FeaturedMarket Update

Nigerian Equities Market Lost Records Highest Lost in the Year: 9/01/19

Equities trading on the floor of The Nigerian Stock Exchange received another heavy blow from the bear as the lead performance pointer-NSEASI dipped by 233Bpts to round up trade at 29,366.80 from 30,036.15. Three (3) of the observed market indices added points while others closed below their respective opening points. Thus, the total lost points in the current week is now 425Bpts while Month to Date loss increased to 666Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N260.792 billion, same as 233Bpts below the opening value.  Meanwhile, trading activities for the day produced 14 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 6.66% while the Market Capitalization Year to Date loss stood at N780.760 million same as 6.66% below the year’s opening value.

Although today’s heavy loss was mainly enhanced by few highly capitalized equities that dipped; the fact remains that, the market has maintained bearish position for six (6) consecutive trading days. The beauty of these moves is the predictive end of the negative fundamental currently empowering the bear. In other words, positioning against the end of the political saga is an intelligent investment decision. Nevertheless, stop pick should strictly consider the possible outcome of the expected full year financial performances. Note that, the release of same is likely to coincide with market projected recovery from the ongoing negative trend.

As at the time we compiled this report, Brent Crude trades at $60.91/bbl having gained 0.53% below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.90 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N365.30 traded as high as N366.75 before rounding up at N364.90, having transacted a total of $292.50 million through the day. Please note that, margin between the close and open value is an equivalent of 27Bpts 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 27.67%, same as 0.42% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 26.67%, that is, 1.67% 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 Lost Records Highest Lost in the Year: 9/01/19

Equities trading on the floor of The Nigerian Stock Exchange received another heavy blow from the bear as the lead performance pointer-NSEASI dipped by 233Bpts to round up trade at 29,366.80 from 30,036.15. Three (3) of the observed market indices added points while others closed below their respective opening points. Thus, the total lost points in the current week is now 425Bpts while Month to Date loss increased to 666Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N260.792 billion, same as 233Bpts below the opening value.  Meanwhile, trading activities for the day produced 14 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 6.66% while the Market Capitalization Year to Date loss stood at N780.760 million same as 6.66% below the year’s opening value.

Although today’s heavy loss was mainly enhanced by few highly capitalized equities that dipped; the fact remains that, the market has maintained bearish position for six (6) consecutive trading days. The beauty of these moves is the predictive end of the negative fundamental currently empowering the bear. In other words, positioning against the end of the political saga is an intelligent investment decision. Nevertheless, stop pick should strictly consider the possible outcome of the expected full year financial performances. Note that, the release of same is likely to coincide with market projected recovery from the ongoing negative trend.

As at the time we compiled this report, Brent Crude trades at $60.91/bbl having gained 0.53% below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.90 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N365.30 traded as high as N366.75 before rounding up at N364.90, having transacted a total of $292.50 million through the day. Please note that, margin between the close and open value is an equivalent of 27Bpts 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 27.67%, same as 0.42% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 26.67%, that is, 1.67% 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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