FeaturedMarket Update

Nigerian Equities Market: Listed Equities Get Cheaper as NSEASI Penetrated Next Support: 04/04/2019

As bearish sentiments continues, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer NSEASI gave up 39Bpts of its trading points and closed at 29,668.73 from 30,226.77. Safe NSE-Oil & Gas index that added points, other observed market indices dipped. Thus, Week to Date, activities index is down by 479Bpts while the total lost points in the new month is also 479Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N43.424 billion, same as 39Bpts below the opening value.  Meanwhile, trading activities for the day produced 11 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 597Bpts while the Market Capitalization Year to Date loss stood at N620.343 billion same as 529Bpts below the year’s opening value.

The lead indicator NSEASI penetrated the last support point yesterday; this is in line of our expectation in the last report. Nevertheless, since the bear already dragged most blue-chip to attractive prices, we expect bargain hunters activities to commence any moment from now. In other words, we project that the market might challenge the bear within the next two trading days. We also advise traders to watch out for equities with extended dividend closure date (that is, closure date far from released date) as most of them will move for at least three trading days before such closure date.

As at the time we compiled this report, Brent Crude trades at $69.27/bbl having lost 0.13% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N307.00 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.30 traded as high as N363.00 before rounding up at N360.30, having transacted a total of $165.84 million through the day. Please note that, margin between the close and open value is an equivalent of 7Bpts loss. 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 20.86%, same as 3.36% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 19.71%, that is, 3.00% 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: Listed Equities Get Cheaper as NSEASI Penetrated Next Support: 04/04/2019

As bearish sentiments continues, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer NSEASI gave up 39Bpts of its trading points and closed at 29,668.73 from 30,226.77. Safe NSE-Oil & Gas index that added points, other observed market indices dipped. Thus, Week to Date, activities index is down by 479Bpts while the total lost points in the new month is also 479Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N43.424 billion, same as 39Bpts below the opening value.  Meanwhile, trading activities for the day produced 11 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 597Bpts while the Market Capitalization Year to Date loss stood at N620.343 billion same as 529Bpts below the year’s opening value.

The lead indicator NSEASI penetrated the last support point yesterday; this is in line of our expectation in the last report. Nevertheless, since the bear already dragged most blue-chip to attractive prices, we expect bargain hunters activities to commence any moment from now. In other words, we project that the market might challenge the bear within the next two trading days. We also advise traders to watch out for equities with extended dividend closure date (that is, closure date far from released date) as most of them will move for at least three trading days before such closure date.

As at the time we compiled this report, Brent Crude trades at $69.27/bbl having lost 0.13% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N307.00 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.30 traded as high as N363.00 before rounding up at N360.30, having transacted a total of $165.84 million through the day. Please note that, margin between the close and open value is an equivalent of 7Bpts loss. 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 20.86%, same as 3.36% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 19.71%, that is, 3.00% 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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