FeaturedMarket Update

Last Minutes Rally; NSEASI Gains 210Bpts, Hits New Highest High

Soaring further to the year’s highest high point, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 210Bpts to its trading points and closed at 36,239.62 from 35,493.15. All observed market indices in this report gained Thus, Week to Date, lead activities index is 581Bpts above opening while the total gained points in the month of December is now 342Bpts. See the index movement table for details.

For the fourth consecutive time within the week, the market maintained the positive line in continuation of the bullish run. After today’s move, NSEASI recorded a new high for the year, this is in line with our expectations yesterday. 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 N390.181 billion, same as 210Bpts above the opening value. Meanwhile, trading activities for the day produced 30 ADVANCERS and 17 LAGERS. NSEASI Year to Date gain is now 3,501Bpts while the Market Capitalization Year to Date gain stood at N5.982 trillion same as 4,617Bpts above the year’s opening value.

Leading on the advancers’ log is Airtel Africa that gained 10.00% to close at N774.40 from N704.00. Ardova followed with 9.96% gain, as it rounded up today’s trade at N13.25 from N12.05. FTNCocoa, Unilever and Mansard completed the top 5 price percentage gainers’ log with 9.62%, 9.54% and 9.09% respectively.

On the flip Omatek and Wapic led with 9.09% loss each as they rounded up the day’s trade at N0.20 and N0.40 from N0.22 and N0.44 respectively. Champion Breweries followed on the log with 8.99% loss while University Press and Union Diangnostic completed the top 5 price percentage gainers with 7.25% and 6.90% respectively.

Over the Counter Market Index and Capitalisation ended the day in the red, loosing 1.29% each thus, each rounded up at 716.50 and N532.57 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 51.37$/bbl, this is 25Bpts below the previous close price.

The I&E FX Window opened at N391.78 traded as high as N407.25 before rounding up at N394.00, having transacted a total of $219.60 million through the day. Please note that, margin between the close and open value is 17Bpts 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 1.25%, same as 0.33% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 1.00% that is 0.33% above the previous close. Safe Trade.

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