FeaturedMarket Update

Nigerian Equities Market Closes Green, Adds 18Bpts

Trading activities on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer, NSEASI added 18Bpts and closed at 26,739.52 from 26,691.09. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 42Bpts below opening while the total gained points in the month of November is now 146Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N23.335 billion, same as 18Bpts above the opening value.  Meanwhile, trading activities for the day produced 20 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,492Bpts while the Market Capitalization Year to Date gain stood at N1.185 trillion same as 1,011Bpts above the year’s opening value.

Leading the price percentage gainers’ log is Ekocorp that gained 10.00% of its previous close price to close at N4.07 from N3.700. Conoil followed with 9.74% gain as it rounded up at N16.90 from N15.40. LearnAfrica, Neimeth and Academy Press completed the top 5 list with 9.43%, 9.09% and 8.82% respectively.

Meanwhile, ABC-Transport led the decliners’ log with 8.89% as it closed at N0.41 from N0.45. UCAP followed with 5.22% as it bowed to profit taking activities.  AIICO, CHIPLC and Livestock Feeds completed the log with 5.19%, 5.13% and 3.85% respectively.

As noted in our previous reports, recent policies by the CBN along other moves by the exchange and other stakeholders should increase liquidity around the equities market. Although market may consistently experience short-lived recovery moves, in our opinion, such is typical of a recovering market. Buying interest remain strong in most listed equities although the lead performance pointer may not reflect the same posture always, we conclude that traders should take timely advantage of low priced equities and play dividend stocks accordingly.

As at the time this report was gathered, Brent Crude sells at 60.91$/bbl, this is 153Bpts below the previous close price.

The I&E FX Window opened at N362.00 traded as high as N363.40 before rounding up at N362.80, having transacted a total of $316.12 million through the day. Please note that, margin between the close and open value is 8Bpts gain. 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 16.50%, same as 1.93% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.57%, that is, 2.00% below 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 Closes Green, Adds 18Bpts

Trading activities on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer, NSEASI added 18Bpts and closed at 26,739.52 from 26,691.09. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 42Bpts below opening while the total gained points in the month of November is now 146Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N23.335 billion, same as 18Bpts above the opening value.  Meanwhile, trading activities for the day produced 20 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,492Bpts while the Market Capitalization Year to Date gain stood at N1.185 trillion same as 1,011Bpts above the year’s opening value.

Leading the price percentage gainers’ log is Ekocorp that gained 10.00% of its previous close price to close at N4.07 from N3.700. Conoil followed with 9.74% gain as it rounded up at N16.90 from N15.40. LearnAfrica, Neimeth and Academy Press completed the top 5 list with 9.43%, 9.09% and 8.82% respectively.

Meanwhile, ABC-Transport led the decliners’ log with 8.89% as it closed at N0.41 from N0.45. UCAP followed with 5.22% as it bowed to profit taking activities.  AIICO, CHIPLC and Livestock Feeds completed the log with 5.19%, 5.13% and 3.85% respectively.

As noted in our previous reports, recent policies by the CBN along other moves by the exchange and other stakeholders should increase liquidity around the equities market. Although market may consistently experience short-lived recovery moves, in our opinion, such is typical of a recovering market. Buying interest remain strong in most listed equities although the lead performance pointer may not reflect the same posture always, we conclude that traders should take timely advantage of low priced equities and play dividend stocks accordingly.

As at the time this report was gathered, Brent Crude sells at 60.91$/bbl, this is 153Bpts below the previous close price.

The I&E FX Window opened at N362.00 traded as high as N363.40 before rounding up at N362.80, having transacted a total of $316.12 million through the day. Please note that, margin between the close and open value is 8Bpts gain. 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 16.50%, same as 1.93% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.57%, that is, 2.00% below 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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