FeaturedMarket Update

Equities Market Closed Green, as NSEASI Added 34Bpts: 11th December, 2018

Equities trading on the floor of The Nigerian Stock Exchange today rounded up in the positive territory as the lead performance index- NSEASI added 34Bpts and closed at 30,718.72 from 30,614.73. Safe NSE-Banking and NSE-Insurance index that shed points, other observed market indices rounded up in the green. Thus, Week to Date, activities index is below opening by 48Bpts while total lost point within the month is now 50Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N43.819 billion, same as 39Bpts above the opening value.  Meanwhile, trading activities for the day produced 23 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 19.68% while the Market Capitalization Year to Date loss stood at N2.388 trillion same as 17.55% below the year’s opening value.

In our opinion, the nation’s economic growth would maintain the positive side through the year, this is despite the reduced contribution of the oil sector to the just released GDP figure. Please note that according to the report released by the National Bureau of Statistics, growth were observed in the following sectors; electricity and others supply, information and communication, transport and other services, in contrast to contraction in the financial and insurance sector, mining and quarrying, real estate and public administration among others. Nevertheless, we have noticed that traders are generally indifference to most of these changes as market trend seems to be maintaining status quo so far.

As at the time we compiled this report, Brent Crude trades at $60.85/bbl having added 0.65% from the last close price.

At the interbank rate today, the Naira closed unchanged at N306.90 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N364.36 traded as high as N366.00 before rounding up at N365.21, having transacted a total of $281.07 million through the day. Please note that, margin between the close and open value is an equivalent of 5Bpts 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 70.92%, same as 29.33% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 65.00%, that is, 25.83% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

By: Jeariogbe Tunde Segun (Independent Equities Market Analyst)

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FeaturedMarket Update

Equities Market Closed Green, as NSEASI Added 34Bpts: 11th December, 2018

Equities trading on the floor of The Nigerian Stock Exchange today rounded up in the positive territory as the lead performance index- NSEASI added 34Bpts and closed at 30,718.72 from 30,614.73. Safe NSE-Banking and NSE-Insurance index that shed points, other observed market indices rounded up in the green. Thus, Week to Date, activities index is below opening by 48Bpts while total lost point within the month is now 50Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N43.819 billion, same as 39Bpts above the opening value.  Meanwhile, trading activities for the day produced 23 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 19.68% while the Market Capitalization Year to Date loss stood at N2.388 trillion same as 17.55% below the year’s opening value.

In our opinion, the nation’s economic growth would maintain the positive side through the year, this is despite the reduced contribution of the oil sector to the just released GDP figure. Please note that according to the report released by the National Bureau of Statistics, growth were observed in the following sectors; electricity and others supply, information and communication, transport and other services, in contrast to contraction in the financial and insurance sector, mining and quarrying, real estate and public administration among others. Nevertheless, we have noticed that traders are generally indifference to most of these changes as market trend seems to be maintaining status quo so far.

As at the time we compiled this report, Brent Crude trades at $60.85/bbl having added 0.65% from the last close price.

At the interbank rate today, the Naira closed unchanged at N306.90 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N364.36 traded as high as N366.00 before rounding up at N365.21, having transacted a total of $281.07 million through the day. Please note that, margin between the close and open value is an equivalent of 5Bpts 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 70.92%, same as 29.33% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 65.00%, that is, 25.83% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

By: Jeariogbe Tunde Segun (Independent Equities Market Analyst)

Comment here