chg
BRVM Stock Exchange208.590.400.19
Botswana Stock Exchange8,741.6528.750.33
Egyptian Exchange20,002.10347.881.77
Ghana Stock Exchange3,141.18-0.63-0.02
Johannesburg Stock Exchange73,849.537.380.01
Lusaka Stock Exchange9,523.07108.271.15
Casablanca Stock Exchange12,278.5653.790.44
Malawi Stock Exchange115,209.51-80.70-0.07
Nigeria Stock Exchange67,100.49113.880.17
Nairobi Securities Exchange93.00-0.60-0.64
Namibian Stock Exchange1,593.55-4.96-0.31
Rwanda Stock Exchange143.69-0.07-0.05
Tunis Stock Exchange8,458.97-14.40-0.17
Uganda Securities Exchange923.89-1.30-0.14
Nigeria Market Indexes
SymbolLClose%ChgWTD%MTD%QTD%YTD%MktCapTrades
ASI104,136.35-0.490.005.4537.0437.048,913
NGX303,864.94-0.570.003.7236.1436.145,766
NGXAFRBVI2,134.98-1.260.0012.373.863.861,867
NGXAFRHDYI10,881.51-0.230.004.9247.1747.171,957
NGXASEM1,346.130.000.0042.20110.48110.48114
NGXBNK992.84-1.720.0013.9211.0311.032,400
NGXCG2,495.87-1.040.0011.3412.5512.555,507
NGXCNSMRGDS1,613.01-0.830.00-1.0143.3443.341,410
NGXGROWTH5,693.42-0.320.000.03-3.09-3.0937
NGXINDUSTR4,832.800.040.002.4374.4474.44452
NGXINS394.220.210.006.0621.4221.42591
NGXLOTUSISLM6,317.97-0.240.003.0735.0635.061,470
NGXMAINBOARD4,770.67-0.600.004.7234.3434.346,335
NGXMERIGRW4,691.66-1.770.008.631.991.991,671
NGXMERIVAL6,023.220.470.001.8214.0214.022,646
NGXOILGAS1,294.380.000.000.2023.6523.65150
NGXPENBRD1,803.06-0.460.003.7535.5435.547,676
NGXPENSION3,856.43-1.240.007.5117.5117.516,213
NGXPREMIUM10,238.23-0.320.006.5941.3241.322,541
NGXSOVBND730.800.000.00-3.48-3.81-3.810

For more detailed analysis,

  • On InfoWARE Market Data Terminal <MKTINS> <GO>
  • On InfoWARE Finance Mobile App ( Android, iPhone & iPad and Windows 10) , "Market Indexes"

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