Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... INTBREW 10.00  THOMASWY 9.95  CHAMS 9.86  CHAMPION 9.83  JOHNHOLT 9.66  MCNICHOLS 9.52  ACADEMY 9.29  VERITASKAP 8.99  LASACO 6.93  CORNERST 6.50  VSPBONDETF -49.12  MERGROWTH -10.00  MERVALUE -10.00  MULTIVERSE -9.68  VETGOODS -8.00  RTBRISCOE -7.46  SUNUASSUR -6.25  NEM -5.95  FIDELITYBK -4.81  INTENEGINS -3.80 
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InfoWARE Analyst Daily Market Report (21-May-2024 15:07:52.252)
(Source: InfoWARE Terminal, Date: 21-May-2024)
Dear Investor,
InfoWARE Analyst Daily Market Report - 21-May-2024 15:07:52.251

The Nigerian equities market recorded another up day, as the NGX All-Share Index (NGXASI) closed the day up by 0.11%, to bring the Year-to-Date returns up 29.34%. The All Share Index closed at 98,285.33 against the previous close of 98,176.58, volume traded decreased by -45.29% from 405.37M to 221.77M, while market turnover (the total value of shares traded) decreased by -23.02% from NGN6.67B to NGN5.13B in 7,124.00 deals.
Market breadth (1.54x) signified Thirty-seven (37) advancers, as against Twenty-four (24) decliners. Volume was up for 62 companies and down for 96


BERGER PAINTS PLC (BERGER) topped the advancers list closing at N14.90 with a gain of 9.96% followed by GREENWICH ASSET ETF (GREENWETF) which closed at N712.00 with a gain of 9.87%.

On the flip side MERISTEM GROWTH EXCHANGE TRADED FUND (MERGROWTH) and INTERNATIONAL ENERGY INSURANCE COMPANY PLC (INTENEGINS) topped the decliners log with a loss of -10.00% at a close of N226.80, and -9.70% to close the day at N1.49 respectively.

Top Gainers
SymbolLClose%Chg
BERGER14.909.96
GREENWETF712.009.87
NESTLE900.009.76
SOVRENINS0.408.11
ROYALEX0.607.14
Top Losers
SymbolLClose%Chg
MERGROWTH226.80-10.00
INTENEGINS1.49-9.70
DEAPCAP0.44-8.33
UPDC1.20-7.69
WAPIC0.64-7.25

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
ROYALEX0.606.670.590.000.0010.203.09B364.96K26.00214.32K21-May-2024 14:31:00.480
REGALINS0.365.560.353.310.118.572.40B5.10M12.001.82M21-May-2024 14:31:00.220
FIDELITYBK8.903.378.858.031.172.66257.88B4.10M201.0036.09M21-May-2024 14:30:55.357
ASI98,285.330.1198,235.8311.84457.690.000.00221.77M7,124.005.13B21-May-2024 14:31:14.450
NGX303,638.720.083,637.01575.61329.080.000.00145.91M4,656.004.82B21-May-2024 14:31:14.480
NGXINDUSTR4,691.820.004,691.4539.9018.970.000.007.68M305.00244.16M21-May-2024 14:31:15.403
UPL2.150.002.133.970.594.29927.53M31.08K12.0069.62K21-May-2024 14:31:03.247


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
PRESCO267.200.00269.4571.652.653.58267.20B38.63K32.009.69M21-May-2024 14:30:59.517


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
WAPCOLAFARGE WAPCO PLC.6.47M2.30M180.9033.5033.500.0092216.86M
REGALINSREGENCY ALLIANCE INSURANCE COMPANY PLC5.10M1.56M225.730.360.345.88121.82M
DEAPCAPDEAP CAPITAL MANAGEMENT & TRUST PLC1.21M553.13K119.410.440.48-8.3323558.49K
BERGERBERGER PAINTS PLC853.21K135.30K530.6214.9013.559.962912.71M
SKYAVNSKYWAY AVIATION HANDLING COMPANY PLC608.76K14.87K3,994.7422.9522.950.004112.67M


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
ASI98,285.330.110.11-0.48-5.9629.347,124
NGX303,638.720.080.08-0.54-6.1728.174,656
NGXAFRBVI1,727.210.440.44-0.22-24.49-15.982,232
NGXAFRHDYI10,631.920.140.142.09-3.4243.791,860
NGXASEM1,504.550.000.000.000.00135.252
NGXBNK780.850.160.16-2.29-24.11-12.682,462
NGXCG2,067.130.510.51-1.06-19.03-6.784,491
NGXCNSMRGDS1,539.790.790.79-0.96-4.3936.83908
NGXGROWTH5,602.000.07-0.91-1.55-1.75-4.65106
NGXINDUSTR4,691.820.000.000.10-2.9769.35305
NGXINS364.63-0.38-0.38-4.58-11.3912.30491
NGXLOTUSISLM6,207.590.020.020.69-1.8432.70989
NGXMAINBOARD4,605.150.130.13-0.76-3.7729.684,395
NGXMERIGRW4,145.500.240.24-4.17-16.19-9.891,096
NGXMERIVAL5,831.62-0.02-0.02-0.93-4.9310.392,601
NGXOILGAS1,177.920.000.00-7.97-9.0012.52218
NGXPENBRD1,732.810.120.12-0.25-4.3830.266,252
NGXPENSION3,506.360.160.16-0.98-10.676.845,043
NGXPREMIUM9,692.510.090.090.32-5.8733.782,623
NGXSOVBND766.670.000.001.304.910.910

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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