FeaturedMarket Update

Its Green Ending on Nigerian Stock Market Floor, as NSEASI Adds 173Bpts

Starting off the new week, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 173Bpts to its trading points and closed at 34,843.44 from 34,250.74. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, lead activities index is 173Bpts above opening while the total lost points in the month of December is now 57Bpts. See the index movement table for details.

Supported by good numbers of equities that closed the day above their respective opening points, Airtel Africa & MTNN inclusive, market posted a huge gain that almost swallowed all the lost points in the prior week. This should restore confidence back to the market after the unexpected losses seen last week. We maintained that economic fundamental changes will sharply affect market trend in the absence of earnings numbers. Please not also that, Santa Clause ride and the yearend bookings are two other major seasons expected to support recovery in the current month, on this strength, we reiterate that traders should cautiously ply the market at the moment.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N309.781 billion, same as 173Bpts above the opening value. Meanwhile, trading activities for the day produced 26 ADVANCERS and 14 LAGERS. NSEASI Year to Date gain is now 2,981Bpts while the Market Capitalization Year to Date gain stood at N5.252 trillion same as 4,054Bpts above the year’s opening value.

Leading on the advancers’ log is Airtel Africa that gained 10.00% to close at N704.00 from N640.00. Royal Exchange followed with 9.52% gain, as it rounded up today’s trade at N0.23 from N0.21 AIICO, FTNCocoa, and Neimeth completed the top 5 price percentage gainers’ log with 9.52%, 9.09% and 9.09% respectively.

On the flip side Prestige led with 10.00% loss that closed its price at N0.45 from N0.50. International Breweries followed on the log with 9.89% to close at N6.47 from N7.18. Cutix, Nascon and Jaiz Bank completed the top 5 price percentage gainers log with 9.47%, 9.38% and 8.82% respectively.

Over the Counter Market Index and Capitalisation ended in the red by 0.23% each, thus, rounded up at 732.07 and N544.14 billion respectively. Today’s performance produced zero (0) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 50.32$/bbl, this is 70Bpts above the previous close price.

The I&E FX Window opened at N392.55 traded as high as N408.34 before rounding up at N394.00, having transacted a total of $108.40 million through the day. Please note that, margin between the close and open value is 0Bpts 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 1.08%, same as 0.21% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.67% that is 0.17% above the previous close. Safe Trade.

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