FeaturedMarket Update

Equities Market Update: Portfolios Receives Further Knocks from the Bear, as Earnings Season Winds Up: 14/08/19

Resuming trade after the ed-el-Kabri Holiday, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory with only for gainers. Thus, the lead performance index, NSEASI gave up 82Bpts of its trading points and closed at 27,083.11 from 27,306.81. Safe NSE-Insurance Index that added marginal points, other observed market indices in this report closed below their respective opening points. Please note that, the total lost points in the month of August is now 229Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N109.014 billion, same as 82Bpts below the opening value.  Meanwhile, trading activities for the day produced 04 ADVANCERS and 27 LAGERS. NSEASI Year to Date loss is now 1,383Bpts while the Market Capitalization Year to Date gain stood at N1.477 trillion same as 1,261Bpts above the year’s opening value.

As the half year earnings season rounds up, traders have no other choice than to play by the general economic fundamentals, although few banking equities’ half year earnings have not been released till date, we do not expect the results to substantially save the market from the bear. In our opinion, equities investment risk will now be equally spread over all listed equities. Kindly note that, in such situation, any positive news from any listed equity will attract virtually all traders’ attention. This will definitely result in an outstanding positive movement of the stock price.

On the strength of the above, we recommend that, traders should watch out for news coming from all listed equities; while re-shuffling all portfolios for long term investments.

As at the time this report was gathered, Brent Crude sells at 59.17$/bbl, this is 39Bpts below the previous close price.

The I&E FX Window opened at N362.50 traded as high as N364.50 before rounding up at N363.22, having transacted a total of $299.31 million through the day. Please note that, margin between the close and open value is an equivalent of 6Bpts loss. 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 14.64%, same as 1.79% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 13.86%, that is, 1.71% 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: Portfolios Receives Further Knocks from the Bear, as Earnings Season Winds Up: 14/08/19

Resuming trade after the ed-el-Kabri Holiday, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory with only for gainers. Thus, the lead performance index, NSEASI gave up 82Bpts of its trading points and closed at 27,083.11 from 27,306.81. Safe NSE-Insurance Index that added marginal points, other observed market indices in this report closed below their respective opening points. Please note that, the total lost points in the month of August is now 229Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N109.014 billion, same as 82Bpts below the opening value.  Meanwhile, trading activities for the day produced 04 ADVANCERS and 27 LAGERS. NSEASI Year to Date loss is now 1,383Bpts while the Market Capitalization Year to Date gain stood at N1.477 trillion same as 1,261Bpts above the year’s opening value.

As the half year earnings season rounds up, traders have no other choice than to play by the general economic fundamentals, although few banking equities’ half year earnings have not been released till date, we do not expect the results to substantially save the market from the bear. In our opinion, equities investment risk will now be equally spread over all listed equities. Kindly note that, in such situation, any positive news from any listed equity will attract virtually all traders’ attention. This will definitely result in an outstanding positive movement of the stock price.

On the strength of the above, we recommend that, traders should watch out for news coming from all listed equities; while re-shuffling all portfolios for long term investments.

As at the time this report was gathered, Brent Crude sells at 59.17$/bbl, this is 39Bpts below the previous close price.

The I&E FX Window opened at N362.50 traded as high as N364.50 before rounding up at N363.22, having transacted a total of $299.31 million through the day. Please note that, margin between the close and open value is an equivalent of 6Bpts loss. 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 14.64%, same as 1.79% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 13.86%, that is, 1.71% 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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