FeaturedMarket Update

Nigerian Equities Market Lost Previous Gains, as NSEASI Gives Up 16BPts

Reversing yesterday’s gained points, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer –NSEASI gave up 16Bpts of its trading points, and closed at 24,933.41 from 24,972.89. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, market is 99Bpts below opening while the total lost points in the month of June is now 132Bpts. See the index movement table for details.

The level of indecisiveness around the market increased through today’s trading activities; as most listed equities closed on a flat note, while both gainers’ & losers’ logs shrank. We maintained that a major fundamental boost is required to move the market out of its current trading range; nevertheless, southward movements will create new entries and avail the market the opportunity to challenge its long standing resistance.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N20.561 billion, same as 17Bpts below the opening value. Meanwhile, trading activities for the day produced 09 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 711Bpts while the Market Capitalization Year to Date gain stood at N48.393 billion same as 37Bpts above the year’s opening value.

Leading on the advancers’ log is C&ILeasing that gained 9.52% to close at N4.60 from N4.20. AIICO came next with 8.99% gain to round up trade at N0.97 from N0.89. Mutual Benefit, Oando and May&Baker completed the top 5 price percentage gainers for the day with 4.76%, 4.08% and 1.35% gain respectively.

Fidson Healthcare topped the decliners’ log with 9.71% lost to close at N3.07 from N3.40. Nigerian Breweries and Neimeth followed with 9.52% loss each and closed at N38.00 and N1.71 from 42.00 and N1.89 respectively. Jaiz Bank and NPF-Micro Finance Bank completed the log with 8.96% and 7.28% respectively.

Over the Counter Market Index and capitalisation closed up by adding 70Bpts each, thus they rounded up at 704.76 and N517.69 Billion respectively. SDFWamco and SDNEP are the only advancers as they both closed at N119.88 and N20.94 respectively. No loser was recorded today.

As at the time this report was gathered, Brent Crude sells at 40.90$/bbl, this is 94Bpts above the previous close price.

The I&E FX Window opened at N386.63 traded as high as N389.75 before rounding up at N385.70, having transacted a total of $66.61 million through the day. Please note that, margin between the close and open value is 8Bpts 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 3.70%, same as 5.22% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.80% that is 5.37% 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 Lost Previous Gains, as NSEASI Gives Up 16BPts

Reversing yesterday’s gained points, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer –NSEASI gave up 16Bpts of its trading points, and closed at 24,933.41 from 24,972.89. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, market is 99Bpts below opening while the total lost points in the month of June is now 132Bpts. See the index movement table for details.

The level of indecisiveness around the market increased through today’s trading activities; as most listed equities closed on a flat note, while both gainers’ & losers’ logs shrank. We maintained that a major fundamental boost is required to move the market out of its current trading range; nevertheless, southward movements will create new entries and avail the market the opportunity to challenge its long standing resistance.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N20.561 billion, same as 17Bpts below the opening value. Meanwhile, trading activities for the day produced 09 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 711Bpts while the Market Capitalization Year to Date gain stood at N48.393 billion same as 37Bpts above the year’s opening value.

Leading on the advancers’ log is C&ILeasing that gained 9.52% to close at N4.60 from N4.20. AIICO came next with 8.99% gain to round up trade at N0.97 from N0.89. Mutual Benefit, Oando and May&Baker completed the top 5 price percentage gainers for the day with 4.76%, 4.08% and 1.35% gain respectively.

Fidson Healthcare topped the decliners’ log with 9.71% lost to close at N3.07 from N3.40. Nigerian Breweries and Neimeth followed with 9.52% loss each and closed at N38.00 and N1.71 from 42.00 and N1.89 respectively. Jaiz Bank and NPF-Micro Finance Bank completed the log with 8.96% and 7.28% respectively.

Over the Counter Market Index and capitalisation closed up by adding 70Bpts each, thus they rounded up at 704.76 and N517.69 Billion respectively. SDFWamco and SDNEP are the only advancers as they both closed at N119.88 and N20.94 respectively. No loser was recorded today.

As at the time this report was gathered, Brent Crude sells at 40.90$/bbl, this is 94Bpts above the previous close price.

The I&E FX Window opened at N386.63 traded as high as N389.75 before rounding up at N385.70, having transacted a total of $66.61 million through the day. Please note that, margin between the close and open value is 8Bpts 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 3.70%, same as 5.22% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.80% that is 5.37% 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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