FeaturedMarket Update

Nigerian Equities Market Dips Further, As Q3 Earnings Season Draws Near

In another negative drive, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 8Bpts of its trading points, and closed at 38,873.85 from 38,906.42. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead index is 18Bpts below opening, while the total lost points in the month September is now 88Bpts. See the index movement table for details.

Fundamental View

According to the National Bureau of Statistics, the Headline Inflation dropped for the fifth consecutive time in August, 2021. Also, the Central Bank of Nigeria, through its Monetary Policy Committee, voted to keep all rates unchanged in its September meeting. This was a move taken by the group to ensure relatively low cost of funds, needed to support the economy. But despite these positive moves, trading activities on the floor of the exchange had maintained a side-way trend. Although good numbers of expected earnings had been received till date, we are of the opinion that positions for third quarter earnings should commence any moment from now. Please understand that Stanbic-IBTC was today adjusted for N1.00 dividend while UBA will be adjusted for 20k interim dividend recently announced within the week (Precisely 24th September).

Technical View

Reading the daily chart from the 20th August, 2021, it will be noticed that the market is currently going through the third step of resistance to the bear, by trending side-way. The first time was played withing 23rd August to 27th August, before loosing to the negative. The second attempt was registered 1st to 9th September, while the third one started on 13th September and its still one.

Meanwhile, WoW market had been on a side-way trend since 19th March, 2021, and its still on. Same trend is spotted on the Monthly pattern. The truth is that, one cannot readily conclude a final pattern for the market at the moment, this is because the chances are halved, though the bear had led in most recent struggles. As at close of business today, the major divergence spotted between MFI and Price on Monday turned flat.

Nevertheless., MACD had since crossed the signal line from the top on a daily chart, meanwhile WoW both MACD and the signal line is about initiating a signal. RSI Cross Over, which combine RSI-15 and RSI-7 is a sell on a daily chart and sell WoW.

We strictly recommend a cautious play around the market, we are of the opinion that a major break will take the market either way (up or down), depending on leading market fundamentals.

Index Movements

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N16.970 billion, same as 8Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 13 LAGERS. NGXASI Year to Date loss is now 347Bpts while the Market Capitalization Year to Date loss stood at N803.216 billion same as 381Bpts below the year’s opening value.

Gainers & Losers

Leading on the advancers’ log is MRS that gained 9.75% to round up the day at N15.20 from N13.85. VeritasKap followed with 9.52% gain, thus, it ended at N0.23 from N0.21. Regency Alliance, Unity Bank and Courtville completed the top 5 price percentage gainers’ log with 6.82%, 3.77% and 3.23% respectively.

On the flip side Neimeth led with 7.89% price depreciation as it rounded up trade at N1.75 from N1.90. Chams followed with 4.35% loss, thus it closed at N0.22 from N0.23. Japaul Gold, Sovereign Insurance and Wema Bank completed the top 5 price percentage losers’ log with 4.08%, 4.00% and 3.80% respectively.

Top Performers for the Day

Top 5 Trades

Investors did a total of 506 deals on the shares of Zenith Bank, while a total of 253 transactions were made on GTCO shares through today’s trading session. UBA was next on the top 5 list with 233 transactions, while Access Bank and UCAP completed the top five (5) trades for the day, as shown in the below table

Top 5 Performance by Volume

Traders traded 38.99 million units of UBA through the day’s trade. GTCO followed on the most traded by volume with 19.03 million shares. Zenith Bank, UCAP and Access Bank completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on GTCO (N517.86 million) was the highest for the day, followed by Zenith Bank where investors exchange N362.52 million worth of shares. Dangote Cement, UBA, and MTNN completed the list as shown in the above table.

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the green by adding 0.72% and closed the day’s trade at 737.34, while the market Capitalisation equally rounded up in the positive territory as gined 0.72% and close at 640.88 billion. Today’s performance produced four (4) advancers, and one (1) decliner. Kindly view today’s price list Here.

FMDQ-BRIEF

The I&E FX Window opened at N413.21 traded as high as N420.79 before rounding up at N413.28, having transacted a total of $200.65 million through the day. Please note that, margin between the close and open value is 10Bpts 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 16.25%, same as 1.00% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 15.50% that is 1.00% above the previous close.

CRUDE OIL PRICE MOVEMENTS

As at the time this report was gathered, Brent Crude sells at 74.99$/bbl, this is 85Bpts above the last close price. Safe Trade.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FeaturedMarket Update

Nigerian Equities Market Dips Further, As Q3 Earnings Season Draws Near

In another negative drive, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 8Bpts of its trading points, and closed at 38,873.85 from 38,906.42. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead index is 18Bpts below opening, while the total lost points in the month September is now 88Bpts. See the index movement table for details.

Fundamental View

According to the National Bureau of Statistics, the Headline Inflation dropped for the fifth consecutive time in August, 2021. Also, the Central Bank of Nigeria, through its Monetary Policy Committee, voted to keep all rates unchanged in its September meeting. This was a move taken by the group to ensure relatively low cost of funds, needed to support the economy. But despite these positive moves, trading activities on the floor of the exchange had maintained a side-way trend. Although good numbers of expected earnings had been received till date, we are of the opinion that positions for third quarter earnings should commence any moment from now. Please understand that Stanbic-IBTC was today adjusted for N1.00 dividend while UBA will be adjusted for 20k interim dividend recently announced within the week (Precisely 24th September).

Technical View

Reading the daily chart from the 20th August, 2021, it will be noticed that the market is currently going through the third step of resistance to the bear, by trending side-way. The first time was played withing 23rd August to 27th August, before loosing to the negative. The second attempt was registered 1st to 9th September, while the third one started on 13th September and its still one.

Meanwhile, WoW market had been on a side-way trend since 19th March, 2021, and its still on. Same trend is spotted on the Monthly pattern. The truth is that, one cannot readily conclude a final pattern for the market at the moment, this is because the chances are halved, though the bear had led in most recent struggles. As at close of business today, the major divergence spotted between MFI and Price on Monday turned flat.

Nevertheless., MACD had since crossed the signal line from the top on a daily chart, meanwhile WoW both MACD and the signal line is about initiating a signal. RSI Cross Over, which combine RSI-15 and RSI-7 is a sell on a daily chart and sell WoW.

We strictly recommend a cautious play around the market, we are of the opinion that a major break will take the market either way (up or down), depending on leading market fundamentals.

Index Movements

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N16.970 billion, same as 8Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 13 LAGERS. NGXASI Year to Date loss is now 347Bpts while the Market Capitalization Year to Date loss stood at N803.216 billion same as 381Bpts below the year’s opening value.

Gainers & Losers

Leading on the advancers’ log is MRS that gained 9.75% to round up the day at N15.20 from N13.85. VeritasKap followed with 9.52% gain, thus, it ended at N0.23 from N0.21. Regency Alliance, Unity Bank and Courtville completed the top 5 price percentage gainers’ log with 6.82%, 3.77% and 3.23% respectively.

On the flip side Neimeth led with 7.89% price depreciation as it rounded up trade at N1.75 from N1.90. Chams followed with 4.35% loss, thus it closed at N0.22 from N0.23. Japaul Gold, Sovereign Insurance and Wema Bank completed the top 5 price percentage losers’ log with 4.08%, 4.00% and 3.80% respectively.

Top Performers for the Day

Top 5 Trades

Investors did a total of 506 deals on the shares of Zenith Bank, while a total of 253 transactions were made on GTCO shares through today’s trading session. UBA was next on the top 5 list with 233 transactions, while Access Bank and UCAP completed the top five (5) trades for the day, as shown in the below table

Top 5 Performance by Volume

Traders traded 38.99 million units of UBA through the day’s trade. GTCO followed on the most traded by volume with 19.03 million shares. Zenith Bank, UCAP and Access Bank completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on GTCO (N517.86 million) was the highest for the day, followed by Zenith Bank where investors exchange N362.52 million worth of shares. Dangote Cement, UBA, and MTNN completed the list as shown in the above table.

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the green by adding 0.72% and closed the day’s trade at 737.34, while the market Capitalisation equally rounded up in the positive territory as gined 0.72% and close at 640.88 billion. Today’s performance produced four (4) advancers, and one (1) decliner. Kindly view today’s price list Here.

FMDQ-BRIEF

The I&E FX Window opened at N413.21 traded as high as N420.79 before rounding up at N413.28, having transacted a total of $200.65 million through the day. Please note that, margin between the close and open value is 10Bpts 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 16.25%, same as 1.00% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 15.50% that is 1.00% above the previous close.

CRUDE OIL PRICE MOVEMENTS

As at the time this report was gathered, Brent Crude sells at 74.99$/bbl, this is 85Bpts above the last close price. Safe Trade.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.