FeaturedMarket Update

Equities Market Update: NSEASI Maintained Bearish Path, Gave Up 79Bpts: 15/07/19

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the negative territory as the lead performance pointer-NSEASI gave up 79Bpts of its trading points and closed at 28,341.03 from 28,566.79. Safe NSE-Consumer Goods index that added points, other observed market indices in this report closed below their respective opening points. Thus, total lost points within the month of July increased to 543Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N110.046 billion, same as 79Bpts below the opening value.  Meanwhile, trading activities for the day produced 11 ADVANCERS and 21 LAGERS. NSEASI Year to Date loss is now 983Bpts while the Market Capitalization Year to Date gain stood at N2,091 trillion same as 1,784Bpts above the year’s opening value. See Index movement table for details.

The National Bureau of Statistics at the early hour of today released the Headline Inflation Rate for the month of June. According to the report, the rate fell to 11.22% YoY as against the 11.40% posted in the month of May. This is the lowest rate since July 2018. Prices rose at a softer pace for almost all categories. Annual core inflation, which excludes price of volatile agricultural products, fell to 8.84% in June, its lowest level since January 2016.

Market Mood is expected to be positively impacted before the end of the month; when half year earnings of equities with December year end and full year reports of others with March year end are released to the market. We therefore maintained that, traders should play by earnings expectations.

As at the time this report was gathered, Brent Crude sells at 66.48$/bbl, this is 24Bpts below the previous close price.

The I&E FX Window opened at N360.67 traded as high as N362.00 before rounding up at N361.10, having transacted a total of $161.85 million through the day. Please note that, margin between the close and open value is an equivalent of 9Bpts gain. 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 3.43%, same as 0.50% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.71%, that is, 0.50% 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 Update: NSEASI Maintained Bearish Path, Gave Up 79Bpts: 15/07/19

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the negative territory as the lead performance pointer-NSEASI gave up 79Bpts of its trading points and closed at 28,341.03 from 28,566.79. Safe NSE-Consumer Goods index that added points, other observed market indices in this report closed below their respective opening points. Thus, total lost points within the month of July increased to 543Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N110.046 billion, same as 79Bpts below the opening value.  Meanwhile, trading activities for the day produced 11 ADVANCERS and 21 LAGERS. NSEASI Year to Date loss is now 983Bpts while the Market Capitalization Year to Date gain stood at N2,091 trillion same as 1,784Bpts above the year’s opening value. See Index movement table for details.

The National Bureau of Statistics at the early hour of today released the Headline Inflation Rate for the month of June. According to the report, the rate fell to 11.22% YoY as against the 11.40% posted in the month of May. This is the lowest rate since July 2018. Prices rose at a softer pace for almost all categories. Annual core inflation, which excludes price of volatile agricultural products, fell to 8.84% in June, its lowest level since January 2016.

Market Mood is expected to be positively impacted before the end of the month; when half year earnings of equities with December year end and full year reports of others with March year end are released to the market. We therefore maintained that, traders should play by earnings expectations.

As at the time this report was gathered, Brent Crude sells at 66.48$/bbl, this is 24Bpts below the previous close price.

The I&E FX Window opened at N360.67 traded as high as N362.00 before rounding up at N361.10, having transacted a total of $161.85 million through the day. Please note that, margin between the close and open value is an equivalent of 9Bpts gain. 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 3.43%, same as 0.50% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.71%, that is, 0.50% 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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