FeaturedMarket Update

Four Straight Bearish Days; The Bear Reduces Pace, Gives up 6Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the fourth trading day of the week in the negative territory, as the lead performance pointer NSEASI gave up 6Bpts and closed at 26,583.75 from 26,598.94. All observed market indices in this report closed below their respective openings except NSE-Oil & Gas and NSE-Lotus II that closed flat. Thus, Week to Date, lead activities index is 150Bpts below opening, while the total lost points in the month of October increased to 379Bpts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N7.391 billion, same as 6Bpts below the opening value.  Meanwhile, trading activities for the day produced 8 ADVANCERS and 15 LAGERS. NSEASI Year to Date loss is now 1,542Bpts while the Market Capitalization Year to Date gain stood at N1.220 trillion same as 1,041Bpts above the year’s opening value.

Leading on the gainers’ log is Learn Africa that gained 9.82% and rounded up at N1.23 from N1.12. Livestock Feeds followed with 9.30% or N0.04 the brought its price to N0.47 from N0.43. UCAP also gained 7.50% of its previous close price, while ABC Transport and Wema Bank completed the top five price percentage gainers for the day with 5.26% and 3.45% gain respectively.

WAPIC led the decliners’ log with 8.57% price depreciation that ended its share price at N0.32 from N0.35. Linkage Assurance followed on the price percentage losers’ log with 7.84% loss, while Custodian, Honeywell Flour and Royal Exchange completed the to five percentage losers with 5.83%, 5.00% and 4.76% respectively.

In our opinion; market will react sharply to any fundamental news at the moment, thus, it is very important for traders to be up-to-date on news and fundamental developments around the market and the economy at large. Kindly note also that the nine months earnings season is around the corner, and trading with the idea of possible outcomes from listed equities will effectively guide investment approach/stock selection.

As at the time this report was gathered, Brent Crude sells at 58.82$/bbl, this is 86Bpts above the previous close price.

The I&E FX Window opened at N362.25 traded as high as N363.50 before rounding up at N362.46, having transacted a total of $136.83 million through the day. Please note that, margin between the close and open value is 1Bpts 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 5.50%, same as 0.43% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 4.71%, that is, 0.29% 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

Four Straight Bearish Days; The Bear Reduces Pace, Gives up 6Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the fourth trading day of the week in the negative territory, as the lead performance pointer NSEASI gave up 6Bpts and closed at 26,583.75 from 26,598.94. All observed market indices in this report closed below their respective openings except NSE-Oil & Gas and NSE-Lotus II that closed flat. Thus, Week to Date, lead activities index is 150Bpts below opening, while the total lost points in the month of October increased to 379Bpts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N7.391 billion, same as 6Bpts below the opening value.  Meanwhile, trading activities for the day produced 8 ADVANCERS and 15 LAGERS. NSEASI Year to Date loss is now 1,542Bpts while the Market Capitalization Year to Date gain stood at N1.220 trillion same as 1,041Bpts above the year’s opening value.

Leading on the gainers’ log is Learn Africa that gained 9.82% and rounded up at N1.23 from N1.12. Livestock Feeds followed with 9.30% or N0.04 the brought its price to N0.47 from N0.43. UCAP also gained 7.50% of its previous close price, while ABC Transport and Wema Bank completed the top five price percentage gainers for the day with 5.26% and 3.45% gain respectively.

WAPIC led the decliners’ log with 8.57% price depreciation that ended its share price at N0.32 from N0.35. Linkage Assurance followed on the price percentage losers’ log with 7.84% loss, while Custodian, Honeywell Flour and Royal Exchange completed the to five percentage losers with 5.83%, 5.00% and 4.76% respectively.

In our opinion; market will react sharply to any fundamental news at the moment, thus, it is very important for traders to be up-to-date on news and fundamental developments around the market and the economy at large. Kindly note also that the nine months earnings season is around the corner, and trading with the idea of possible outcomes from listed equities will effectively guide investment approach/stock selection.

As at the time this report was gathered, Brent Crude sells at 58.82$/bbl, this is 86Bpts above the previous close price.

The I&E FX Window opened at N362.25 traded as high as N363.50 before rounding up at N362.46, having transacted a total of $136.83 million through the day. Please note that, margin between the close and open value is 1Bpts 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 5.50%, same as 0.43% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 4.71%, that is, 0.29% 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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