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InfoWARE Analyst Daily Market Report (26-Mar-2024 15:08:23.674)
(Source: InfoWARE Terminal, Date: 26-Mar-2024)
Dear Investor,
InfoWARE Analyst Daily Market Report - 26-Mar-2024 15:08:23.672

The Nigerian equities market recorded another down day, as the NGX All-Share Index (NGXASI) closed the day down by -0.18%, to bring the Year-to-Date returns up 36.80%. The All Share Index closed at 103,952.47 against the previous close of 104,136.35, volume traded increased by 38.15% from 268.52M to 370.96M, while market turnover (the total value of shares traded) increased by 62.82% from NGN6.86B to NGN11.16B in 8,301.00 deals.
Market breadth (0.95x) signified Thirty-seven (37) advancers, as against Thirty-nine (39) decliners. Volume was up for 74 companies and down for 83


ABBEY BUILDING SOCIETY PLC (ABBEYBDS) topped the advancers list closing at N2.42 with a gain of 10.00% followed by LOTUS HALAL EQUITY ETF (LOTUSHAL15) which closed at N26.22 with a gain of 9.94%.

On the flip side VETIVA S & P NIGERIA SOVEREIGN BOND ETF (VSPBONDETF) and NEWGOLD EXCHANGE TRADED FUND (ETF) (NEWGOLD) topped the decliners log with a loss of -43.18% at a close of N250.00, and -18.03% to close the day at N25,000.00 respectively.

Top Gainers
SymbolLClose%Chg
ABBEYBDS2.4210.00
LOTUSHAL1526.229.94
CONHALLPLC1.449.92
JULI8.639.80
MAYBAKER6.009.69
Top Losers
SymbolLClose%Chg
VSPBONDETF250.00-43.18
NEWGOLD25,000.00-18.03
UPDC1.37-9.87
UCAP21.90-8.75
SOVRENINS0.44-8.33

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


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
ABBEYBDS2.429.092.410.000.002.6924.57B977.62K36.002.36M26-Mar-2024 14:30:08.577
LOTUSHAL1526.229.0425.620.000.001.50K1.0039.33K26-Mar-2024 14:30:39.437
CONHALLPLC1.449.031.422.9715.41B2.61M29.003.70M26-Mar-2024 14:30:08.943
INTENEGINS1.488.781.460.492.853.601.90B739.45K21.001.09M26-Mar-2024 14:30:09.527
CWG6.508.466.130.000.000.4816.41B2.04M40.0012.71M26-Mar-2024 14:30:09.060
STANBICETF30600.008.30568.960.000.00436.0012.00234.57K26-Mar-2024 14:30:39.483


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
FGSUK2033S6100.00-1.00100.460.000.0022.50K3.0022.50M26-Mar-2024 14:30:24.287
MTNN231.00-1.73233.2622,995.280.012.394,701.89B5.25M388.001.21B26-Mar-2024 14:30:39.600
UNIVINSURE0.36-5.560.370.000.000.005.76B4.20M42.001.60M26-Mar-2024 14:30:10.800
AFRIPRUD7.05-5.677.4011.070.617.4614.10B1.05M92.007.51M26-Mar-2024 14:30:08.643
ROYALEX0.71-7.040.750.000.0010.203.65B1.18M27.00841.09K26-Mar-2024 14:30:10.287
FTNCOCOA1.61-8.701.640.000.001.626.28B3.03M57.005.30M26-Mar-2024 14:30:09.320
UPDC1.37-10.951.430.000.0041.3225.43B1.16M33.001.60M26-Mar-2024 14:30:10.820
NEWGOLD25,000.00-22.0027,230.070.000.000.000.005.004.00120.80K26-Mar-2024 14:30:39.463


Economic Indicators - Nigeria FX Reserves Vs ASI Chart

Nigeria FX Reserves are assets held on reserve by CBN in foreign currencies. These reserves are used to back liabilities and influence monetary policy. Given the nature of the Nigeria economy, FX Reserves can appear to have an outsize influence on the economy and hence on the capital market. The chart below allows comparison of FX Reserves against the ASI to make investment decisions

Economic Indicators - Nigeria FX Reserves Vs ASI Chart

For more detailed analysis,



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
GTCOGUARANTY TRUST HOLDING COMPANY PLC67.15M23.32M187.9349.2048.301.866453.27B
NBNIGERIAN BREW. PLC.22.62M5.02M350.6828.0028.000.00171639.03M
ELLAHLAKESELLAH LAKES PLC.8.48M3.34M154.053.383.63-6.8914531.35M
MTNNMTN NIGERIA PLC5.25M2.07M153.11231.00235.00-1.703881.21B
ABBEYBDSABBEY BUILDING SOCIETY PLC977.62K295.33K231.032.422.2010.00362.36M


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,



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
ASI103,952.47-0.18-0.185.2736.8036.808,301
NGX303,856.58-0.22-0.223.5035.8535.855,539
NGXAFRBVI2,155.920.980.9813.474.884.882,208
NGXAFRHDYI10,881.010.000.004.9247.1647.162,292
NGXASEM1,420.965.565.5650.10122.18122.18101
NGXBNK993.500.070.0714.0011.1011.102,278
NGXCG2,486.39-0.38-0.3810.9212.1212.125,273
NGXCNSMRGDS1,611.06-0.12-0.12-1.1343.1643.161,137
NGXGROWTH5,697.540.070.070.10-3.02-3.0210
NGXINDUSTR4,832.29-0.01-0.012.4274.4274.42409
NGXINS395.130.230.236.3021.7021.70480
NGXLOTUSISLM6,314.41-0.06-0.063.0134.9834.981,146
NGXMAINBOARD4,771.480.020.024.7434.3634.365,788
NGXMERIGRW4,699.670.170.178.812.162.161,312
NGXMERIVAL6,020.18-0.05-0.051.7713.9613.962,637
NGXOILGAS1,294.380.000.000.2023.6523.65195
NGXPENBRD1,799.99-0.17-0.173.5735.3135.317,206
NGXPENSION3,849.62-0.18-0.187.3217.3017.305,909
NGXPREMIUM10,190.38-0.47-0.476.0940.6540.652,503
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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