FeaturedMarket Update

Nigerian Equities Market Drove Further North on the Wings of Earnings Expectations: 20/02/19

Equities trading on the floor of The Nigerian Stock Exchange maintained positive sentiments as the lead performance pointer NSEASI added 64Bpts and closed the day’s trade at 32,614.06 from 32,406.18. Safe NSE-Industrial Goods and NSE-LotusII that shed points, other observed market indices followed the lead indicator’s path. Thus, Week to Date, total lost point adjusted down to 31Bpts while Month to Date gain is 673Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N77.521 billion, same as 64Bpts above the opening value.  Meanwhile, trading activities for the day produced 26 ADVANCERS and 16 LAGERS. NSEASI Year to Date gain is now 377Bpts while the Market Capitalization Year to Date gain stood at N441.569 billion same as 377Bpts below the year’s opening value.

Unlike yesterday, more traders joined in the positive sentiments that reversed the market on Tuesday. This is further confirmed as more fundamentally based equities joined the advancers’ log. Also observed is the general improvement in the activities log for the day. As noted in our report yesterday, the market is currently in the earnings’ pick period and that strictly accounts for the quick market reversal despite the electioneering shock recently experienced in Nigeria. Please understand that as positive sentiments continued through the next day’s trading activities, the market will further established its newly found trend (uptrend). Although we recommend a cautious play around the market arena, we maintained that positioning/holding on to fundamentally strong equities is an intelligent investment decision.

As at the time we compiled this report, Brent Crude trades at $67.14/bbl having gained 0.69% above the last close price.

At the interbank rate today, the Naira closed unchanged at N306.80 against the dollar,.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N361.88 traded as high as N363.30 before rounding up at N362.20, having transacted a total of $75.84 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 15.83%, same as 10.25% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00%, that is, 8.33% 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 Drove Further North on the Wings of Earnings Expectations: 20/02/19

Equities trading on the floor of The Nigerian Stock Exchange maintained positive sentiments as the lead performance pointer NSEASI added 64Bpts and closed the day’s trade at 32,614.06 from 32,406.18. Safe NSE-Industrial Goods and NSE-LotusII that shed points, other observed market indices followed the lead indicator’s path. Thus, Week to Date, total lost point adjusted down to 31Bpts while Month to Date gain is 673Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N77.521 billion, same as 64Bpts above the opening value.  Meanwhile, trading activities for the day produced 26 ADVANCERS and 16 LAGERS. NSEASI Year to Date gain is now 377Bpts while the Market Capitalization Year to Date gain stood at N441.569 billion same as 377Bpts below the year’s opening value.

Unlike yesterday, more traders joined in the positive sentiments that reversed the market on Tuesday. This is further confirmed as more fundamentally based equities joined the advancers’ log. Also observed is the general improvement in the activities log for the day. As noted in our report yesterday, the market is currently in the earnings’ pick period and that strictly accounts for the quick market reversal despite the electioneering shock recently experienced in Nigeria. Please understand that as positive sentiments continued through the next day’s trading activities, the market will further established its newly found trend (uptrend). Although we recommend a cautious play around the market arena, we maintained that positioning/holding on to fundamentally strong equities is an intelligent investment decision.

As at the time we compiled this report, Brent Crude trades at $67.14/bbl having gained 0.69% above the last close price.

At the interbank rate today, the Naira closed unchanged at N306.80 against the dollar,.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N361.88 traded as high as N363.30 before rounding up at N362.20, having transacted a total of $75.84 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 15.83%, same as 10.25% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00%, that is, 8.33% 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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