FeaturedMarket Update

Nigerian Equities Market Kicks off the Week on a Positive Note, Adds 60Bpts

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 60Bpts to its trading points and closed at 26,521.38 from 26,536.21. All observed market indices in this report closed above their respective opening points as shown in the index movement table. Thus, Week to Date returns is 60Bpts while the total lost points in the month of December, adjusted down to 114Bpts. See the index movement table of details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N76.728 billion, same as 60Bpts above the opening value.  Meanwhile, trading activities for the day produced 17 ADVANCERS and 08 LAGERS. NSEASI Year to Date loss is now 1,507Bpts while the Market Capitalization Year to Date gain stood at N1.163 trillion same as 993Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is Guinness which added 9.83% over its previous close price and closed at N32.40 from N29.50. Pz Cussons followed on the log with 9.52% gain as it closed at N5.75 from N5.25. Ag-Leventis, UBA and Access Bank completed the log with 7.69%, 6.06% and 4.26% respectively.

Meanwhile, Cornerstone Ins. led the losers log with 9.09% loss as it rounded up at N0.60 from N0.66. Neimeth followed with 9.09% loss to close at N0.60 from N0.66. Others on the top five list are; UPL, Royalex and FBNH with 8.33%, 3.85% and 3.85% respectively.

Today’s performance is another confidence booster, confirming the market zeal to recover. It is glaring that few listed equities are already attractive after the last seven consecutive day bearish moves, and traders may be taking smart positions in such equities. Another fact pointing to possible recovery is the improvement in the traded volume as against the seven (7) bearish days.  Judging by sectoral performances at the end of today’s trading activities; one could safely conclude that investors’ sentiment is stronger on the banking stocks. We maintained that trading low priced stocks for very short term profits is an intelligent investment decisions. Meanwhile, investors are expected to maintain positions in dividend stocks against the next full year earnings season.

As at the time this report was gathered, Brent Crude sells at 65.45$/bbl, this is 23Bpts above the previous close price.

The I&E FX Window opened at N362.86 traded as high as N364.50 before rounding up at N363.49, having transacted a total of $179.31 million through the day. Please note that, margin between the close and open value is 0Bpts loss. 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 3.36%, same as 0.57% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.79%, that is, 0.57% 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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FeaturedMarket Update

Nigerian Equities Market Kicks off the Week on a Positive Note, Adds 60Bpts

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 60Bpts to its trading points and closed at 26,521.38 from 26,536.21. All observed market indices in this report closed above their respective opening points as shown in the index movement table. Thus, Week to Date returns is 60Bpts while the total lost points in the month of December, adjusted down to 114Bpts. See the index movement table of details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N76.728 billion, same as 60Bpts above the opening value.  Meanwhile, trading activities for the day produced 17 ADVANCERS and 08 LAGERS. NSEASI Year to Date loss is now 1,507Bpts while the Market Capitalization Year to Date gain stood at N1.163 trillion same as 993Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is Guinness which added 9.83% over its previous close price and closed at N32.40 from N29.50. Pz Cussons followed on the log with 9.52% gain as it closed at N5.75 from N5.25. Ag-Leventis, UBA and Access Bank completed the log with 7.69%, 6.06% and 4.26% respectively.

Meanwhile, Cornerstone Ins. led the losers log with 9.09% loss as it rounded up at N0.60 from N0.66. Neimeth followed with 9.09% loss to close at N0.60 from N0.66. Others on the top five list are; UPL, Royalex and FBNH with 8.33%, 3.85% and 3.85% respectively.

Today’s performance is another confidence booster, confirming the market zeal to recover. It is glaring that few listed equities are already attractive after the last seven consecutive day bearish moves, and traders may be taking smart positions in such equities. Another fact pointing to possible recovery is the improvement in the traded volume as against the seven (7) bearish days.  Judging by sectoral performances at the end of today’s trading activities; one could safely conclude that investors’ sentiment is stronger on the banking stocks. We maintained that trading low priced stocks for very short term profits is an intelligent investment decisions. Meanwhile, investors are expected to maintain positions in dividend stocks against the next full year earnings season.

As at the time this report was gathered, Brent Crude sells at 65.45$/bbl, this is 23Bpts above the previous close price.

The I&E FX Window opened at N362.86 traded as high as N364.50 before rounding up at N363.49, having transacted a total of $179.31 million through the day. Please note that, margin between the close and open value is 0Bpts loss. 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 3.36%, same as 0.57% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.79%, that is, 0.57% 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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