FeaturedMarket Update

More Attractive Prices, as Nigerian Equities Market Lingers with the Bears

Listed equities now sell at relatively attractive prices, as bearish sentiments continued on the floor of The Nigerian Stock Exchange. At the end of today’s trade, the lead performance pointer-NSEASI gave up 62Bpts of its trading points and closed at 26,808.24 from 26,974.38. All observed market indices in this report closed below their respective opening points. Thus, Week to Date, the lead index is 212Bpts below opening while the total lost points in the month of February is now 706Bpts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N86.554 billion, same as 62Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 13Bpts while the Market Capitalization Year to Date gain stood at N1.007 trillion same as 778Bpts above the year’s opening value.

The gainers’ list was led by Jaizbank with 9.43% gain as it closed at N0.58 from N0.53. Law Union followed with 7.95% to close at N0.95 from N0.88. Completing the top five price percentage gainers are; NAHCO (7.04%), May&Baker (4.81%) and AIICO (3.66%).

Meanwhile, the decliners’ log was led by Flour Millis with 8.70% loss as it rounded up trade at N21.00 from N23.00. CHIPLC followed on the log with 6.90% to close at N0.27 from N0.29. Completing the top 5 price percentage losers’ log are; NPFMCRFBK (6.25%), Stanbic IBTC (6.23%) and Oando (5.66%).

Bearish sentiments persisted on the floor of the exchange as the lead index trading point dipped further below 27,000 point; this is despite positive earnings released by listed equities such as African Prudential, UCAP, Zenith Bank and Dangote Cement. In our opinion, this is due to the long closure dates of most dividends announced so far, we are of the opinion that most investors will react towards their respective closure dates. Please note that, towards the close of business today, the management of Dangote Cement released its financial statistics for the year ended 31st December, 2019. In the result, it proposed a N16.00 final cash dividend; the closure date is 26th May, 2020, that is qualification date is 25th May while the payment date is 16th June, 2020.

As at the time this report was gathered, Brent Crude sells at 51.96$/bbl, this is 147Bpts below the previous close price.

The I&E FX Window opened at N365.27 traded as high as N366.25 before rounding up at N365.22, having transacted a total of $377.72 million through the day. Please note that, margin between the close and open value is 8Bpts 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 2.50%, same as 0.40% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.00% that is 0.40% 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

More Attractive Prices, as Nigerian Equities Market Lingers with the Bears

Listed equities now sell at relatively attractive prices, as bearish sentiments continued on the floor of The Nigerian Stock Exchange. At the end of today’s trade, the lead performance pointer-NSEASI gave up 62Bpts of its trading points and closed at 26,808.24 from 26,974.38. All observed market indices in this report closed below their respective opening points. Thus, Week to Date, the lead index is 212Bpts below opening while the total lost points in the month of February is now 706Bpts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N86.554 billion, same as 62Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 13Bpts while the Market Capitalization Year to Date gain stood at N1.007 trillion same as 778Bpts above the year’s opening value.

The gainers’ list was led by Jaizbank with 9.43% gain as it closed at N0.58 from N0.53. Law Union followed with 7.95% to close at N0.95 from N0.88. Completing the top five price percentage gainers are; NAHCO (7.04%), May&Baker (4.81%) and AIICO (3.66%).

Meanwhile, the decliners’ log was led by Flour Millis with 8.70% loss as it rounded up trade at N21.00 from N23.00. CHIPLC followed on the log with 6.90% to close at N0.27 from N0.29. Completing the top 5 price percentage losers’ log are; NPFMCRFBK (6.25%), Stanbic IBTC (6.23%) and Oando (5.66%).

Bearish sentiments persisted on the floor of the exchange as the lead index trading point dipped further below 27,000 point; this is despite positive earnings released by listed equities such as African Prudential, UCAP, Zenith Bank and Dangote Cement. In our opinion, this is due to the long closure dates of most dividends announced so far, we are of the opinion that most investors will react towards their respective closure dates. Please note that, towards the close of business today, the management of Dangote Cement released its financial statistics for the year ended 31st December, 2019. In the result, it proposed a N16.00 final cash dividend; the closure date is 26th May, 2020, that is qualification date is 25th May while the payment date is 16th June, 2020.

As at the time this report was gathered, Brent Crude sells at 51.96$/bbl, this is 147Bpts below the previous close price.

The I&E FX Window opened at N365.27 traded as high as N366.25 before rounding up at N365.22, having transacted a total of $377.72 million through the day. Please note that, margin between the close and open value is 8Bpts 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 2.50%, same as 0.40% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.00% that is 0.40% 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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