FeaturedMarket Update

Despite More Lagers, NSEASI Maintains Recovery, Adds 34Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the second trading day of the week in the green, as the lead performance pointer- NSEASI added 34Bpts and closed at 25,335.15 from 25,249.96. It was a mixed performance amongst the observed market indices in this report, as shown in the index movement table. Thus, Week to Date, lead index is 127Bpts above opening while the total gained points in the month of June is now 27BPts. See the index movement table for details.

Maintaining recovery from the last profit taking activities session, the market took another step into the positive territory. Although market breadth favoured the decliners, NSEASI still made it through the green part. Please understand that, the market still trades below resistance and is currently back in a side-way trend. We maintained that, Points of trade at the moment includes; detecting policy impact on equities of choice, playing by closure dates of various listed equities that recently announced their full year cash dividend, and testing equities with March financial year end for dividend payment consistency.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N44.442 billion, same as 34Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 561Bpts while the Market Capitalization Year to Date gain stood at N257.933 billion same as 199Bpts above the year’s opening value.

Leading the advancers’ log with 10.00% are Boc-Gases, Mutual Benefit and royal Exchange as they closed at N4.51, N0.22 and N0.22 from N4.10, N0.20 & N0.20 respectively. Neimeth and Prestige Assurance completed the top 5 price percentage gainers for the day with 9.79% and 9.37% respectively.

Mobil Oil led the decliners for the day with 9.96% as it ended the day’s trade at N192.60 from N213.90. Fidson Healthcare followed on the log with 7.69%, thus it closed at N3.00 from N3.25. Japaul Oil, Red Star Express and JaizBank completed the top 5 list with 7.41%, 6.56% and 5.63% respectively.

As at the time this report was gathered, Brent Crude sells at 40.76$/bbl, this is 102Bpts below the previous close price.

The I&E FX Window opened at N385.95 traded as high as N390.29 before rounding up at N387.08, having transacted a total of $31.81 million through the day. Please note that, margin between the close and open value is 6Bpts 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 15.42%, same as 0.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.50% that is 0.00% 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

Despite More Lagers, NSEASI Maintains Recovery, Adds 34Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the second trading day of the week in the green, as the lead performance pointer- NSEASI added 34Bpts and closed at 25,335.15 from 25,249.96. It was a mixed performance amongst the observed market indices in this report, as shown in the index movement table. Thus, Week to Date, lead index is 127Bpts above opening while the total gained points in the month of June is now 27BPts. See the index movement table for details.

Maintaining recovery from the last profit taking activities session, the market took another step into the positive territory. Although market breadth favoured the decliners, NSEASI still made it through the green part. Please understand that, the market still trades below resistance and is currently back in a side-way trend. We maintained that, Points of trade at the moment includes; detecting policy impact on equities of choice, playing by closure dates of various listed equities that recently announced their full year cash dividend, and testing equities with March financial year end for dividend payment consistency.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N44.442 billion, same as 34Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 561Bpts while the Market Capitalization Year to Date gain stood at N257.933 billion same as 199Bpts above the year’s opening value.

Leading the advancers’ log with 10.00% are Boc-Gases, Mutual Benefit and royal Exchange as they closed at N4.51, N0.22 and N0.22 from N4.10, N0.20 & N0.20 respectively. Neimeth and Prestige Assurance completed the top 5 price percentage gainers for the day with 9.79% and 9.37% respectively.

Mobil Oil led the decliners for the day with 9.96% as it ended the day’s trade at N192.60 from N213.90. Fidson Healthcare followed on the log with 7.69%, thus it closed at N3.00 from N3.25. Japaul Oil, Red Star Express and JaizBank completed the top 5 list with 7.41%, 6.56% and 5.63% respectively.

As at the time this report was gathered, Brent Crude sells at 40.76$/bbl, this is 102Bpts below the previous close price.

The I&E FX Window opened at N385.95 traded as high as N390.29 before rounding up at N387.08, having transacted a total of $31.81 million through the day. Please note that, margin between the close and open value is 6Bpts 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 15.42%, same as 0.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.50% that is 0.00% 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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