FeaturedMarket Update

Negative Sentiments Persists As Nigerian Stock Market Gives Up 127Bpts

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer NSEASI gave up 127Bpts and closed at 24,026.05 from 24,336.12. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 127Bpts below opening, while the total lost points in the month of July is now 185Bpts. see the index movements table for details.

It was a tensed trading session on the floor of the Nigerian Stock Exchange today. Traders were observed taking shield against possible negative reactions to half year earnings, by re-adjusting their respective portfolios. Although the federal government seems to be taking preventive measures against the backdrop of the partial lockdown and its effect on both individuals and organisations at large; in our opinion, the moves will not safe the damages already done to various listed equities performances in the past three months. Further damaging confidence towards the market are several negative projections from World Bank, Fitch and the likes. We therefore strictly recommend that traders tread with utmost cautiousness.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N161.746 billion, same as 127Bpts below the opening value. Meanwhile, trading activities for the day produced 14 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 1,049Bpts while the Market Capitalization Year to Date loss stood at N424.969 billion same as 328Bpts below the year’s opening value.

Cornerstone Insurance and Nahco led the gainers log with 10.00% each as they respectively rounded up at N0.55 and N2.20 from N0.50 and N2.00. Zenith Bank followed with 5.25% gain to close at N16.05 from N15.25. Flour Mills and Regency Alliance completed the top 5 price percentage gainers list with 5.11% and 4.76% respectively.

Meanwhile, Beta Glass led the losers list with 9.95% loss, as it ended at N61.55 from N68.35. Julius Berger followed with 9.81% loss and closed the day’s trade at N16.55 from N18.35. Livestock Feeds lost 9.68% while Prestige Assurance and Unity bank completed the top 5 price percentage losers log with 9.62% each.

Over the Counter Market Index and Capitalisation both closed on a flat note, thus, they both rounded up at point 716.96 and N526.65 billion respectively. All traded equities closed the day’s trade on a flat note.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.13$/bbl, this is 77Bpts above the previous close price.

The I&E FX Window opened at N387.00 traded as high as N391.45 before rounding up at N386.50, having transacted a total of $10.15 million through the day. Please note that, margin between the close and open value is 13Bpts 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 21.00%, same as 2.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 19.60% that is 1.90% 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

Negative Sentiments Persists As Nigerian Stock Market Gives Up 127Bpts

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer NSEASI gave up 127Bpts and closed at 24,026.05 from 24,336.12. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 127Bpts below opening, while the total lost points in the month of July is now 185Bpts. see the index movements table for details.

It was a tensed trading session on the floor of the Nigerian Stock Exchange today. Traders were observed taking shield against possible negative reactions to half year earnings, by re-adjusting their respective portfolios. Although the federal government seems to be taking preventive measures against the backdrop of the partial lockdown and its effect on both individuals and organisations at large; in our opinion, the moves will not safe the damages already done to various listed equities performances in the past three months. Further damaging confidence towards the market are several negative projections from World Bank, Fitch and the likes. We therefore strictly recommend that traders tread with utmost cautiousness.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N161.746 billion, same as 127Bpts below the opening value. Meanwhile, trading activities for the day produced 14 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 1,049Bpts while the Market Capitalization Year to Date loss stood at N424.969 billion same as 328Bpts below the year’s opening value.

Cornerstone Insurance and Nahco led the gainers log with 10.00% each as they respectively rounded up at N0.55 and N2.20 from N0.50 and N2.00. Zenith Bank followed with 5.25% gain to close at N16.05 from N15.25. Flour Mills and Regency Alliance completed the top 5 price percentage gainers list with 5.11% and 4.76% respectively.

Meanwhile, Beta Glass led the losers list with 9.95% loss, as it ended at N61.55 from N68.35. Julius Berger followed with 9.81% loss and closed the day’s trade at N16.55 from N18.35. Livestock Feeds lost 9.68% while Prestige Assurance and Unity bank completed the top 5 price percentage losers log with 9.62% each.

Over the Counter Market Index and Capitalisation both closed on a flat note, thus, they both rounded up at point 716.96 and N526.65 billion respectively. All traded equities closed the day’s trade on a flat note.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.13$/bbl, this is 77Bpts above the previous close price.

The I&E FX Window opened at N387.00 traded as high as N391.45 before rounding up at N386.50, having transacted a total of $10.15 million through the day. Please note that, margin between the close and open value is 13Bpts 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 21.00%, same as 2.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 19.60% that is 1.90% 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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