FeaturedMarket Update

NGXASI Bows to Brief Profit Taking Activities; Just As H1 Earnings Season Commences

 

Switching to a brief profit taking session, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 12Bpt of its trading points, and closed at 38,802.15 from 38,849.08. It was a mixed performance amongst the observed market indices, as shown in the index movement table. Thus, WtD, the lead index is 35Bpts above opening, while the total gained points in the month of July is now 236Bpts. See the index movement table for details.

Fundamental View

As expected, the 280th Monetary Policy Committee Meeting ended with all rates left at status-quo, but against this move, the committee announced that it will stop supplying the Bureau de Change (BDC) Fx as usual, this move according to the committee is due to the depleting nation’s reserve, and the frustrating attitudes of the BDC operators. Although the CBN will no longer supply Fx to BDC, it permitted operators to source Fx, while playing strictly by the anti-laundry rules and regulations of the country. By these moves, the commercial banks will take back its role in supplying Fx to approved international transactions/payments. In our opinion, this is a welcome development. Meanwhile, in the equities market, short profit taking activities set in today, slashing off N24.453 billion from the market capitalisation of listed equities’ value, we are of the opinion that, this move will not last long, as expected earnings will boost performance.

Technical View

As expected, the 280th Monetary Policy Committee Meeting ended with all rates left at status-quo, but against this move, the committee announced that it will stop supplying the Bureau de Change (BDC) Fx as usual; this move according to the committee is due to the depleting nation’s reserve, and the frustrating attitudes of the BDC operators. Although the CBN will no longer supply Fx to BDC, it permitted operators to source Fx, while playing strictly by the anti-laundry rules and regulations of the country. By these moves, the commercial banks will take back its role in supplying Fx to approved international transactions/payments. In our opinion, this is a welcome development.

Meanwhile, in the equities market, short profit taking activities set in today, slashing off N24.453 billion from the market capitalisation of listed equities’ value, we are of the opinion that, this move will not last long, as expected earnings will boost performance.

Index Movement

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N24.453 billion, same as 12Bpts below the opening value. Meanwhile, trading activities for the day produced 20 ADVANCERS and 20 LAGERS. NSEASI Year to Date loss is now 365Bpts while the Market Capitalization Year to Date loss stood at N840.276 million same as 399Bpts below the year’s opening value.

Gainers & Losers

Leading on the advancers’ log is Oando with 9.86% gain above its previous close point, thus it rounded up at N4.79 from N4.36. Champion Breweries followed with 9.00% gain to round up trade at N2.30 from N2.11. FTN-Cocoa, Fidson and Livestock completed the top 5 price percentage gainers log with 8.89%, 6.73% and 6.02% respectively.

On the flip side UPDC-REIT led with 6.67% loss, as it rounded up trade at N5.60 from N6.00. Unity Bank followed with 6.45% loss to close at N0.58 from N0.62. NPF-Micro Finance, UPDC and Chams completed the top 5 price percentage losers’ log with 5.29%, 5.19% and 4.76% respectively.

Top Performers

Top 5 Trades

Investors did a total of 243 deals on the shares of Zenith Bank, while a total of 216 transactions were made on GTCO shares through today’s trading session. Access Bank was next on the top 5 list with 209 transactions, while Livestock Feeds and UBA completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 21.76 million units of Accesss Bank through the day’s trade. Wema Bank followed on the most traded by volume with 21.29 million shares. UPDC, UACN, and UBA completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on MTNN (N220.39 million) was the highest for the day, followed by GTCO where investors exchange N213.49 million worth of shares. Access Bank, Zenith Bank and UACN completed the list as shown in the above table.

NASD OTC BRIEF

Over the Counter (OTC) Market Index ended in the green by adding 0.18% to close the day’s trade at 754.85, while the market Capitalisation equally rounded up in the positive territory as gained 0.18%  and close at 656.09 billion. Today’s performance produced one (1) advancer, and two (2) decliners. Kindly view today’s price list Here.

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 74.89$/bbl, this is 41Bpts above the last close price.

FMDQ OTC BRIEF

The I&E FX Window opened at N411.42 traded as high as N412.95 before rounding up at N411.67, having transacted a total of $115.67 million 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 closed at 16.25%, same as 0.50% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 15.75% that is 0.75% above the previous close. Safe Trade.

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FeaturedMarket Update

NGXASI Bows to Brief Profit Taking Activities; Just As H1 Earnings Season Commences

 

Switching to a brief profit taking session, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 12Bpt of its trading points, and closed at 38,802.15 from 38,849.08. It was a mixed performance amongst the observed market indices, as shown in the index movement table. Thus, WtD, the lead index is 35Bpts above opening, while the total gained points in the month of July is now 236Bpts. See the index movement table for details.

Fundamental View

As expected, the 280th Monetary Policy Committee Meeting ended with all rates left at status-quo, but against this move, the committee announced that it will stop supplying the Bureau de Change (BDC) Fx as usual, this move according to the committee is due to the depleting nation’s reserve, and the frustrating attitudes of the BDC operators. Although the CBN will no longer supply Fx to BDC, it permitted operators to source Fx, while playing strictly by the anti-laundry rules and regulations of the country. By these moves, the commercial banks will take back its role in supplying Fx to approved international transactions/payments. In our opinion, this is a welcome development. Meanwhile, in the equities market, short profit taking activities set in today, slashing off N24.453 billion from the market capitalisation of listed equities’ value, we are of the opinion that, this move will not last long, as expected earnings will boost performance.

Technical View

As expected, the 280th Monetary Policy Committee Meeting ended with all rates left at status-quo, but against this move, the committee announced that it will stop supplying the Bureau de Change (BDC) Fx as usual; this move according to the committee is due to the depleting nation’s reserve, and the frustrating attitudes of the BDC operators. Although the CBN will no longer supply Fx to BDC, it permitted operators to source Fx, while playing strictly by the anti-laundry rules and regulations of the country. By these moves, the commercial banks will take back its role in supplying Fx to approved international transactions/payments. In our opinion, this is a welcome development.

Meanwhile, in the equities market, short profit taking activities set in today, slashing off N24.453 billion from the market capitalisation of listed equities’ value, we are of the opinion that, this move will not last long, as expected earnings will boost performance.

Index Movement

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N24.453 billion, same as 12Bpts below the opening value. Meanwhile, trading activities for the day produced 20 ADVANCERS and 20 LAGERS. NSEASI Year to Date loss is now 365Bpts while the Market Capitalization Year to Date loss stood at N840.276 million same as 399Bpts below the year’s opening value.

Gainers & Losers

Leading on the advancers’ log is Oando with 9.86% gain above its previous close point, thus it rounded up at N4.79 from N4.36. Champion Breweries followed with 9.00% gain to round up trade at N2.30 from N2.11. FTN-Cocoa, Fidson and Livestock completed the top 5 price percentage gainers log with 8.89%, 6.73% and 6.02% respectively.

On the flip side UPDC-REIT led with 6.67% loss, as it rounded up trade at N5.60 from N6.00. Unity Bank followed with 6.45% loss to close at N0.58 from N0.62. NPF-Micro Finance, UPDC and Chams completed the top 5 price percentage losers’ log with 5.29%, 5.19% and 4.76% respectively.

Top Performers

Top 5 Trades

Investors did a total of 243 deals on the shares of Zenith Bank, while a total of 216 transactions were made on GTCO shares through today’s trading session. Access Bank was next on the top 5 list with 209 transactions, while Livestock Feeds and UBA completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 21.76 million units of Accesss Bank through the day’s trade. Wema Bank followed on the most traded by volume with 21.29 million shares. UPDC, UACN, and UBA completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on MTNN (N220.39 million) was the highest for the day, followed by GTCO where investors exchange N213.49 million worth of shares. Access Bank, Zenith Bank and UACN completed the list as shown in the above table.

NASD OTC BRIEF

Over the Counter (OTC) Market Index ended in the green by adding 0.18% to close the day’s trade at 754.85, while the market Capitalisation equally rounded up in the positive territory as gained 0.18%  and close at 656.09 billion. Today’s performance produced one (1) advancer, and two (2) decliners. Kindly view today’s price list Here.

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 74.89$/bbl, this is 41Bpts above the last close price.

FMDQ OTC BRIEF

The I&E FX Window opened at N411.42 traded as high as N412.95 before rounding up at N411.67, having transacted a total of $115.67 million 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 closed at 16.25%, same as 0.50% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 15.75% that is 0.75% above the previous close. Safe Trade.

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