FeaturedMarket Update

Lost Grounds Recovered as NSEASI Adds 38Bpts

Recovering lost grounds, equities trading on the floor of The Nigerian Stock Exchange closed in the positive territory, as the lead performance pointer-NSEASI added 38Bpts to its trading points and closed at 25,520.97 from 25,424.91.  Safe NSE-Insurance and NSE-Oil& Gas Index that shed points, other observed market indices closed above their respective opening points. Thus, Week to Date, the lead index is 33Bpts below opening, while the total gained points in the month of September is now 77Bpts. See the index movement table for details.

The half year earnings season had finally ended, having received the financial performance indexes of all major listed equities with December financial year end. Short term Trading point is the closure dates for both interim and final cash dividend recently announced; meanwhile, in the long term, (at least before the commencement of the third quarter earnings season) performances of economic indicators will contribute majorly to performances, while positioning against the third quarter numbers will grow stronger towards the end of September. On the strength of these, we recommend that traders tread cautiously around the market arena.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N50.115 billion, same as 38Bpts above the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 492Bpts while the Market Capitalization Year to Date gain stood at N355.545 billion same as 274Bpts above the year’s opening value.

Leading on the gainers’ log is Eterna Oil that added 9.69% and closed at N2.49 from N2.27. CILeasing followed on the log with 8.45% gain, thus, it rounded up trade at N3.85 from N3.55. WemaBank, Japaul Oil and Chams completed the top 5 price percentage gainers’ list with 7.84%, 5.00% and 4.76% respectively.

On the flip side, ABC-Transport led with 7.69% loss that closed its price at N0.36 from N0.39. Cornerstone Insurance followed on the log with 7.58% as it rounded up trade at N0.61 from N0.66. CHI PLC, Unity Bank and FCMB completed the top 5 price percentage losers’ log with 5.88%, 5.56% and 4.87% respectively.

Over the Counter Market Index and Capitalisation both closed in the red as they both lost 1.04% each, thus they closed at point 714.44 and N524.81 billion respectively. Today’s performance produced one advancer and one decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 40.21$/bbl, this is 142Bpts below the previous close price.

The I&E FX Window opened at N386.57 traded as high as N394.13 before rounding up at N386.17, having transacted a total of $30.80million through the day. Please note that, margin between the close and open value is 4Bpts up. 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 as 10th September, 2020 closed at 2.20%, same as 0.18% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 10th September, 2020 ended at 1.40% that is 0.10% 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

Lost Grounds Recovered as NSEASI Adds 38Bpts

Recovering lost grounds, equities trading on the floor of The Nigerian Stock Exchange closed in the positive territory, as the lead performance pointer-NSEASI added 38Bpts to its trading points and closed at 25,520.97 from 25,424.91.  Safe NSE-Insurance and NSE-Oil& Gas Index that shed points, other observed market indices closed above their respective opening points. Thus, Week to Date, the lead index is 33Bpts below opening, while the total gained points in the month of September is now 77Bpts. See the index movement table for details.

The half year earnings season had finally ended, having received the financial performance indexes of all major listed equities with December financial year end. Short term Trading point is the closure dates for both interim and final cash dividend recently announced; meanwhile, in the long term, (at least before the commencement of the third quarter earnings season) performances of economic indicators will contribute majorly to performances, while positioning against the third quarter numbers will grow stronger towards the end of September. On the strength of these, we recommend that traders tread cautiously around the market arena.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N50.115 billion, same as 38Bpts above the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 492Bpts while the Market Capitalization Year to Date gain stood at N355.545 billion same as 274Bpts above the year’s opening value.

Leading on the gainers’ log is Eterna Oil that added 9.69% and closed at N2.49 from N2.27. CILeasing followed on the log with 8.45% gain, thus, it rounded up trade at N3.85 from N3.55. WemaBank, Japaul Oil and Chams completed the top 5 price percentage gainers’ list with 7.84%, 5.00% and 4.76% respectively.

On the flip side, ABC-Transport led with 7.69% loss that closed its price at N0.36 from N0.39. Cornerstone Insurance followed on the log with 7.58% as it rounded up trade at N0.61 from N0.66. CHI PLC, Unity Bank and FCMB completed the top 5 price percentage losers’ log with 5.88%, 5.56% and 4.87% respectively.

Over the Counter Market Index and Capitalisation both closed in the red as they both lost 1.04% each, thus they closed at point 714.44 and N524.81 billion respectively. Today’s performance produced one advancer and one decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 40.21$/bbl, this is 142Bpts below the previous close price.

The I&E FX Window opened at N386.57 traded as high as N394.13 before rounding up at N386.17, having transacted a total of $30.80million through the day. Please note that, margin between the close and open value is 4Bpts up. 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 as 10th September, 2020 closed at 2.20%, same as 0.18% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 10th September, 2020 ended at 1.40% that is 0.10% 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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