FeaturedMarket Update

Nigerian Equities Market Gains a Whooping 302Bpts on Improve Confidence

Boosted by strong gains on the shares of Dangote Cement and other blue chip, equities trading on the floor of The Nigerian Stock Exchange rounded up in the green, as the lead performance pointer, NSEASI added a whooping 302Bpts and closed at 22,539.94 from 21,879.95. Safe NSE-Insurance Index that shed points, other observed market indices in this report gained. Thus, Week to Date, the lead index is 541Bpts above opening while the total gained points in the month of April is now 582Bpts. See the index movement table for details.

The Nigerian equities market came up stronger in today’s trade.  As noted in our previous reports, investors seem to have gathered confidence from the various control strategies introduced by the Federal Government, especially the Central Bank of Nigeria and the world at large; this is further helped by various dividend announcements around the market. Please understand that, intelligent investors all over the world understood the advantage that awaits them at the end of the on-going COVID-19 induced economic distress, especially in the African markets, and are currently taking positions in relatively cheap blue chip stocks. On the strength of the above, we are of the opinion that, positioning before the end of the saga is an intelligent investment decision.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N343.956 billion, same as 302Bpts above the opening value. Meanwhile, trading activities for the day produced 28 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 1,603Bpts while the Market Capitalization Year to Date loss stood at N1.211 trillion same as 935Bpts below the year’s opening value.

The advanccers’ log was led by Neimeth, Champion Breweries and Dangote Cement with 10.00% price appreciation each. They respectively closed at N0.55, N0.88 and N133.10 from N0.50, N0.80 and N121.00. Oando and Nigerian Breweries completed the top 5 list with 9.85% and 9.84% respectively.

On the other hand, Arbico led the decliners’ log with 9.82% as it rounded up trade at N2.57 frm N2.85. WemaBank followed on the log with 9.68% to close at N0.56 against N0.62. Completing the top 5 price percentage losers for the day are Cutix, AIICO and UBN that lost 9.09%, 4.76% and 4.62% respectively. See the Top performers’ log for details.

As at the time this report was gathered, Brent Crude sells at 28.06$/bbl, this is 114Bpts below the previous close price.

The I&E FX Window opened at N388.38 traded as high as N400.45 before rounding up at N385.63, having transacted a total of $38.61 million through the day. Please note that, margin between the close and open value is 26Bpts 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 2.42%, same as 0.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.00% that is 0.33% 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 Gains a Whooping 302Bpts on Improve Confidence

Boosted by strong gains on the shares of Dangote Cement and other blue chip, equities trading on the floor of The Nigerian Stock Exchange rounded up in the green, as the lead performance pointer, NSEASI added a whooping 302Bpts and closed at 22,539.94 from 21,879.95. Safe NSE-Insurance Index that shed points, other observed market indices in this report gained. Thus, Week to Date, the lead index is 541Bpts above opening while the total gained points in the month of April is now 582Bpts. See the index movement table for details.

The Nigerian equities market came up stronger in today’s trade.  As noted in our previous reports, investors seem to have gathered confidence from the various control strategies introduced by the Federal Government, especially the Central Bank of Nigeria and the world at large; this is further helped by various dividend announcements around the market. Please understand that, intelligent investors all over the world understood the advantage that awaits them at the end of the on-going COVID-19 induced economic distress, especially in the African markets, and are currently taking positions in relatively cheap blue chip stocks. On the strength of the above, we are of the opinion that, positioning before the end of the saga is an intelligent investment decision.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N343.956 billion, same as 302Bpts above the opening value. Meanwhile, trading activities for the day produced 28 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 1,603Bpts while the Market Capitalization Year to Date loss stood at N1.211 trillion same as 935Bpts below the year’s opening value.

The advanccers’ log was led by Neimeth, Champion Breweries and Dangote Cement with 10.00% price appreciation each. They respectively closed at N0.55, N0.88 and N133.10 from N0.50, N0.80 and N121.00. Oando and Nigerian Breweries completed the top 5 list with 9.85% and 9.84% respectively.

On the other hand, Arbico led the decliners’ log with 9.82% as it rounded up trade at N2.57 frm N2.85. WemaBank followed on the log with 9.68% to close at N0.56 against N0.62. Completing the top 5 price percentage losers for the day are Cutix, AIICO and UBN that lost 9.09%, 4.76% and 4.62% respectively. See the Top performers’ log for details.

As at the time this report was gathered, Brent Crude sells at 28.06$/bbl, this is 114Bpts below the previous close price.

The I&E FX Window opened at N388.38 traded as high as N400.45 before rounding up at N385.63, having transacted a total of $38.61 million through the day. Please note that, margin between the close and open value is 26Bpts 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 2.42%, same as 0.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.00% that is 0.33% 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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