FeaturedMarket Update

Nigerian Equities Market Breaks Support, Gives Up 67Bpts-17th February, 2020

Equities trading on the floor of The Nigerian Stock Exchange ended the first trading day of the week in the negative territory, as the lead performance pointer NSEASI gave up 67Bpts and closed at 27,570.94 from 27,755.87. Safe NSE-Oil & Gas index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead activities index is 67Bpts below opening while the total lost points in the month of February is now 441Bpts. see the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N96.314 billion, same as 67Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 18 LAGERS. NSEASI Year to Date gain is now 272Bpts while the Market Capitalization Year to Date gain stood at N1.401 trillion same as 1,081Bpts above the year’s opening value.

At the end of today’s trading activities, JaizBank Led the advancers’ log with 6.25% to close at N0.68 from N0.64Japaul Oil followed with 5.00% to close at N0.21 from N0.20. Completing the top five price percentage gainers are; Oando (4.35%), Cornerston Insurance (3.70%), and NPFMCRFBK (3.60%).

LawUnion led the decliners’ log with 9.57% as it rounded up at N1.04 from N1.15. Wapic followed on the log with 9.09% loss as it close at N0.30 from N0.33. International Breweries, Unity Bank and ETI completed the top five price percentage losers’ list with 9.03%, 8.77% and 8.57% loss respectively.

At the end of today’s trading activities, the market finally breaks the point where it had enjoyed support for the past five (5) trading days; please understand that, the next support point had been sighted around point 27,047.20. In our opinion, the bears will take the lead, until the audited fourth quarter earnings start hitting the market, this should commence from the end of February. Recall that, many portfolios were re-shuffled after the release of the unaudited financial positions by most listed equities with December financial year end, and given the underperformance status presented in the results, it is normal for investors to sit on the fence and play by earnings quality when they are finally made available to the investing public.

As at the time this report was gathered, Brent Crude sells at 56.66$/bbl, this is 34Bpts above the previous close price.

The I&E FX Window opened at N364.63 traded as high as N365.75 before rounding up at N364.95, having transacted a total of $50.84 million through the day. Please note that, margin between the close and open value is 6Bpts 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 3.50%, same as 0.25% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.92% that is 0.42% above 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

Nigerian Equities Market Breaks Support, Gives Up 67Bpts-17th February, 2020

Equities trading on the floor of The Nigerian Stock Exchange ended the first trading day of the week in the negative territory, as the lead performance pointer NSEASI gave up 67Bpts and closed at 27,570.94 from 27,755.87. Safe NSE-Oil & Gas index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead activities index is 67Bpts below opening while the total lost points in the month of February is now 441Bpts. see the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N96.314 billion, same as 67Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 18 LAGERS. NSEASI Year to Date gain is now 272Bpts while the Market Capitalization Year to Date gain stood at N1.401 trillion same as 1,081Bpts above the year’s opening value.

At the end of today’s trading activities, JaizBank Led the advancers’ log with 6.25% to close at N0.68 from N0.64Japaul Oil followed with 5.00% to close at N0.21 from N0.20. Completing the top five price percentage gainers are; Oando (4.35%), Cornerston Insurance (3.70%), and NPFMCRFBK (3.60%).

LawUnion led the decliners’ log with 9.57% as it rounded up at N1.04 from N1.15. Wapic followed on the log with 9.09% loss as it close at N0.30 from N0.33. International Breweries, Unity Bank and ETI completed the top five price percentage losers’ list with 9.03%, 8.77% and 8.57% loss respectively.

At the end of today’s trading activities, the market finally breaks the point where it had enjoyed support for the past five (5) trading days; please understand that, the next support point had been sighted around point 27,047.20. In our opinion, the bears will take the lead, until the audited fourth quarter earnings start hitting the market, this should commence from the end of February. Recall that, many portfolios were re-shuffled after the release of the unaudited financial positions by most listed equities with December financial year end, and given the underperformance status presented in the results, it is normal for investors to sit on the fence and play by earnings quality when they are finally made available to the investing public.

As at the time this report was gathered, Brent Crude sells at 56.66$/bbl, this is 34Bpts above the previous close price.

The I&E FX Window opened at N364.63 traded as high as N365.75 before rounding up at N364.95, having transacted a total of $50.84 million through the day. Please note that, margin between the close and open value is 6Bpts 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 3.50%, same as 0.25% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.92% that is 0.42% above 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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