FeaturedMarket Update

Nigerian Equities Market Gave Up 111Bpts, Lost All Gained Points in November

Treading deeper into the bearish zone, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the lead performance pointer NSEASI gave up 111Bpts and closed at 26,384.21 from 26,681.31. Safe NSE-Oil&Gas index that ended on a flat note, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, the lead index is 175Bpts below opening, while the total lost points in the month of December is now 229Bpts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N143.397 billion, same as 111Bpts below the opening value.  Meanwhile, trading activities for the day produced 08 ADVANCERS and 23 LAGERS. NSEASI Year to Date loss is now 1,606Bpts while the Market Capitalization Year to Date gain stood at N1.013 trillion same as 865Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is Royalex that added 7.41% of its previous close price and closed at N0.29 from N0.27. FCMB followed on the log with 3.95% gain as it rounded up trade at N1.84 from N1.77. Eko corp, UCAP and Glaxo-Smithkline completed the log with 3.75%, 2.29% and 1.75% respectively.

Meanwhile, Daarcomm led the losers log with 10.00% loss as it rounded up at N0.36 from N0.40. Arbico followed with 9.95% loss to close at N3.89 from N4.32. Others on the top five list are; Cornerstone, Fidson and Courtville with 8.82%, 8.82% and 8.00% respectively.

Out of the 2.4% recovered by the lead index in November, the bear already snatched of 2.3% as at the end of today’s trade. Unlike last month when the few listed equities were playing against the market trend, all active listed equities seem to be having their own share of the bear run. Nevertheless, the exchange rule on permitted volume to change listed equities price is still playing expected defensive role on price, especially on high cap stocks. We remain expectant of a rally in the Santa Claus week and the last week of December. Thus, we recommend a smart play on the on-going bearish moves for timely profit at recovery.

As at the time this report was gathered, Brent Crude sells at 64.30$/bbl, this is 5Bpts above the previous close price.

The I&E FX Window opened at N362.70 traded as high as N363.80 before rounding up at N363.36, having transacted a total of $109.85 million through the day. Please note that, margin between the close and open value is 6Bpts gain. 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 2.89%, same as 0.18% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.29%, that is, 0.14% 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 Gave Up 111Bpts, Lost All Gained Points in November

Treading deeper into the bearish zone, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the lead performance pointer NSEASI gave up 111Bpts and closed at 26,384.21 from 26,681.31. Safe NSE-Oil&Gas index that ended on a flat note, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, the lead index is 175Bpts below opening, while the total lost points in the month of December is now 229Bpts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N143.397 billion, same as 111Bpts below the opening value.  Meanwhile, trading activities for the day produced 08 ADVANCERS and 23 LAGERS. NSEASI Year to Date loss is now 1,606Bpts while the Market Capitalization Year to Date gain stood at N1.013 trillion same as 865Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is Royalex that added 7.41% of its previous close price and closed at N0.29 from N0.27. FCMB followed on the log with 3.95% gain as it rounded up trade at N1.84 from N1.77. Eko corp, UCAP and Glaxo-Smithkline completed the log with 3.75%, 2.29% and 1.75% respectively.

Meanwhile, Daarcomm led the losers log with 10.00% loss as it rounded up at N0.36 from N0.40. Arbico followed with 9.95% loss to close at N3.89 from N4.32. Others on the top five list are; Cornerstone, Fidson and Courtville with 8.82%, 8.82% and 8.00% respectively.

Out of the 2.4% recovered by the lead index in November, the bear already snatched of 2.3% as at the end of today’s trade. Unlike last month when the few listed equities were playing against the market trend, all active listed equities seem to be having their own share of the bear run. Nevertheless, the exchange rule on permitted volume to change listed equities price is still playing expected defensive role on price, especially on high cap stocks. We remain expectant of a rally in the Santa Claus week and the last week of December. Thus, we recommend a smart play on the on-going bearish moves for timely profit at recovery.

As at the time this report was gathered, Brent Crude sells at 64.30$/bbl, this is 5Bpts above the previous close price.

The I&E FX Window opened at N362.70 traded as high as N363.80 before rounding up at N363.36, having transacted a total of $109.85 million through the day. Please note that, margin between the close and open value is 6Bpts gain. 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 2.89%, same as 0.18% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.29%, that is, 0.14% 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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