FeaturedMarket Update

Equities Market Builds on Positive Moves, Ends Monday with 37Bpts Gain

Starting off the new week, equities trading on the floor of The Nigerian Stock Exchange closed higher as the lead performance pointer NSEASI added 37Bpts to its trading points and closed at 32,962.82 from 32,664.63Safe NSE-Industrial Goods that shed points, other observed market indices rounded up above their respective opening points. Thus, Week to Date, market is 64Bpts into the green zone while Month to Date return loss based to 31Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N44.221 billion, same as 37Bpts above the opening value.  Meanwhile, trading activities for the day produced 17 advancers and 17 lagers. NSEASI Year to Date loss is now 13.81% while the Market Capitalization Year to Date loss stood at N1.575 trillion same as 11.58% below the year’s opening value.

As the third quarter earnings season properly kicks off, we reiterate that traders should carefully screen earnings figures for timely position towards the full year incentives. Meanwhile, it should equally be noted that most listed equities are quite attractive at the moment, as induced by the prolonged weak performances around the market arena in recent times. We are of the opinion that the banking stocks are most shielded from the nation’s harsh business environment especially with the keen regulations from the CBN.

As at the time we compiled this report, Brent Crude trades at $79.52/bbl having lost 0.31% from the last close price.

At the interbank rate today, the Naira closed at N306.55, against the USDollar same as 2Bpts above Friday’s close point.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N364.08 traded as high as N365.20 before rounding up at N364.09, having transacted a total of $168.96 million through the day. Please note that, margin between the close and open value is an equivalent of 2Bpts loss. 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 22.29%, same as 8.95% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 20.00%, that is, 7.33% above 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 Builds on Positive Moves, Ends Monday with 37Bpts Gain

Starting off the new week, equities trading on the floor of The Nigerian Stock Exchange closed higher as the lead performance pointer NSEASI added 37Bpts to its trading points and closed at 32,962.82 from 32,664.63Safe NSE-Industrial Goods that shed points, other observed market indices rounded up above their respective opening points. Thus, Week to Date, market is 64Bpts into the green zone while Month to Date return loss based to 31Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N44.221 billion, same as 37Bpts above the opening value.  Meanwhile, trading activities for the day produced 17 advancers and 17 lagers. NSEASI Year to Date loss is now 13.81% while the Market Capitalization Year to Date loss stood at N1.575 trillion same as 11.58% below the year’s opening value.

As the third quarter earnings season properly kicks off, we reiterate that traders should carefully screen earnings figures for timely position towards the full year incentives. Meanwhile, it should equally be noted that most listed equities are quite attractive at the moment, as induced by the prolonged weak performances around the market arena in recent times. We are of the opinion that the banking stocks are most shielded from the nation’s harsh business environment especially with the keen regulations from the CBN.

As at the time we compiled this report, Brent Crude trades at $79.52/bbl having lost 0.31% from the last close price.

At the interbank rate today, the Naira closed at N306.55, against the USDollar same as 2Bpts above Friday’s close point.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N364.08 traded as high as N365.20 before rounding up at N364.09, having transacted a total of $168.96 million through the day. Please note that, margin between the close and open value is an equivalent of 2Bpts loss. 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 22.29%, same as 8.95% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 20.00%, that is, 7.33% above 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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