FeaturedMarket Update

Mixed Earnings Numbers, NSEASI Builds Further North, Adds 31Bpts

For the second time within the week, equities trading on the floor of The Nigerian Stock Exchange ended in the green, as the lead performance pointer, NSEASI added 31Bpts to its trading points and closed at 24,841.94 from 24,766.12. Safe NSE-LotusII and NSE-Industrial Good that index shed points, other observed market indices in this report gained. Thus Week to Date, activities index is 60Bpts above the opening while the total gained points in the month of August is now 60Bpts. See the index movement table for details.

Market excitement is majorly due to mixed performance from posted by various listed equities especially those with December year end. Recall that we consistently informed our readers, that, the half year earnings season will determine the general market trend in the month of August, this had been the situation in the past trading days. Please note that more financials are expected from few listed equities with interim dividend policy; such as, Guaranty Trust, Access Bank, UBA, Zenith and Stanbic IBTC. We strictly recommend a careful tread around the market arena.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N39.551 billion, same as 31Bpts above the opening value. Meanwhile, trading activities for the day produced 23 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 745Bpts while the Market Capitalization Year to Date gain stood at N645.260 billion same as 0Bpts above the year’s opening value.

Leading on the gainers’ log is Mansard with 9.72% gain that closed its price at N1.58 from N1.44. UACN followed in the log with 8.73% gain, thus it rounded up trade at N6.85 from N6.30. Jaizbank, NPFMCRFBK and MBenefit completed the top 5 price percentage gainers’ log with 7.27%, 5.88% and 4.76% respectively.

On the flip side, CAP Plc led with 9.94% gain, thus it rounded up trade at N15.40 from N17.10. Total Oil followed with 9.91% to close at N79.10 from N87.80. Ardova, Unilever and GlaxoSmith completed the top 5 price percentage losers’ log with 9.67%, 8.57% and 8.49% respectively.

Over the Counter Market Index and Capitalisation both ended in the green, having gained 0.88% each to close at point 705.48 and N518.22 billion respectively. Today’s performance produced one advancer and no decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 44.32$/bbl, this is 11Bpts below the previous close price.

The I&E FX Window opened at N388.46 traded as high as N392.50 before rounding up at N389.00, having transacted a total of $24.66 million through the day. Please note that, margin between the close and open value is 26Bpts 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 closed at 10.08%, same as 4.25% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 9.00% that is 4.30% 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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