FeaturedMarket Update

Lagers’ Log Crash as NSEASI Posts Quick Recovery from Profit Takers’ Pressure

In a quick recovery from profit taking activities pressure, equities trading on the floor of the Nigerian Stock Exchange rounded up in the positive territory. As the lead index-NSEASI added 66Bpts and closed at 22,780.30 from 22,629.92. Safe NSE-Industrial Goods that shed points, other observed market indices in this report gained. Thus, Week to Date, lead index is 62Bpts below opening while the total gained points in the month of April adjusted to 695Bpts. See the index movement table for details.

Undoubtedly, traders are already taking profit over the few gains recorded by the market. In our opinion, this is typical of a recovering market and should not result to panic in any way; rather, traders who missed out in the recovery moves are expected to take advantage of the pullback and join the market accordingly. We are of the opinion that, market may be enjoying some fund inflows, as traders take positions against the expected boom at the end of COVID-19 pandemic. Although we proposed a cautious play around the market, we reiterate that panicking off the market is not an intelligent investment option at the moment.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N78.373 million, same as 66Bpts above the opening value. Meanwhile, trading activities for the day produced 19 ADVANCERS and 04 LAGERS. NSEASI Year to Date loss is now 1,513Bpts while the Market Capitalization Year to Date loss stood at N1.086 trillion same as 838Bpts below the year’s opening value.

Nem Assurance led that advancers’ log with 10.00% gain as it closed at N2.20 from N2.00. Wapco followed with 9.66% to close at N11.35 from N10.35. Livestock Feeds, Transcorp and Pz-Cussons completed the top 5 price percentage gainers with 7.69%, 7.35% and 6.25% respectively.

On the other hand, SKYAVN led the four decliners with 8.16% to close at N1.80 from N1.96, UnionDac followed with 6.45% as it rounded up at N0.29 from N0.31. Guinness and Caverton completed the list with 6.40% and 4.26% respectively.

As at the time this report was gathered, Brent Crude sells at 14.75$/bbl, this is 2,936Bpts below the previous close price.

The I&E FX Window opened at N385.07 traded as high as N401.00 before rounding up at N383.00, having transacted a total of $53.21 million through the day. Please note that, margin between the close and open value is 52Bpts 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 2.10%, same as 0.53% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 1.80% that is 0.20% 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

Lagers’ Log Crash as NSEASI Posts Quick Recovery from Profit Takers’ Pressure

In a quick recovery from profit taking activities pressure, equities trading on the floor of the Nigerian Stock Exchange rounded up in the positive territory. As the lead index-NSEASI added 66Bpts and closed at 22,780.30 from 22,629.92. Safe NSE-Industrial Goods that shed points, other observed market indices in this report gained. Thus, Week to Date, lead index is 62Bpts below opening while the total gained points in the month of April adjusted to 695Bpts. See the index movement table for details.

Undoubtedly, traders are already taking profit over the few gains recorded by the market. In our opinion, this is typical of a recovering market and should not result to panic in any way; rather, traders who missed out in the recovery moves are expected to take advantage of the pullback and join the market accordingly. We are of the opinion that, market may be enjoying some fund inflows, as traders take positions against the expected boom at the end of COVID-19 pandemic. Although we proposed a cautious play around the market, we reiterate that panicking off the market is not an intelligent investment option at the moment.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N78.373 million, same as 66Bpts above the opening value. Meanwhile, trading activities for the day produced 19 ADVANCERS and 04 LAGERS. NSEASI Year to Date loss is now 1,513Bpts while the Market Capitalization Year to Date loss stood at N1.086 trillion same as 838Bpts below the year’s opening value.

Nem Assurance led that advancers’ log with 10.00% gain as it closed at N2.20 from N2.00. Wapco followed with 9.66% to close at N11.35 from N10.35. Livestock Feeds, Transcorp and Pz-Cussons completed the top 5 price percentage gainers with 7.69%, 7.35% and 6.25% respectively.

On the other hand, SKYAVN led the four decliners with 8.16% to close at N1.80 from N1.96, UnionDac followed with 6.45% as it rounded up at N0.29 from N0.31. Guinness and Caverton completed the list with 6.40% and 4.26% respectively.

As at the time this report was gathered, Brent Crude sells at 14.75$/bbl, this is 2,936Bpts below the previous close price.

The I&E FX Window opened at N385.07 traded as high as N401.00 before rounding up at N383.00, having transacted a total of $53.21 million through the day. Please note that, margin between the close and open value is 52Bpts 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 2.10%, same as 0.53% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 1.80% that is 0.20% 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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