FeaturedMarket Update

As Traders Await Audited Q4 Numbers, NSEASI Maintains Bearish Path

Bearish sentiments extends to the third trading day of the week as the lead performance pointer NSEASI gave up 9Bpts and closed at 27,523.08 from 27,547.56. Safe NSE-Premium and NSE-Industrial Goods that gained, other observed market indices in this report closed below their respective opening points.  Thus, Week to Date, lead activities index is 84Bpts below opening while the total lost points in the month of February is now 458Bpts. see the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N9.144 billion, same as 6Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 17 LAGERS. NSEASI Year to Date gain is now 254Bpts while the Market Capitalization Year to Date gain stood at N1.379 trillion same as 1,065Bpts above the year’s opening value.

At the end of today’s trading activities, UCAP Led the advancers’ log with 9.90% to close at N2.93 from N3.22. African Prudential followed with 9.87% to close at N5.12 from N4.66. Completing the top five price percentage gainers are;  AIICO (9.76%) C&ILeasing (9.48%) and Unity Bank (9.26%).

Mansard led the decliners’ log with 10.00% as it rounded up at N1.80 from N2.00. Forte Oil followed on the log with 9.97% loss as it close at N16.70 from N18.55. Custodian Insurance, NCR and Law Union completed the top five price percentage losers’ list with 9.92%, 9.40% and 9.09% loss respectively.

As noted in our report yesterday, the market may not witness any serious moves until the fourth quarter earnings season fully takes off. Although the market had maintained down trend (going by the readings on the All Share Index), good numbers of listed equities are not actively participating in the straight fall. The best investment approach to this move is to take timely positions in listed equities with very strong chances of dividend payment before results stat coming from the end of the month.

As at the time this report was gathered, Brent Crude sells at 59.04$/bbl, this is 129Bpts above the previous close price.

The I&E FX Window opened at N364.66 traded as high as N366.00 before rounding up at N364.91, having transacted a total of $204.71 million through the day. Please note that, margin between the close and open value is 1Bpts down. 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 4.10%, same as 0.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.20% that is 0.22% 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

As Traders Await Audited Q4 Numbers, NSEASI Maintains Bearish Path

Bearish sentiments extends to the third trading day of the week as the lead performance pointer NSEASI gave up 9Bpts and closed at 27,523.08 from 27,547.56. Safe NSE-Premium and NSE-Industrial Goods that gained, other observed market indices in this report closed below their respective opening points.  Thus, Week to Date, lead activities index is 84Bpts below opening while the total lost points in the month of February is now 458Bpts. see the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N9.144 billion, same as 6Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 17 LAGERS. NSEASI Year to Date gain is now 254Bpts while the Market Capitalization Year to Date gain stood at N1.379 trillion same as 1,065Bpts above the year’s opening value.

At the end of today’s trading activities, UCAP Led the advancers’ log with 9.90% to close at N2.93 from N3.22. African Prudential followed with 9.87% to close at N5.12 from N4.66. Completing the top five price percentage gainers are;  AIICO (9.76%) C&ILeasing (9.48%) and Unity Bank (9.26%).

Mansard led the decliners’ log with 10.00% as it rounded up at N1.80 from N2.00. Forte Oil followed on the log with 9.97% loss as it close at N16.70 from N18.55. Custodian Insurance, NCR and Law Union completed the top five price percentage losers’ list with 9.92%, 9.40% and 9.09% loss respectively.

As noted in our report yesterday, the market may not witness any serious moves until the fourth quarter earnings season fully takes off. Although the market had maintained down trend (going by the readings on the All Share Index), good numbers of listed equities are not actively participating in the straight fall. The best investment approach to this move is to take timely positions in listed equities with very strong chances of dividend payment before results stat coming from the end of the month.

As at the time this report was gathered, Brent Crude sells at 59.04$/bbl, this is 129Bpts above the previous close price.

The I&E FX Window opened at N364.66 traded as high as N366.00 before rounding up at N364.91, having transacted a total of $204.71 million through the day. Please note that, margin between the close and open value is 1Bpts down. 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 4.10%, same as 0.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.20% that is 0.22% 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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