FeaturedMarket Update

Equities Market Attempted Recovery Despite Large Decliner’s Log

Equities trading on the floor of The Nigerian Stock Exchange today ended marginally in the positive territory as the lead performance pointer NSEASI added 3Bpts and closed at 32,152.90 from 32,143.41. It was a mixed performance amongst the observed market indices as shown in the index movement table. Nevertheless, Week to Date market return remained red to the tune of 15Bpts while Month to Date loss now stood at 97Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N3.464 billion, same as 3Bpts below the opening value.  Meanwhile, trading activities for the day produced 16 advancers and 26 lagers. NSEASI Year to Date loss is now 15.93% while the Market Capitalization Year to Date loss stood at N1.871 trillion same as 13.75% below the year’s opening value.

Unlike the first trading day of the week, Market momentum improved today as more equities joined the losers’ log. A total of 42 listed equities voice directed the market trend. In our opinion, indecisiveness is still very high around the market arena. Like we have consistently recommended, medium/long term positions stands higher chances of returning appreciable profit. Please note that a proper observation of the nine month earnings is of utmost important while selecting equities for your portfolios.

As at the time we compiled this report, Brent Crude trades at $69.94/bbl having loss 5.18% from the last close price.

At the interbank rate today, the Naira closed unchanged at N306.70 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.45 traded as high as N364.70 before rounding up at N363.71, having transacted a total of $89.23 million through the day. Please note that, margin between the close and open value is an equivalent of 5Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 6.58%, same as 0.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.67%, that is, 0.42% 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

Equities Market Attempted Recovery Despite Large Decliner’s Log

Equities trading on the floor of The Nigerian Stock Exchange today ended marginally in the positive territory as the lead performance pointer NSEASI added 3Bpts and closed at 32,152.90 from 32,143.41. It was a mixed performance amongst the observed market indices as shown in the index movement table. Nevertheless, Week to Date market return remained red to the tune of 15Bpts while Month to Date loss now stood at 97Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N3.464 billion, same as 3Bpts below the opening value.  Meanwhile, trading activities for the day produced 16 advancers and 26 lagers. NSEASI Year to Date loss is now 15.93% while the Market Capitalization Year to Date loss stood at N1.871 trillion same as 13.75% below the year’s opening value.

Unlike the first trading day of the week, Market momentum improved today as more equities joined the losers’ log. A total of 42 listed equities voice directed the market trend. In our opinion, indecisiveness is still very high around the market arena. Like we have consistently recommended, medium/long term positions stands higher chances of returning appreciable profit. Please note that a proper observation of the nine month earnings is of utmost important while selecting equities for your portfolios.

As at the time we compiled this report, Brent Crude trades at $69.94/bbl having loss 5.18% from the last close price.

At the interbank rate today, the Naira closed unchanged at N306.70 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.45 traded as high as N364.70 before rounding up at N363.71, having transacted a total of $89.23 million through the day. Please note that, margin between the close and open value is an equivalent of 5Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 6.58%, same as 0.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.67%, that is, 0.42% 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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