FeaturedMarket Update

Lead Index-NSEASI Maintained Positive Side Despite Few Active Equities: 29/10/18

Consolidating the last trading day’s move, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 88Bpts to its trading point, thereby closing at 33,196.07 from 32,907.33. It was a mixed performance amongst the observed market indices as three of the sub-sector indices shed points while others gained. The total gained points within the month of October is now 131Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N105.414 billion, same as 88Bpts above the opening value.  Meanwhile, trading activities for the day produced 17 advancers and 17 lagers. NSEASI Year to Date loss is now 13.20% while the Market Capitalization Year to Date loss stood at N1.490 trillion same as 10.95% below the year’s opening value.

As the earnings season continues flow into the market, traders now have several valid reasons trade. We perceived that good numbers of traders have not only streamlined equities in their respective trading baskets by earnings qualities, but have also zeroed in to holding portfolios till next year, at least till the end of the upcoming national election. On the strength of these facts, we reiterate that investors should carefully screen earnings figures for timely positions towards the full year incentives. It should equally be noted that most listed equities are quite attractive at the moment, due to the prolonged bear stay around the market arena in recent times.

As at the time we compiled this report, Brent Crude trades at $76.81/bbl having dropped 0.81% from the last close price.

At the interbank rate today, the Naira closed at N306.60, against the USDollar representing 2Bpts depreciation.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.85 traded as high as N364.50 before rounding up at N363.58, having transacted a total of $51.14 million through the day. Please note that, margin between the close and open value is an equivalent of 7Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 15.50%, same as 4.80% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.83%, that is, 4.50% 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

Lead Index-NSEASI Maintained Positive Side Despite Few Active Equities: 29/10/18

Consolidating the last trading day’s move, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 88Bpts to its trading point, thereby closing at 33,196.07 from 32,907.33. It was a mixed performance amongst the observed market indices as three of the sub-sector indices shed points while others gained. The total gained points within the month of October is now 131Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N105.414 billion, same as 88Bpts above the opening value.  Meanwhile, trading activities for the day produced 17 advancers and 17 lagers. NSEASI Year to Date loss is now 13.20% while the Market Capitalization Year to Date loss stood at N1.490 trillion same as 10.95% below the year’s opening value.

As the earnings season continues flow into the market, traders now have several valid reasons trade. We perceived that good numbers of traders have not only streamlined equities in their respective trading baskets by earnings qualities, but have also zeroed in to holding portfolios till next year, at least till the end of the upcoming national election. On the strength of these facts, we reiterate that investors should carefully screen earnings figures for timely positions towards the full year incentives. It should equally be noted that most listed equities are quite attractive at the moment, due to the prolonged bear stay around the market arena in recent times.

As at the time we compiled this report, Brent Crude trades at $76.81/bbl having dropped 0.81% from the last close price.

At the interbank rate today, the Naira closed at N306.60, against the USDollar representing 2Bpts depreciation.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.85 traded as high as N364.50 before rounding up at N363.58, having transacted a total of $51.14 million through the day. Please note that, margin between the close and open value is an equivalent of 7Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 15.50%, same as 4.80% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.83%, that is, 4.50% 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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