GeneralMarket Update

Nigerian Equities Market Failed Recovery Attempt, Maintained Negative Path: 14/03/19

Reversing yesterday’s gained points, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the All Share Index gave up 47Bpts to round up trade at 31,213.47 from 31.360.28. Two (2) of the observed market indices gained, one closed flat while others ended up below their respective opening points. Thus, Week to Date, the lead activities index is down by 223Bpts while the total lost point in the current month is now 160Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N55.749 billion, same as 48Bpts below the opening value.  Meanwhile, trading activities for the day produced 09 ADVANCERS and 20 LAGERS. NSEASI Year to Date loss is now 69Bpts while the Market Capitalization Year to Date loss stood at N81.732 billion same as 70Bpts below the year’s opening value.

As noted in our update yesterday, market mood was generally bearish, despite the recorded gain; thus we identified Nestle Foods as the boost. This fully explained the loss recorded through today’s trading activities, when the market continued in the negative direction. Please understand that most traders currently sit on the fence, while waiting for earnings figures from equities with December year end. We reiterate that the market is gradually returning gains recorded during the election preparation period (that is in February). On the strength of this, we recommend cautious moves around the market arena. Meanwhile holding fundamentally sound equities in your portfolio for earnings reward is an intelligent investment decision.

As at the time we compiled this report, Brent Crude trades at $61.17/bbl having lost 0.06% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N306.95 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.57 traded as high as N361.35 before rounding up at N360.36, having transacted a total of $180.69 million through the day. Please note that, margin between the close and open value is an equivalent of 2Bpts 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 11.58%, same as 1.58% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 10.67%, that is, 1.25% 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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GeneralMarket Update

Nigerian Equities Market Failed Recovery Attempt, Maintained Negative Path: 14/03/19

Reversing yesterday’s gained points, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the All Share Index gave up 47Bpts to round up trade at 31,213.47 from 31.360.28. Two (2) of the observed market indices gained, one closed flat while others ended up below their respective opening points. Thus, Week to Date, the lead activities index is down by 223Bpts while the total lost point in the current month is now 160Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N55.749 billion, same as 48Bpts below the opening value.  Meanwhile, trading activities for the day produced 09 ADVANCERS and 20 LAGERS. NSEASI Year to Date loss is now 69Bpts while the Market Capitalization Year to Date loss stood at N81.732 billion same as 70Bpts below the year’s opening value.

As noted in our update yesterday, market mood was generally bearish, despite the recorded gain; thus we identified Nestle Foods as the boost. This fully explained the loss recorded through today’s trading activities, when the market continued in the negative direction. Please understand that most traders currently sit on the fence, while waiting for earnings figures from equities with December year end. We reiterate that the market is gradually returning gains recorded during the election preparation period (that is in February). On the strength of this, we recommend cautious moves around the market arena. Meanwhile holding fundamentally sound equities in your portfolio for earnings reward is an intelligent investment decision.

As at the time we compiled this report, Brent Crude trades at $61.17/bbl having lost 0.06% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N306.95 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.57 traded as high as N361.35 before rounding up at N360.36, having transacted a total of $180.69 million through the day. Please note that, margin between the close and open value is an equivalent of 2Bpts 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 11.58%, same as 1.58% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 10.67%, that is, 1.25% 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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