FeaturedMarket Update

Gains on Newly Listed Airtel Africa and Nine (9) other Stocks Added N1.378 Trillion to Market Capitalization: 09/07/2019

Impacted by gains on the newly listed Aitel Africa Shares, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 10Bpts to its trading points and closed at 29,318.02 from 29,287.87. All observed market indices in this report closed below their respective opening points. Nevertheless, Week to Date market returns increased to 16Bpts while the total lost points for the month adjusted to 217Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N1.378 trillion, same as 1,068Bpts above the opening value.  Meanwhile, trading activities for the day produced 10 ADVANCERS and 20 LAGERS. NSEASI Year to Date loss is now 672Bpts while the Market Capitalization Year to Date gain stood at N2,567 trillion same as 2,191Bpts above the year’s opening value.

As noted in our report yesterday, a total of 3,758,151,504 units of Airtel Africa shares was listed on the exchange today at N363.00. Before the end of trading added N36.30 same as 10% of the opening price and closed at N399.30. The new listing improved the Market Capitalization as stated above while the 10% gain helped the all share index stayed in the green zone.

As shown in the performance log (gainers & losers) the market remained generally bearish, further revealing the bearishness further is the fact that all exchange sub indices observed in our report dipped. Nevertheless, since we expect the market to react positively to half year earnings (expected to start hitting the market from next week), we maintained that investors should play by half year expectations.

As at the time this report was gathered, Brent Crude sells at 64.46$/bbl, this is 35Bpts above the previous close price.

The I&E FX Window opened at N360.40 traded as high as N362.00 before rounding up at N360.61, having transacted a total of $128.59 million through the day. Please note that, margin between the close and open value is an equivalent of 8Bpts 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 3.29%, same as 0.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.93%, that is, 0.14% 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

Gains on Newly Listed Airtel Africa and Nine (9) other Stocks Added N1.378 Trillion to Market Capitalization: 09/07/2019

Impacted by gains on the newly listed Aitel Africa Shares, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 10Bpts to its trading points and closed at 29,318.02 from 29,287.87. All observed market indices in this report closed below their respective opening points. Nevertheless, Week to Date market returns increased to 16Bpts while the total lost points for the month adjusted to 217Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N1.378 trillion, same as 1,068Bpts above the opening value.  Meanwhile, trading activities for the day produced 10 ADVANCERS and 20 LAGERS. NSEASI Year to Date loss is now 672Bpts while the Market Capitalization Year to Date gain stood at N2,567 trillion same as 2,191Bpts above the year’s opening value.

As noted in our report yesterday, a total of 3,758,151,504 units of Airtel Africa shares was listed on the exchange today at N363.00. Before the end of trading added N36.30 same as 10% of the opening price and closed at N399.30. The new listing improved the Market Capitalization as stated above while the 10% gain helped the all share index stayed in the green zone.

As shown in the performance log (gainers & losers) the market remained generally bearish, further revealing the bearishness further is the fact that all exchange sub indices observed in our report dipped. Nevertheless, since we expect the market to react positively to half year earnings (expected to start hitting the market from next week), we maintained that investors should play by half year expectations.

As at the time this report was gathered, Brent Crude sells at 64.46$/bbl, this is 35Bpts above the previous close price.

The I&E FX Window opened at N360.40 traded as high as N362.00 before rounding up at N360.61, having transacted a total of $128.59 million through the day. Please note that, margin between the close and open value is an equivalent of 8Bpts 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 3.29%, same as 0.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.93%, that is, 0.14% 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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