Starting up the new week, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 40Bpts of its trading points, and closed at 39,326.67 from 39,485.65. Safe NSE-Consumer Goods and NSE-Insurance Indexes that gained; all observed market indices in this report ended in the negative path. Thus, WtD, the lead index is 40Bpts below opening, while the total gained points in the month of August is now 202Bpts. See the index movement table for details.
Fundamental View
As the month of August runs to a close, sentiments around the market remained mixed. A scan through the gainers & losers log, revealed that price loss on the share price of Dangcem strengthened the bear through today’s trading session.
Meanwhile, the most awaited economic numbers in the month of August finally came out positive, recall that we consistently noted that July Headline Inflation figure and the half year GDP numbers will lead among other market fundamentals through August, good enough, the two economic numbers were positive. Also, expected earnings within the month were averagely impressive, Zenith Bank further brightens market mood with interim dividend of 30k announced on the last trading day of the previous week. Please understand that, as the month will finally winds up tomorrow, we foresee overall positive ending, even on the last trading day of the month.
Technical View
Technically observing the lead indicator’s performance through the month of August, it will be observed that the market had successfully maintained the uptrend all through the month. Month on Month, this makes the second consecutive gaining month. Meanwhile, activities had maintained a very short trading range. In reality, the current trading range is now a very important point that must be watched out for as market trends up and down. Please understand that, the longer the market stand within this trading range, the more the probability of breaking off (up or down) increases.
As at the end of today’s trading, NGXASI closed below its short-term moving average. Nevertheless, the relationship between price and moving average is neutral both in the short and mid-term.
Money Flow Index (MFI) today revealed a sharp movement to the south, a sign that confirms that funds is currently exiting the market. Also, MACD is trending at very close gaps, and had maintained its position below its signal line. Similarly RSI Crossover (RSI15 Vs RSI5) is equally in a sell.
Index Movements
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N82.932 billion, same as 40Bpts below the opening value. Meanwhile, trading activities for the day produced 21 ADVANCERS and 18 LAGERS. NGXASI Year to Date loss is now 234Bpts while the Market Capitalization Year to Date loss stood at N566.924 billion same as 269Bpts below the year’s opening value.
Gainers & Losers
Leading on the advancers’ log is Honeywell Flour that gained 9.86% to round up the day at N3.90 from N3.55. UPDC followed with 9.84% gain, thus, it ended at N2.01 from N1.83. ABC-Transport, Presco and FTN-Cocoa completed the top 5 price percentage gainers’ log with 9.09%, 8.90% and 8.33% respectively.
On the flip side Champion Breweries led with 7.73% price depreciation as it rounded up trade at N2.03 from N2.20. Eterna Oil followed with 7.20% loss, thus it closed at N6.96 from N7.50 Linkage Assurance, Oando and Caverton completed the top 5 price percentage losers’ log with 6.45%, 5.00% and 4.86% respectively.
Top Performers for the Day
Top 5 Trades
Investors did a total of 378 deals on the shares of Zenith Bank, while a total of 333 transactions were made on HoneyWell shares through today’s trading session. GTCO was next on the top 5 list with 306 transactions, while Transcorp and Oando completed the top five (5) trades for the day, as shown in the below table.
Top 5 Performance by Volume
Traders traded 51.69 million units of Transcrop through the day’s trade. HoneyWell Flour followed on the most traded by volume with 43.73 million shares. CHIPLC, OANDO and UPDC completed the top 5 most traded shares for the day.
Top Performance by Value
The Value of the shares traded on Zenith Bank (N220.59 million) was the highest for the day, followed by MTNN where investors exchange N176.84 million worth of shares. HoneyWell, GTCO and Oando completed the list as shown in the above table.
NASD-OTC BRIEF
Over the Counter (OTC) Market Index ended in the red by giving up 0.14% to close the day’s trade at 735.35, while the market Capitalisation equally rounded up in the positive territory as it added 0.14% and close at 639.15 billion. Today’s performance produced two (2) advancers, and two (2) decliners. Kindly view today’s price list Here.
FMDQ-OTC BRIEF
The I&E FX Window opened at N411.93 traded as high as N415.20 before rounding up at N411.63, having transacted a total of $81.81million through the day. Please note that, margin between the close and open value is 9Bpts down. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-Rates.
In the money market, the Overnight (O/N) rate closed at 7.17%, same as 1.33% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 6.50% that is 1.83% below the previous close. Safe Trade.
CRUDE OIL PRICE MOVEMENT
As at the time this report was gathered, Brent Crude sells at 73.22$/bbl, this is 72Bpts above the last close price.
BDC RATES
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