The lager’s log faded off as equities trading on the floor of The Nigerian Stock Exchange recorded a gallant recovery with the lead performance pointer NSEASI adding a whooping 191Bpts to round up trade at 26,843.11 from 26,339.11. All observed market indices in this report gained. Thus, Week to Date, the lead activities index is 201Bpts above the opening point while the total point gained in the month of November is now 185Bpts. See the index movement for details.
Value gain by the Market Capitalization of the listed equities during today’s trading activities was N245.343 billion, same as 191Bpts above the opening value. Meanwhile, trading activities for the day produced 34 ADVANCERS and 03 LAGERS. NSEASI Year to Date loss is now 1,460Bpts while the Market Capitalization Year to Date gain stood at N1.346 trillion same as 1,149Bpts above the year’s opening value.
Price appreciation on the share price of EkoCorp led the advancers’ log with 9.79% gaine as the equity closed at N3.70 from N3.37. Caverton followed on the lowg with 9.76% gain, while Guinness UCAP and FBNH completed the top 5 price percentage gainers’ log with 9.70%, 9.66% and 9.65% gain respectively.
Only three decliners emerged at the end of today’s trading activities. Leading is Ikeja Hotel that shed 9.38% of its opening price, thus, it closed at N0.87 from N0.96. Champion Breweries followed with 9.09% loss to close at N0.90 from N0.99. completing the log is MTNN that gave up 0.12% of its opening price and closed at N121.90 as against N122.05.
As noted in our previous reports, recent policies by the CBN along other moves by the exchange and other stakeholders should increase liquidity around the equities market. Although market may consistently experience short-lived recovery moves, in our opinion, such is typical of a recovering market. Buying interest remain strong in most listed equities although the lead performance pointer may not reflect the same posture always, we conclude that traders should take timely advantage of low priced equities and play dividend stocks accordingly.
As at the time this report was gathered, Brent Crude sells at 62.59$/bbl, this is 31Bpts above the previous close price.
The I&E FX Window opened at N362.45 traded as high as N363.50 before rounding up at N362.49, having transacted a total of $273.93 million through the day. Please note that, margin between the close and open value is 7Bpts gain. 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 7.79%, same as 1.21% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 6.71%, that is, 1.43% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.
Comment here