FeaturedMarket Update

Nigerian Equities Market in Another Positive Move; Adds 58Bpts: 15/01/19

Treading further north, equities trading on the floor of The Nigerian Stock Exchange added 58Bpts to its trading points and rounded up trade at 30,137.53 from 29,964.79. All observed market indices ended in the green zones as shown in the index movement table. On the strength of this, Week to Date market gain increased to 103Bpts while the total lost point in the month of January reduced to 411Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N64.414 billion, same as 58Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 4.11% while the Market Capitalization Year to Date loss stood at N482.162 million same as 4.11% below the year’s opening value.

Although the market had so far maintained recovery moves, the basis of the gains could not be conclusively established. In our opinion, the gains was induced by previous consistent drops that dragged most listed equities to attractive prices and sentiments before the release of some economic indices such as; December inflation rate, last quarter of 2018 GDP performances, coupled with the next MPC meeting. Nevertheless, since the major bear strength (upcoming national election) is still intact, we recommend a cautious tread around the market arena. But because listed equities are now relatively cheap and the release of full year 2018 performance indices is around the corner, we advice traders to position in fundamentally sound equities, using the third quarter earnings as investment pointer.

As at the time we compiled this report, Brent Crude trades at $60.57/bbl having gained 0.07% below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.85 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N364.20 traded as high as N365.60 before rounding up at N363.61, having transacted a total of $148.67 million through the day. Please note that, margin between the close and open value is an equivalent of 19Bpts gain. 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 24.17%, same as 11.08% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 21.67%, that is, 10.00% 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 Positive Move; Adds 58Bpts: 15/01/19

Treading further north, equities trading on the floor of The Nigerian Stock Exchange added 58Bpts to its trading points and rounded up trade at 30,137.53 from 29,964.79. All observed market indices ended in the green zones as shown in the index movement table. On the strength of this, Week to Date market gain increased to 103Bpts while the total lost point in the month of January reduced to 411Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N64.414 billion, same as 58Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 4.11% while the Market Capitalization Year to Date loss stood at N482.162 million same as 4.11% below the year’s opening value.

Although the market had so far maintained recovery moves, the basis of the gains could not be conclusively established. In our opinion, the gains was induced by previous consistent drops that dragged most listed equities to attractive prices and sentiments before the release of some economic indices such as; December inflation rate, last quarter of 2018 GDP performances, coupled with the next MPC meeting. Nevertheless, since the major bear strength (upcoming national election) is still intact, we recommend a cautious tread around the market arena. But because listed equities are now relatively cheap and the release of full year 2018 performance indices is around the corner, we advice traders to position in fundamentally sound equities, using the third quarter earnings as investment pointer.

As at the time we compiled this report, Brent Crude trades at $60.57/bbl having gained 0.07% below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.85 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N364.20 traded as high as N365.60 before rounding up at N363.61, having transacted a total of $148.67 million through the day. Please note that, margin between the close and open value is an equivalent of 19Bpts gain. 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 24.17%, same as 11.08% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 21.67%, that is, 10.00% 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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