NSE All Share Index

NSE All Share Index closed up by 0.25% to 37952.7 on 23 January 2021 and +-1.88% on a weekly basis. NSE All Share Index momentum was last calculated at +100.0/100 indicating positive momentum. NSE All Share Index trend is +100.0/100 indicating a positive trend. NSE All Share Index momentum exhaustion is 2.61206 indicating NSE All Share Index is overbought.NSE All Share Index RSI is 88.9837 .

NSE All Share Index Chart

NSE All Share Index

NSE All Share Index Statistics

SecuritySymbolLastMomentumTrendOscillatorRSI1D%1W%1M%1Y%
NSE All Share IndexALLSHARE37952.7112.6120688.98370.25-1.88-2.720.41038

NSE All Share Index closed at 37952.7 on 23 January 2021. NSE All Share Index trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. NSE All Share Index momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. NSE All Share Index momentum exhaustion is 2.61206 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating NSE All Share Index is overbought and a possible reversal is imminent. NSE All Share Index RSI was last calculated at 88.9837. NSE All Share Index moving averages were last recorded as follows: 1-month moving average: 36738.9 in an uptrend , 1-quarter moving average: 33270.3 in an uptrend and 1-year moving average: 27429.6 in an uptrend. NSE All Share Index annual return was last recorded at None%, daily return was last recorded at 0.25%, and weekly return was last recorded at -1.88%. NSE All Share Index histrorical 20-day volatility was last recorded at 16.3752%, NSE All Share Index alpha None, NSE All Share Index beta None and NSE All Share Index maximum drawdown was recorded at None%. MacroVar models monitor NSE All Share Index statistics based on historical data since 1970.

NSE All Share Index News

NSE All Share Index Factors

NSE All Share Index

FactorSymbolLast ValuePredicted ValueR2MacroVar Signal
Nigeria PMI vs StocksNG.FACT.STPMI35147.646.22822.62386

NSE All Share Index related Indicators

NSE All Share Index

SecurityTypeSymbolLastMomentumTrendOscillatorRSI1D%1W%1M%1Y%
Nigeria ETFStock Index ETFNGE11.19-0.50.250.5092246.5088-6.75-10.19-8.8-0.18826
Nigeria PMI vs StocksStock Index vs PMI FactorNG.FACT.STPMI35147.6

Nigeria Markets


MarketSymbolLastMomTrendExhRSI1D%1W%1M%1Y%
NSE All Share IndexALLSHARE37952.7112.6120688.98370.25-1.88-2.720.41038
Nigeria ETFNGE11.19-0.50.250.5092246.5088-6.75-10.19-8.8-0.18826
Nigerian Naira US Dollar (NGN/USD)NGNUSD 411-0.50.50.0268651.89160080.03733
Nigeria 10-year bond yieldNG.10Y12.610.50-0.7744789.71511.291.113.64-0.36435
Nigeria 2-Year Bond YieldNG.2Y10.990.5-0.25-1.1073360.23253.27-2.1575.7-0.83453
Nigeria Yield CurveNG.YC1.6200.750.743960.2399-10.4-15.4-69.16-77.2763

Nigeria Economic Indicators


IndicatorActualPreviousM/M%Y/Y%TrendSlopeZS5YUpdate
balance of trade-830085-850196-0.0236545-7.20629-1.0-1.00.06666672020-09-30
business confidence-15.2-1.59.13333-1.55678-1.0-1.00.3166672020-11-01
capacity utilization45.443.80.0365297-0.0639175-1.0-1.002020-08-01
cash reserve ratio27.527.500.2222221.01.00.8666672020-03-31
composite pmi53.654.4-0.01470590.1551721.01.00.8833332021-06-30
consumer confidence-14.8-21.2-0.301887-15.8-1.0-1.002020-06-01
consumer price index cpi384379.90.01079230.1775531.01.00.852021-06-30
core inflation rate13.0913.2-0.008333330.2922011.01.00.8166672021-06-30
current account-1750.6-5264.53-0.667473-2.241361.0-1.002021-01-01
current account to gdp-4.2-3.30.272727-1.29577-1.0-1.002020-01-31
deposit interest rate3.053.13-0.0255591-0.504065-1.0-1.00.1333332021-03-31
exports10702709491230.1276410.108361.01.00.4833332021-03-31
external debt3286033348.1-0.01463650.4887711.01.002021-01-01
fiscal expenditure2387.462541.97-0.06078360.6478881.01.002020-12-31
foreign exchange reserves3342034250-0.0242336-0.0773054-1.0-1.00.3333332021-06-30
gdp432.3448.1-0.035260.2826521.01.002020-01-31
Real GDP1682690019550100-0.1392930.0364583-1.01.00.22020-11-01
gdp growth-13.99.68-2.435950.0334572-1.0-1.002020-11-01
gdp growth annual0.510.113.63636-0.730159-1.0-1.00.32020-07-01
gold reserves21.4621.370.004211510.004211511.01.012020-08-01
government budget-3.8-4.2-0.095238137-1.0-1.002020-01-31
Government budget-1483.93-1544.48-0.03920411.92654-1.0-1.002020-12-31
government debt to gdp34.9829.10.2020623.791781.01.002020-01-31
government revenues903.52997.49-0.0942065-0.0405844-1.0-1.002020-12-31
imports21935602456670-0.10710.5555511.01.00.8166672021-03-31
industrial production1.6-10.3-1.15534-0.8350521.0-1.002020-01-01
interest rate11.511.50-0.148148-1.0-1.00.12021-05-25
lending rate11.1311.21-0.00713649-0.243372-1.0-1.00.06666672021-03-31
manufacturing pmi4948.80.00409836-0.04109591.0-1.00.352021-04-30
money supply m027909002796470-0.00199180.1859311.01.00.8166672021-05-31
money supply m116278000159966000.01759120.3141411.01.00.752021-05-31
money supply m238849000383829000.01214340.1957031.01.00.72021-05-31
services pmi47.347.9-0.0125261-0.03861791.0-1.00.3666672021-04-30
unemployment rate33.327.10.2287821.752071.01.002018-11-01
youth unemployment rate53.440.80.3088241.483721.01.002020-10-31

NSE All Share Index Trading Signals

MacroVar estimates the following signals: NSE All Share Index momentum, NSE All Share Index trend, NSE All Share Index oscillator, NSE All Share Index RSI and NSE All Share Index returns.

NSE All Share Index Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar NSE All Share Index momentum signal ranges from -100 to +100. The NSE All Share Index momentum signal is derived as the mean value from 4 calculations for the NSE All Share Index. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. NSE All Share Index return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. NSE All Share Index momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when NSE All Share Index momentum signal moves from positive to negative value or vice-versa.

NSE All Share Index Trend

NSE All Share Index trend signal ranges from -100 to +100. NSE All Share Index trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. NSE All Share Index Closing price vs NSE All Share Index moving average (MA) calculation: If NSE All Share Index is greater than NSE All Share Index MA value is +1, else -1, 2. NSE All Share Index Moving average slope calculation: if current NSE All Share Index moving average is higher than the previous MA, NSE All Share Index upward slope +1, else -1
NSE All Share Index trend model can be used as a trend strength indicator. NSE All Share Index trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when NSE All Share Index trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The NSE All Share Index 52-week simple moving average and its slope are the most important indicators defining a market’s trend. NSE All Share Index is in an uptrend when NSE All Share Index price is higher than the 52-week moving average and the NSE All Share Index 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the NSE All Share Index oscillator and NSE All Share Index RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

NSE All Share Index Oscillator

The NSE All Share Index oscillator estimated by MacroVar is the z-score of the current NSE All Share Index price versus NSE All Share Index 1-year simple moving average price. The formula for the NSE All Share Index oscillator is:
NSE All Share Index oscillator = (Current Price – 250 trading days NSE All Share Index simple moving average price) / (250 days NSE All Share Index price standard deviation)

NSE All Share Index oversold conditions
NSE All Share Index is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the NSE All Share Index is oversold it is often due for a rebound. Values of the NSE All Share Index oscillator lower than -2.5 signify oversold conditions. It must be noted that the NSE All Share Index oscillator must be analyzed ibn conjunction with the rest of NSE All Share Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the NSE All Share Index RSI.
NSE All Share Index overbought conditions
NSE All Share Index is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the NSE All Share Index is overbought it is often due for a correction. Values of the NSE All Share Index oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the NSE All Share Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

NSE All Share Index RSI Indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when NSE All Share Index is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During NSE All Share Index uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

NSE All Share Index Returns

MacroVar calculates NSE All Share Index returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

NSE All Share Index returns = (NSE All Share Index Closing Price – NSE All Share Index Previous Price)/(NSE All Share Index Previous Price)

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