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InfoWARE Analyst Daily Market Report (08-Feb-2024 15:26:46.829)
(Source: InfoWARE Terminal, Date: 08-Feb-2024)
Dear Investor,
InfoWARE Analyst Daily Market Report - 08-Feb-2024 15:26:46.828

The Nigerian equities market recorded another down day, as the NGX All-Share Index (NGXASI) closed the day down by -0.86%, to bring the Year-to-Date returns up 33.21%. The All Share Index closed at 101,227.67 against the previous close of 102,106.31, volume traded increased by 75.33% from 272.31M to 477.44M, while market turnover (the total value of shares traded) increased by 43.66% from NGN4.99B to NGN7.17B in 10,903.00 deals.
Market breadth (0.11x) signified Nine (9) advancers, as against Eighty-one (81) decliners. Volume was up for 99 companies and down for 62


MEYER PLC. (MEYER) topped the advancers list closing at N6.29 with a gain of 9.97% followed by JULI PLC. (JULI) which closed at N0.92 with a gain of 9.52%.

On the flip side MERISTEM GROWTH EXCHANGE TRADED FUND (MERGROWTH) and NEWGOLD EXCHANGE TRADED FUND (ETF) (NEWGOLD) topped the decliners log with a loss of -29.87% at a close of N490.90, and -17.25% to close the day at N21,101.11 respectively.

Top Gainers
SymbolLClose%Chg
MEYER6.299.97
JULI0.929.52
TANTALIZER0.444.76
REDSTAREX3.854.05
LASACO2.633.54
Top Losers
SymbolLClose%Chg
MERGROWTH490.90-29.87
NEWGOLD21,101.11-17.25
STERLINGNG5.31-10.00
NASCON58.50-10.00
CONHALLPLC1.44-10.00

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
REDSTAREX3.853.903.844.400.746.123.67B2.35M18.008.77M08-Feb-2024 14:30:12.187
FGSUK2024S1109.950.00109.920.000.000.000.000.0008-Feb-2024 14:30:22.280
NB38.950.0038.9023.571.602.73400.26B952.19K120.0035.33M08-Feb-2024 14:30:10.910


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
NGXPENBRD1,780.25-0.821,781.23348.78389.180.000.00352.72M9,371.006.84B08-Feb-2024 14:30:23.267
NGX303,809.07-0.833,813.53575.61329.080.000.00240.27M6,901.005.97B08-Feb-2024 14:30:22.997
ASI101,227.67-0.87101,354.0511.84457.690.000.00477.44M10,903.007.17B08-Feb-2024 14:30:36.367
NGXMAINBOARD4,346.77-1.154,385.2212.90225.050.000.00371.13M7,703.004.13B08-Feb-2024 14:30:23.140
NGXLOTUSISLM6,298.74-1.356,344.451,270.9362.770.000.0022.20M1,314.00539.56M08-Feb-2024 14:30:23.127
FG162029S199.00-1.6599.420.0066.07B2.90K1.002.87M08-Feb-2024 14:30:20.427
UNILEVER19.00-5.2619.9734.740.401.81109.16B1.83M94.0034.54M08-Feb-2024 14:30:13.033
NEIMETH1.98-9.092.0195.200.024.468.46B833.84K24.001.67M08-Feb-2024 14:30:10.973
AFRIPRUD8.00-9.388.3111.070.617.4616.00B1.01M71.008.12M08-Feb-2024 14:30:08.080
OANDO12.40-9.6812.783.812.537.25154.15B11.21M187.00138.58M08-Feb-2024 14:30:33.243
ROYALEX0.71-9.860.760.000.0010.203.65B1.53M29.001.09M08-Feb-2024 14:30:12.253
VETGRIF3038.00-10.0038.340.000.0018.73K15.00790.82K08-Feb-2024 14:30:33.733
PRESTIGE0.56-10.710.605.380.083.667.42B3.91M15.002.21M08-Feb-2024 14:30:12.120
MAYBAKER6.40-10.947.0136.840.146.0011.04B725.63K40.004.72M08-Feb-2024 14:30:10.617
PZ30.90-11.0033.6444.170.504.59122.69B1.45M50.0044.97M08-Feb-2024 14:30:12.167


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
DANGSUGARDANGOTE SUGAR REFINERY PLC8.73M3.04M187.0569.0075.50-8.61463596.10M
NASCONNATIONAL SALT CO. NIG. PLC6.51M3.02M115.8758.5065.00-10.00242383.89M
REDSTAREXRED STAR EXPRESS PLC2.35M356.67K558.813.853.704.05188.77M
MEYERMEYER PLC.192.00K80.76K137.756.295.729.9781.21M
JULIJULI PLC.100.00K26.55K276.710.920.849.52192.00K


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
ASI101,227.67-0.86-2.35-1.5333.2133.2110,903
NGX303,809.07-0.82-2.31-1.5434.1734.176,901
NGXAFRBVI1,982.40-2.49-6.28-5.38-3.57-3.572,747
NGXAFRHDYI11,788.89-0.37-0.97-0.9959.4459.442,881
NGXASEM671.621.173.294.225.015.011
NGXBNK896.67-2.33-5.92-4.070.280.283,460
NGXCG2,403.98-1.46-3.83-2.328.418.416,111
NGXCNSMRGDS1,467.70-1.90-0.820.8730.4230.421,613
NGXGROWTH6,140.89-0.08-0.39-0.034.524.5235
NGXINDUSTR5,429.72-0.30-4.18-4.0395.9995.99455
NGXINS400.71-4.19-6.550.2023.4223.42785
NGXLOTUSISLM6,298.74-1.34-2.10-2.1734.6434.641,314
NGXMAINBOARD4,346.77-1.13-3.19-2.1522.4022.407,703
NGXMERIGRW4,584.27-3.89-7.80-6.35-0.35-0.352,192
NGXMERIVAL6,221.33-2.22-3.210.2117.7717.773,823
NGXOILGAS1,245.49-0.49-0.49-0.4818.9818.98208
NGXPENBRD1,780.25-0.81-2.28-1.5333.8333.839,371
NGXPENSION3,719.98-1.58-3.69-2.3713.3513.357,590
NGXPREMIUM10,828.11-0.53-1.30-0.7749.4649.463,165
NGXSOVBND742.21-0.13-0.160.58-2.31-2.311

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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