FeaturedMarket Update

Low Half Year Earnings Performance Further Strengthen the Bear against the Market: 25/07/19

Further reversing previous gained points, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the Lead performance index NSEASI gave up 35Bpts of its trading points and closed at 27,990.61 from 28,088.74. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is in the green by 25Bpts, while a total of 659Bpts had been lost in the current months. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N47.823 billion, same as 35Bpts below the opening value.  Meanwhile, trading activities for the day produced 18 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 1,094Bpts while the Market Capitalization Year to Date gain stood at N1.920 trillion same as 1,639Bpts above the year’s opening value.

Against the positive move posted three days prior, traders are clearly trading against the bull. Recall that we said the positive move posted by the lead index on Tuesday 23rd July is mainly enhanced by gains on few listed equities and that the probability of sustaining such move is slim. Further frustrating market recovery attempts are low performances seen in the few half year result released so far. Despite this, we maintained that investors should consider listed equities with consistent half year dividend history.

As at the time this report was gathered, Brent Crude sells at 63.29$/bbl, this is 21Bpts above the previous close price.

The I&E FX Window opened at N361.30 traded as high as N362.50 before rounding up at N361.91, having transacted a total of $173.48 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts gain. 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 15.00%, same as 1.43% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.29%, that is, 1.57% 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

Low Half Year Earnings Performance Further Strengthen the Bear against the Market: 25/07/19

Further reversing previous gained points, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the Lead performance index NSEASI gave up 35Bpts of its trading points and closed at 27,990.61 from 28,088.74. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is in the green by 25Bpts, while a total of 659Bpts had been lost in the current months. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N47.823 billion, same as 35Bpts below the opening value.  Meanwhile, trading activities for the day produced 18 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 1,094Bpts while the Market Capitalization Year to Date gain stood at N1.920 trillion same as 1,639Bpts above the year’s opening value.

Against the positive move posted three days prior, traders are clearly trading against the bull. Recall that we said the positive move posted by the lead index on Tuesday 23rd July is mainly enhanced by gains on few listed equities and that the probability of sustaining such move is slim. Further frustrating market recovery attempts are low performances seen in the few half year result released so far. Despite this, we maintained that investors should consider listed equities with consistent half year dividend history.

As at the time this report was gathered, Brent Crude sells at 63.29$/bbl, this is 21Bpts above the previous close price.

The I&E FX Window opened at N361.30 traded as high as N362.50 before rounding up at N361.91, having transacted a total of $173.48 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts gain. 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 15.00%, same as 1.43% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.29%, that is, 1.57% 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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