FeaturedMarket Update

Nigerian Equities Market Dives Further South, Gives Up 58BPts

In another bearish move, equities trading on the floor of The Nigerian Stock Exchange recorded the second red day, as the lead performance pointer, NSEASI gave up 58Bpts of its trading points and closed at 24,883.70 from 25,027.61. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 63Bpts below the opening while the total gained points in the month of August is now 77Bpts. See the index movement table for details.

The Market seems to be experiencing little pressure from profit taking activities of traders who already satisfied their targets, having received the half year earnings numbers. Recall that we consistently informed our readers that, the half year earnings season will determine the general market trend in the month of August, this had been the situation in the past trading days. Please note that more financials are expected from few listed equities with interim dividend policy; such as, Guaranty Trust, Access Bank, UBA, Zenith and Stanbic IBTC. We strictly recommend a careful tread around the market arena.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N75.071 billion, same as 58Bpts below the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 730Bpts while the Market Capitalization Year to Date gain stood at N22.429 billion same as 17Bpts above the year’s opening value.

Leading on the gainers’ log is Cadbury with 6.82% gain that closed its price at N7.05 from N6.60. Nigerian Breweries followed in the log with 6.25% gain, thus it rounded up trade at N34.00 from N32.00. MBenefits, Ardova and Lasaco completed the top 5 price percentage gainers’ log with 5.00%, 4.94% and 4.17% respectively.

On the flip side, Prestige led with 10.00% loss, thus it rounded up trade at N0.45 from N0.50. Ikeja Hotels followed with 9.82% to close at N1.01 from N1.12. CHIPLC, Mansard and Courtville completed the top 5 price percentage losers’ log with 9.76%, 8.23% and 4.76% respectively.

Over the Counter Market Index and Capitalisation both gained 0.70% each, thus they closed at point 717.00 and N522.28 billion respectively. Today’s performance produced one advancer and zero decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 44.70$/bbl, this is 45Bpts above the previous close price.

The I&E FX Window opened at N386.20 traded as high as N387.00 before rounding up at N385.50, having transacted a total of $31.96million through the day. Please note that, margin between the close and open value is 0Bpts 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 6.17%, same as 0.04% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.17% that is 0.08% below 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 Dives Further South, Gives Up 58BPts

In another bearish move, equities trading on the floor of The Nigerian Stock Exchange recorded the second red day, as the lead performance pointer, NSEASI gave up 58Bpts of its trading points and closed at 24,883.70 from 25,027.61. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 63Bpts below the opening while the total gained points in the month of August is now 77Bpts. See the index movement table for details.

The Market seems to be experiencing little pressure from profit taking activities of traders who already satisfied their targets, having received the half year earnings numbers. Recall that we consistently informed our readers that, the half year earnings season will determine the general market trend in the month of August, this had been the situation in the past trading days. Please note that more financials are expected from few listed equities with interim dividend policy; such as, Guaranty Trust, Access Bank, UBA, Zenith and Stanbic IBTC. We strictly recommend a careful tread around the market arena.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N75.071 billion, same as 58Bpts below the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 17 LAGERS. NSEASI Year to Date loss is now 730Bpts while the Market Capitalization Year to Date gain stood at N22.429 billion same as 17Bpts above the year’s opening value.

Leading on the gainers’ log is Cadbury with 6.82% gain that closed its price at N7.05 from N6.60. Nigerian Breweries followed in the log with 6.25% gain, thus it rounded up trade at N34.00 from N32.00. MBenefits, Ardova and Lasaco completed the top 5 price percentage gainers’ log with 5.00%, 4.94% and 4.17% respectively.

On the flip side, Prestige led with 10.00% loss, thus it rounded up trade at N0.45 from N0.50. Ikeja Hotels followed with 9.82% to close at N1.01 from N1.12. CHIPLC, Mansard and Courtville completed the top 5 price percentage losers’ log with 9.76%, 8.23% and 4.76% respectively.

Over the Counter Market Index and Capitalisation both gained 0.70% each, thus they closed at point 717.00 and N522.28 billion respectively. Today’s performance produced one advancer and zero decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 44.70$/bbl, this is 45Bpts above the previous close price.

The I&E FX Window opened at N386.20 traded as high as N387.00 before rounding up at N385.50, having transacted a total of $31.96million through the day. Please note that, margin between the close and open value is 0Bpts 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 6.17%, same as 0.04% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.17% that is 0.08% below 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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