FeaturedMarket Update

August Takes Off on a Positive Note on NGXASI- See Our Expectations for August

Starting up the month of August, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 15Bpt to its trading points, and closed at 38,604.72 from 38,547.08. It was a mixed performance amongst the observed market indices, as shown in the index movement table. Thus, WtD, the lead index is 15Bpts above opening, while the total gained points in the month of July is now 15Bpts. See the index movement table for details.

Fundamental View

The month of July which finally ended in the positive territory, witnessed mixed fundamentals, leading from the preparations/positioning for the half year financial numbers, to the reactions to June Headline Inflation Rates, and the Monetary Policy Committee meeting outcome expectations. One cannot fully overrule the effect of the new face of Covid-19 on market performance. According to NCDC the Delta variant, which is more transmissible than other known SARS-CoV-2 variants, has been detected in Nigeria. Meanwhile, the month of August is expected to run along fundamentals such as the concluding release of half year earnings, especially from few financial institutions with half year dividend policy. The release of Consumer Price Index (Headline Inflation) for the month of July is expected on the 16th while the half year GDP figures should be out on the 26th August. Should the Delta Variance Covid-19 stretch further, investments/business within the economy might be challenged. These and other unforeseen events will dictate the market direction in the new month.

Technical View

Although the market closed in the green territory today, the market ended with more wins to bearish investors, as the number of sliding equities increased. Also note that, Money Flow Index (MFI) is yet to respond to market direction, in other words, a sharp diversion exist between Price and MFI. Ordinarily, price is expected to always agree with MFI. Nevertheless, we recommend that traders watch out for performances as market opens for trade on the next trading day before taking investment decisions..

Sampling few indicators, we observed the followings; Money Flow Index (MFI) diverges from price as noted above, this is similar to what was noticed on Thursday July 29th, 2021. RSI Cross Over is a sell, although RSI5 is currently trending towards RSI15 from the bottom, in other words, a buy signal might be advised with another positive move.

Index Movements

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N30.027 billion, same as 15Bpts abovee the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 414Bpts while the Market Capitalization Year to Date loss stood at N943.140 million same as 448Bpts below the year’s opening value.

Gainers & Losers

Leading on the advancers’ log is Julius Berger with 8.89% gain above its previous close point, thus it rounded up at N22.50 from N24.50. NPF-Micr-Finance followed with 8.00% gain to round up trade at N1.89 from N1.75. Regency Alliance, Linkage Assurance and Mutual Benefits completed the top 5 price percentage gainers log with 7.14%, 6.67% and 5.41% respectively.

On the flip side Eterna Oil led with 10.00% price depreciation as it rounded up trade at N6.39 from N7.10. Neimeth followed closely with 9.71% loss, thus it closed at N1.58 from N1.75. Tripple-Gee, Dangote Sugar and Wapco completed the top 5 price percentage losers’ log with 9.09%, 5.41% and 5.02% respectively.

Top Performers

Top 5 Trades

Investors did a total of 392 deals on the shares of GTCO, while a total of 273 transactions were made on Zenith Bank shares through today’s trading session. Oando was next on the top 5 list with 272 transactions, while Transcorp and Access Bank completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 40.26 million units of Transcorp through the day’s trade. C&I-Leasing followed on the most traded by volume with 26.09 million shares. FCMB, Oando and Sovereign Insurance completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on GTCO (N229.51 million) was the highest for the day, followed by Presco where investors exchange N227.24 million worth of shares. Zenith Bank, MTNN, and C&I-Leasing completed the list as shown in the above table.

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the red by giving up 0.33% to close the day’s trade at 749.98, while the market Capitalisation equally rounded up in the negative territory as shed 0.34%  and close at 651.86 billion. Today’s performance produced two (2) advancers, and one (1) decliner. Kindly view today’s price list Here.

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 72.94$/bbl, this is 7Bpts above the last close price.

FMDQ-OTC BRIEF

The I&E FX Window opened at N411.50 traded as high as N412.15 before rounding up at N411.50, having transacted a total of $143.2 million through the day. Please note that, margin between the close and open value is 2Bpts up. 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 5.75%, same as 2.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 5.25% that is 2.25% below the previous close. Safe Trade.

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FeaturedMarket Update

August Takes Off on a Positive Note on NGXASI- See Our Expectations for August

Starting up the month of August, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 15Bpt to its trading points, and closed at 38,604.72 from 38,547.08. It was a mixed performance amongst the observed market indices, as shown in the index movement table. Thus, WtD, the lead index is 15Bpts above opening, while the total gained points in the month of July is now 15Bpts. See the index movement table for details.

Fundamental View

The month of July which finally ended in the positive territory, witnessed mixed fundamentals, leading from the preparations/positioning for the half year financial numbers, to the reactions to June Headline Inflation Rates, and the Monetary Policy Committee meeting outcome expectations. One cannot fully overrule the effect of the new face of Covid-19 on market performance. According to NCDC the Delta variant, which is more transmissible than other known SARS-CoV-2 variants, has been detected in Nigeria. Meanwhile, the month of August is expected to run along fundamentals such as the concluding release of half year earnings, especially from few financial institutions with half year dividend policy. The release of Consumer Price Index (Headline Inflation) for the month of July is expected on the 16th while the half year GDP figures should be out on the 26th August. Should the Delta Variance Covid-19 stretch further, investments/business within the economy might be challenged. These and other unforeseen events will dictate the market direction in the new month.

Technical View

Although the market closed in the green territory today, the market ended with more wins to bearish investors, as the number of sliding equities increased. Also note that, Money Flow Index (MFI) is yet to respond to market direction, in other words, a sharp diversion exist between Price and MFI. Ordinarily, price is expected to always agree with MFI. Nevertheless, we recommend that traders watch out for performances as market opens for trade on the next trading day before taking investment decisions..

Sampling few indicators, we observed the followings; Money Flow Index (MFI) diverges from price as noted above, this is similar to what was noticed on Thursday July 29th, 2021. RSI Cross Over is a sell, although RSI5 is currently trending towards RSI15 from the bottom, in other words, a buy signal might be advised with another positive move.

Index Movements

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N30.027 billion, same as 15Bpts abovee the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 414Bpts while the Market Capitalization Year to Date loss stood at N943.140 million same as 448Bpts below the year’s opening value.

Gainers & Losers

Leading on the advancers’ log is Julius Berger with 8.89% gain above its previous close point, thus it rounded up at N22.50 from N24.50. NPF-Micr-Finance followed with 8.00% gain to round up trade at N1.89 from N1.75. Regency Alliance, Linkage Assurance and Mutual Benefits completed the top 5 price percentage gainers log with 7.14%, 6.67% and 5.41% respectively.

On the flip side Eterna Oil led with 10.00% price depreciation as it rounded up trade at N6.39 from N7.10. Neimeth followed closely with 9.71% loss, thus it closed at N1.58 from N1.75. Tripple-Gee, Dangote Sugar and Wapco completed the top 5 price percentage losers’ log with 9.09%, 5.41% and 5.02% respectively.

Top Performers

Top 5 Trades

Investors did a total of 392 deals on the shares of GTCO, while a total of 273 transactions were made on Zenith Bank shares through today’s trading session. Oando was next on the top 5 list with 272 transactions, while Transcorp and Access Bank completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 40.26 million units of Transcorp through the day’s trade. C&I-Leasing followed on the most traded by volume with 26.09 million shares. FCMB, Oando and Sovereign Insurance completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on GTCO (N229.51 million) was the highest for the day, followed by Presco where investors exchange N227.24 million worth of shares. Zenith Bank, MTNN, and C&I-Leasing completed the list as shown in the above table.

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the red by giving up 0.33% to close the day’s trade at 749.98, while the market Capitalisation equally rounded up in the negative territory as shed 0.34%  and close at 651.86 billion. Today’s performance produced two (2) advancers, and one (1) decliner. Kindly view today’s price list Here.

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 72.94$/bbl, this is 7Bpts above the last close price.

FMDQ-OTC BRIEF

The I&E FX Window opened at N411.50 traded as high as N412.15 before rounding up at N411.50, having transacted a total of $143.2 million through the day. Please note that, margin between the close and open value is 2Bpts up. 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 5.75%, same as 2.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 5.25% that is 2.25% below the previous close. Safe Trade.

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