FeaturedMarket Update

Nigerian Equities Market Sustains Recovery Moves, Adds 36Bpts

Trading activities on the floor of The Nigerian Stock Exchange maintained positive trend as the lead performance pointer, NSEASI added 36Bpts and closed at 26,872.09 from 26,776.16. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 8Bpts above the opening point while the total gained points in the month of November is now 196Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N46.303 billion, same as 36Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 1,450Bpts while the Market Capitalization Year to Date gain stood at N1.249 trillion same as 1,06 6Bpts above the year’s opening value.

The gainers’log was led by Cornerstone with 10.00% gain, as it rounded up trade at N0.77 from N0.70. Oando followed on the gainers’ log with 9.89% gain to close at N3.89 from N3.54. Flourmill, IkejaHotel and FCMB completed the price percentage gainers’ log with 9.85%, 9.62% and 7.39% respectively.

The price percentage losers’ log was led by CCNN with 10.00% loss, Jaizbank followed with 8.00% while Lasaco, Unilever, and UBA completed the log with 7.41%, 5.86% and 1.94% 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 63.98$/bbl, this is 158Bpts ABOVE the previous close price.

The I&E FX Window opened at N362.30 traded as high as N363.30 before rounding up at N362.85, having transacted a total of $224.27 million through the day. Please note that, margin between the close and open value is 9Bpts 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 4.50%, same as 10.71% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.86%, that is, 10.50% 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 Sustains Recovery Moves, Adds 36Bpts

Trading activities on the floor of The Nigerian Stock Exchange maintained positive trend as the lead performance pointer, NSEASI added 36Bpts and closed at 26,872.09 from 26,776.16. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 8Bpts above the opening point while the total gained points in the month of November is now 196Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N46.303 billion, same as 36Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 1,450Bpts while the Market Capitalization Year to Date gain stood at N1.249 trillion same as 1,06 6Bpts above the year’s opening value.

The gainers’log was led by Cornerstone with 10.00% gain, as it rounded up trade at N0.77 from N0.70. Oando followed on the gainers’ log with 9.89% gain to close at N3.89 from N3.54. Flourmill, IkejaHotel and FCMB completed the price percentage gainers’ log with 9.85%, 9.62% and 7.39% respectively.

The price percentage losers’ log was led by CCNN with 10.00% loss, Jaizbank followed with 8.00% while Lasaco, Unilever, and UBA completed the log with 7.41%, 5.86% and 1.94% 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 63.98$/bbl, this is 158Bpts ABOVE the previous close price.

The I&E FX Window opened at N362.30 traded as high as N363.30 before rounding up at N362.85, having transacted a total of $224.27 million through the day. Please note that, margin between the close and open value is 9Bpts 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 4.50%, same as 10.71% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.86%, that is, 10.50% 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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