FeaturedMarket Update

Nigerian Equities Market Update: The Bears Hijacked Recovery, Snatched off 3 Days Gained Points

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the All Share Index gave up 97Bpts and rounded up at 27,319.64 from 27,586.79. Safe NSE-Industrial Goods that added points, other observed market indices in this report closed below their respective opening points. Thus, both Week and Month to Date market returns reversed by 75Bpts into the negative region. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N129.965 billion, same as 97Bpts below the opening value.  Meanwhile, trading activities for the day produced 13 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 1,308Bpts while the Market Capitalization Year to Date gain stood at N1.569 trillion same as 1,339Bpts above the year’s opening value.

Today’s move is a total wipe off of three (3) trading days gains and could be seen as traders’ reactions to general analysts’ opinions on the just released half year GDP numbers. Many foresee a continued growth step back into the third and fourth quarter of 2019, especially since we are already in the last month of the third quarter and the 2019 budget implementation still have few stages to pass through. Please understand that this is an important pointer to expectations from the third quarter earnings of equities with December year end, and other equities due to release quarterly results at the end of September.

Nevertheless, since the best investment approach is to stock more goods when prices are down, we maintained that liquid investors should keep positioning in tranches after considering price trends and making conservative valuations of choice equities.

As at the time this report was gathered, Brent Crude sells at 60.86$/bbl, this is 16Bpts above the previous close price.

The I&E FX Window opened at N362.45 traded as high as N363.50 before rounding up at N362.40, having transacted a total of $273.16 million through the day. Please note that, margin between the close and open value is 13Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-rates.

In the money market, the Overnight (O/N) rate closed at 9.50%, same as 0.57% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 8.64, that is, 0.64% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

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FeaturedMarket Update

Nigerian Equities Market Update: The Bears Hijacked Recovery, Snatched off 3 Days Gained Points

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the All Share Index gave up 97Bpts and rounded up at 27,319.64 from 27,586.79. Safe NSE-Industrial Goods that added points, other observed market indices in this report closed below their respective opening points. Thus, both Week and Month to Date market returns reversed by 75Bpts into the negative region. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N129.965 billion, same as 97Bpts below the opening value.  Meanwhile, trading activities for the day produced 13 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 1,308Bpts while the Market Capitalization Year to Date gain stood at N1.569 trillion same as 1,339Bpts above the year’s opening value.

Today’s move is a total wipe off of three (3) trading days gains and could be seen as traders’ reactions to general analysts’ opinions on the just released half year GDP numbers. Many foresee a continued growth step back into the third and fourth quarter of 2019, especially since we are already in the last month of the third quarter and the 2019 budget implementation still have few stages to pass through. Please understand that this is an important pointer to expectations from the third quarter earnings of equities with December year end, and other equities due to release quarterly results at the end of September.

Nevertheless, since the best investment approach is to stock more goods when prices are down, we maintained that liquid investors should keep positioning in tranches after considering price trends and making conservative valuations of choice equities.

As at the time this report was gathered, Brent Crude sells at 60.86$/bbl, this is 16Bpts above the previous close price.

The I&E FX Window opened at N362.45 traded as high as N363.50 before rounding up at N362.40, having transacted a total of $273.16 million through the day. Please note that, margin between the close and open value is 13Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-rates.

In the money market, the Overnight (O/N) rate closed at 9.50%, same as 0.57% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 8.64, that is, 0.64% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

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