FeaturedMarket Update

Heightened Indecisiveness as Nigerian Stock Market Gave Up 44Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the red, as the lead performance pointer-NSEASI gave up 44Bpts and closed at 24,200.60 from 24,306.36. Safe NSE-Industrial Goods index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, activities index is 44Bpts below opening; while the total lost points in the month of July is now 114BPts. see the index movements table for details.

As the market approaches the pick of half year earnings season, investors were observed playing cautiously around the market, as portfolios were being re-shuffled to accommodate expectations. Please note that, market rumours have it that, few banks planned to maintain half year interim dividend policies, and the banks in this group are; Guaranty Trust Bank, Zenith Bank, UBA, Access Bank and Stanbic IBTC. Nevertheless, we maintained that investors should tread cautiously around the market.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N55.170 million, same as 44Bpts below the opening value. Meanwhile, trading activities for the day produced 14 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 984Bpts while the Market Capitalization Year to Date loss stood at N333.914 billion same as 258Bpts below the year’s opening value.

NPF-Micro Finance led the gainers’ log with 10.00% to close at N1.32 from N1.20. Neimeth followed on the list with 9.35% gain, thus it ended the day’s trade at N1.52 from N1.39. Linkage Assurance, ABC-Transport and Caverton completed the top 5 price percentage gainers list with 8.51%, 7.84% and 7.73% respectively.

Meanwhile, Mobil led the decliners’ log with 9.97% to close at N173.40 from N192.60. Chams came next with 8.33% to round up trade at N0.22 from N0.24. Eternal Oil, Wapic and Transcorp completed the list with 6.70%, 5.71% and 4.62% respectively.

Over the Counter Market Index and Capitalisation both added 0.44% each, thus, each rounded up at point 710.89 and N522.19 billion respectively. There is no loser through today’s trade while CSCS and Wampco gained 2.88% and 0.25% to close at N13.90 and N121.30 from N13.50 and N121.00 respectively.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 42.27$/bbl, this is 224Bpts below the previous close price.

The I&E FX Window opened at N387.46 traded as high as N391.49 before rounding up at N386.00, having transacted a total of $36.28 million through the day. Please note that, margin between the close and open value is 26Bpts down. 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 11.17%, same as 2.93% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 10.33% that is 3.47% below 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

Heightened Indecisiveness as Nigerian Stock Market Gave Up 44Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the red, as the lead performance pointer-NSEASI gave up 44Bpts and closed at 24,200.60 from 24,306.36. Safe NSE-Industrial Goods index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, activities index is 44Bpts below opening; while the total lost points in the month of July is now 114BPts. see the index movements table for details.

As the market approaches the pick of half year earnings season, investors were observed playing cautiously around the market, as portfolios were being re-shuffled to accommodate expectations. Please note that, market rumours have it that, few banks planned to maintain half year interim dividend policies, and the banks in this group are; Guaranty Trust Bank, Zenith Bank, UBA, Access Bank and Stanbic IBTC. Nevertheless, we maintained that investors should tread cautiously around the market.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N55.170 million, same as 44Bpts below the opening value. Meanwhile, trading activities for the day produced 14 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 984Bpts while the Market Capitalization Year to Date loss stood at N333.914 billion same as 258Bpts below the year’s opening value.

NPF-Micro Finance led the gainers’ log with 10.00% to close at N1.32 from N1.20. Neimeth followed on the list with 9.35% gain, thus it ended the day’s trade at N1.52 from N1.39. Linkage Assurance, ABC-Transport and Caverton completed the top 5 price percentage gainers list with 8.51%, 7.84% and 7.73% respectively.

Meanwhile, Mobil led the decliners’ log with 9.97% to close at N173.40 from N192.60. Chams came next with 8.33% to round up trade at N0.22 from N0.24. Eternal Oil, Wapic and Transcorp completed the list with 6.70%, 5.71% and 4.62% respectively.

Over the Counter Market Index and Capitalisation both added 0.44% each, thus, each rounded up at point 710.89 and N522.19 billion respectively. There is no loser through today’s trade while CSCS and Wampco gained 2.88% and 0.25% to close at N13.90 and N121.30 from N13.50 and N121.00 respectively.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 42.27$/bbl, this is 224Bpts below the previous close price.

The I&E FX Window opened at N387.46 traded as high as N391.49 before rounding up at N386.00, having transacted a total of $36.28 million through the day. Please note that, margin between the close and open value is 26Bpts down. 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 11.17%, same as 2.93% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 10.33% that is 3.47% below 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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