Maintaining positive sentiments, equities trading on the floor of The Nigerian Stock Exchange added 80Bpts to its trading points during today’s trading activities; in other words, NSEASI rounded up trade at 31,781.87 from 31,529.92. All observed market indices closed above their respective opening prices as shown in the index movement table. Thus, total point added to the market trading points today is same as 401Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N93.956 billion, same as 80Bpts above the opening value. Meanwhile, trading activities for the day produced 41 ADVANCERS and 10 LAGERS. NSEASI Year to Date gain is now 112Bpts while the Market Capitalization Year to Date gain stood at N131.239 billion same as 112Bpts below the year’s opening value.
Trading activities had again recorded another positive ride, thereby pitching another year high. Undoubtedly liquidity around the market had increased and good numbers of equities are enjoying the bullish ride. The moves seem to have improved investors’ confidence as most investors were seen joining in the aggressive positioning towards the expected earnings season. On the other hand political terrain remained tense as we draw near the Election Day. Please note that the GDP figure for the last quarter of 2018 is expected from the National Bureau of Statistics tomorrow Tuesday 12th February, 2019. In our opinion, the effect of the on equities market will be mild; since the funds currently exciting the market is not likely to chicken out in panic.
As at the time we compiled this report, Brent Crude trades at $61.54/bbl having gained 0.56% below the last close price.
At the interbank rate today, the Naira closed unchanged at N306.70 against the USDollar. See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N361.69 traded as high as N363.00 before rounding up at N361.95, having transacted a total of $328.47 million through the day. Please note that, margin between the close and open value is an equivalent of 8Bpts 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 47.50%, same as 3.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 43.33%, that is, 24.67% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.