FeaturedMarket Update

Nigerian Equities Market in Another Marginal Gain, As NSEASI Adds 12Bpts

Starting up the new week, trading activities on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer NSEASI added 12Bpts and closed at 24,858.82 from 24,828.96. It was a mixed performance amongst the observed market indices in this report as shown in the index movement table. Thus, Week to Date, activities index is 12Bpts above opening, while the total lost points in the month of June is now 162Bpts. See the index movement table for details.

All economic figures released by the National Bureau of Statistics confirmed that all is not well with the nation economy, and further compounding this, is the World Bank’s projection which claimed that Nigeria economy will contract by 5.4% in 2020; even as Nigeria continued to record increasing number of the Novel Coronavirus pandemic. Meanwhile, in reaction to these, the Federal Government had reportedly supported the CBN efforts to stimulate the economy by approving N2.3 trillion economic stimulus. Although these are positive fundamentals for the market, we are of the opinion that, traders will remain cautious due to their negative expectations of half year numbers.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N15.579 billion, same as 12Bpts above the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 29 LAGERS. NSEASI Year to Date loss is now 739Bpts while the Market Capitalization Year to Date gain stood at N9.485 billion same as 7Bpts above the year’s opening value.

Okomu Oil, Cutix and Regency Alliance led the advancers’ log with 10.00% each as they all rounded up at N70.40, N1.76 and N0.22 from N64.00, N1.60 and N0.20 respectively. Neimeth and Wapic completed the top 5 price percentage gainers’ log with 9.49% and 9.37% respectively.

Meanwhile, Unilever led the decliners’ log with 10.00% and closed at N15.30 from N17.00. Ardova followed closely with 9.96% to end the day’s trade at N11.75 from N13.05. Chellaram, Eterna and DeapCap completed the top 5 price percentage losers’ log with 9.71%, 9.68% and 9.09% respectively.

Over the Counter Market Index and Capitalisation both gained 1.78% each, as they both rounded up at point 715.51 and N525.59 Billion respectively. SDCSCSPLC and SDFCWAMCO are the only  gainers for the day, thus, they both closed at N13.92 and N124.95 from N15.05 and N120.00 respectively.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.58$/bbl, this is 31Bpts below the previous close price.

The I&E FX Window opened at N388.86 traded as high as N389.00 before rounding up at N386.00, having transacted a total of $122.89 million through the day. Please note that, margin between the close and open value is 9Bpts 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 15.67%, same as 0.43% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.92% that is 0.28% 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 in Another Marginal Gain, As NSEASI Adds 12Bpts

Starting up the new week, trading activities on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer NSEASI added 12Bpts and closed at 24,858.82 from 24,828.96. It was a mixed performance amongst the observed market indices in this report as shown in the index movement table. Thus, Week to Date, activities index is 12Bpts above opening, while the total lost points in the month of June is now 162Bpts. See the index movement table for details.

All economic figures released by the National Bureau of Statistics confirmed that all is not well with the nation economy, and further compounding this, is the World Bank’s projection which claimed that Nigeria economy will contract by 5.4% in 2020; even as Nigeria continued to record increasing number of the Novel Coronavirus pandemic. Meanwhile, in reaction to these, the Federal Government had reportedly supported the CBN efforts to stimulate the economy by approving N2.3 trillion economic stimulus. Although these are positive fundamentals for the market, we are of the opinion that, traders will remain cautious due to their negative expectations of half year numbers.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N15.579 billion, same as 12Bpts above the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 29 LAGERS. NSEASI Year to Date loss is now 739Bpts while the Market Capitalization Year to Date gain stood at N9.485 billion same as 7Bpts above the year’s opening value.

Okomu Oil, Cutix and Regency Alliance led the advancers’ log with 10.00% each as they all rounded up at N70.40, N1.76 and N0.22 from N64.00, N1.60 and N0.20 respectively. Neimeth and Wapic completed the top 5 price percentage gainers’ log with 9.49% and 9.37% respectively.

Meanwhile, Unilever led the decliners’ log with 10.00% and closed at N15.30 from N17.00. Ardova followed closely with 9.96% to end the day’s trade at N11.75 from N13.05. Chellaram, Eterna and DeapCap completed the top 5 price percentage losers’ log with 9.71%, 9.68% and 9.09% respectively.

Over the Counter Market Index and Capitalisation both gained 1.78% each, as they both rounded up at point 715.51 and N525.59 Billion respectively. SDCSCSPLC and SDFCWAMCO are the only  gainers for the day, thus, they both closed at N13.92 and N124.95 from N15.05 and N120.00 respectively.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.58$/bbl, this is 31Bpts below the previous close price.

The I&E FX Window opened at N388.86 traded as high as N389.00 before rounding up at N386.00, having transacted a total of $122.89 million through the day. Please note that, margin between the close and open value is 9Bpts 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 15.67%, same as 0.43% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.92% that is 0.28% 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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