FeaturedMarket Update

Four(4) Consecutive Red Days: Nigerian Equities Market Lost Marginal 8Bpts

Equities trading on the floor of The Nigerian Stock Exchange ended the second trading day of the week in the negative territory, as the lead performance pointer NSEASI gave up 8Bpts and closed at 27,547.56 from 27,570.94. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, lead activities index is 75Bpts below opening while the total lost points in the month of February is now 449Bpts. see the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N12.177 billion, same as 8Bpts below the opening value. Meanwhile, trading activities for the day produced 12 ADVANCERS and 13 LAGERS. NSEASI Year to Date gain is now 263Bpts while the Market Capitalization Year to Date gain stood at N1.389 trillion same as 1,072Bpts above the year’s opening value.

At the end of today’s trading activities, Wapic Insurance Led and UACN-Properties the advancers’ log with 10.00% each to close at N0.33 and N0.99 from N0.30 and N0.90 respectively. C&ILeasing followed with 7.41% to close at N5.80 from N5.40. Completing the top five price percentage gainers are; Neimeth (6.67%) and JaizBank (4.41%).

LawUnion led the decliners’ log with 4.81% as it rounded up at N0.99 from N1.04. Japaul Oil followed on the log with 4.76% loss as it close at N0.20 from N0.21. Courtville, Linkage Assurance and Vitafoam completed the top five price percentage losers’ list with 4.55%, 4.35% and 3.19% loss respectively.

As noted in our report yesterday, the market may not witness any serious moves until the fourth quarter earnings season fully takes off. Although the market had maintained down trend (going by the readings on the All Share Index), good numbers of listed equities are not actively participating in the straight fall. Nevertheless, the management of UCAP further exited the market today with its announcement of 50k cash dividend for the year end 31st December, 2019 business session. According to the document released through the exchange, the qualification date for the said dividend is 6th March, 2020 while the Agm and Payment date are respectively 24th and 26th March, 2020.

As at the time this report was gathered, Brent Crude sells at 57.71$/bbl, this is 4Bpts above the previous close price.

The I&E FX Window opened at N364.56 traded as high as N365.75 before rounding up at N364.95, having transacted a total of $411.40 million through the day. Please note that, margin between the close and open value is 0Bpts 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 4.17%, same as 0.67% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.42% 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

Four(4) Consecutive Red Days: Nigerian Equities Market Lost Marginal 8Bpts

Equities trading on the floor of The Nigerian Stock Exchange ended the second trading day of the week in the negative territory, as the lead performance pointer NSEASI gave up 8Bpts and closed at 27,547.56 from 27,570.94. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, lead activities index is 75Bpts below opening while the total lost points in the month of February is now 449Bpts. see the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N12.177 billion, same as 8Bpts below the opening value. Meanwhile, trading activities for the day produced 12 ADVANCERS and 13 LAGERS. NSEASI Year to Date gain is now 263Bpts while the Market Capitalization Year to Date gain stood at N1.389 trillion same as 1,072Bpts above the year’s opening value.

At the end of today’s trading activities, Wapic Insurance Led and UACN-Properties the advancers’ log with 10.00% each to close at N0.33 and N0.99 from N0.30 and N0.90 respectively. C&ILeasing followed with 7.41% to close at N5.80 from N5.40. Completing the top five price percentage gainers are; Neimeth (6.67%) and JaizBank (4.41%).

LawUnion led the decliners’ log with 4.81% as it rounded up at N0.99 from N1.04. Japaul Oil followed on the log with 4.76% loss as it close at N0.20 from N0.21. Courtville, Linkage Assurance and Vitafoam completed the top five price percentage losers’ list with 4.55%, 4.35% and 3.19% loss respectively.

As noted in our report yesterday, the market may not witness any serious moves until the fourth quarter earnings season fully takes off. Although the market had maintained down trend (going by the readings on the All Share Index), good numbers of listed equities are not actively participating in the straight fall. Nevertheless, the management of UCAP further exited the market today with its announcement of 50k cash dividend for the year end 31st December, 2019 business session. According to the document released through the exchange, the qualification date for the said dividend is 6th March, 2020 while the Agm and Payment date are respectively 24th and 26th March, 2020.

As at the time this report was gathered, Brent Crude sells at 57.71$/bbl, this is 4Bpts above the previous close price.

The I&E FX Window opened at N364.56 traded as high as N365.75 before rounding up at N364.95, having transacted a total of $411.40 million through the day. Please note that, margin between the close and open value is 0Bpts 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 4.17%, same as 0.67% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.42% 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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