FeaturedMarket Update

Nigerian Equities Market Maintained Positive Path as Market Cap YtD Turned Green

The market observed two days public holiday, as approved by the federal government, to celebrate Eid-al-Fitr, equities trading on the floor of the Nigerian Stock Exchange commenced the first trading day of the week with a marginal gain; thus, the lead performance pointer-NSEASI added 7Bpts and closed at 25,221.29 from 25,204.75. It was a mixed performance amongst the observed market indices as shown in the index movements table. Week to Date, activities index is 7Bpts above opening while the total gained points in the month of May is now 956BPts. See the index movement table for details.

After the recent positive moves, market now approaches a major support turned resistance point, this simply means that, profit taking activities may set in. Please understand that, a reversal pattern was formed on all technical charts at the end of today’s trading activities, this further backed up the fact that positive momentum may slow from tomorrow. Fundamentally, we maintained that traders should work by half year earnings expectations, along with the federal government policy direction/effect on market performance.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N8.588 billion, same as 7Bpts above the opening value. Meanwhile, trading activities for the day produced 32 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 604Bpts while the Market Capitalization Year to Date gain stood at N185.73 million same as 143Bpts below the year’s opening value.

Nigerian Breweries led the advancers’ log with 10.00%, as it closed at N43.45 from N39.50. Stanbic IBTC followed closely with 9.98% gain, thus it rounded up at N35.80 from N32.55. May&Baker, Glaxo-Smithkline and Access Bank completed the log with 9.96%, 9.79% and 9.70% respectively.

On the other hand, Ardova led the decliners’ log with 10.00% loss, as it closed at N14.40 from N16.00. Regency Alliance came next with 8.70% loss, thus it closed at N0.21 from N0.23. Afro-Media, Transcorp and Wapic completed the top 5 price percentage losers’ log with 7.14%, 6.49% and 6.06% respectively.

As at the time this report was gathered, Brent Crude sells at 34.07$/bbl, this is 321Bpts above the previous close price.

The I&E FX Window opened at N386.52 traded as high as N395.75 before rounding up at N385.94, having transacted a total of $31.38 million through the day. Please note that, margin between the close and open value is 0Bpts flat. 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 15.60%, same as 0.03% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00% that is 0.00% 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 Maintained Positive Path as Market Cap YtD Turned Green

The market observed two days public holiday, as approved by the federal government, to celebrate Eid-al-Fitr, equities trading on the floor of the Nigerian Stock Exchange commenced the first trading day of the week with a marginal gain; thus, the lead performance pointer-NSEASI added 7Bpts and closed at 25,221.29 from 25,204.75. It was a mixed performance amongst the observed market indices as shown in the index movements table. Week to Date, activities index is 7Bpts above opening while the total gained points in the month of May is now 956BPts. See the index movement table for details.

After the recent positive moves, market now approaches a major support turned resistance point, this simply means that, profit taking activities may set in. Please understand that, a reversal pattern was formed on all technical charts at the end of today’s trading activities, this further backed up the fact that positive momentum may slow from tomorrow. Fundamentally, we maintained that traders should work by half year earnings expectations, along with the federal government policy direction/effect on market performance.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N8.588 billion, same as 7Bpts above the opening value. Meanwhile, trading activities for the day produced 32 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 604Bpts while the Market Capitalization Year to Date gain stood at N185.73 million same as 143Bpts below the year’s opening value.

Nigerian Breweries led the advancers’ log with 10.00%, as it closed at N43.45 from N39.50. Stanbic IBTC followed closely with 9.98% gain, thus it rounded up at N35.80 from N32.55. May&Baker, Glaxo-Smithkline and Access Bank completed the log with 9.96%, 9.79% and 9.70% respectively.

On the other hand, Ardova led the decliners’ log with 10.00% loss, as it closed at N14.40 from N16.00. Regency Alliance came next with 8.70% loss, thus it closed at N0.21 from N0.23. Afro-Media, Transcorp and Wapic completed the top 5 price percentage losers’ log with 7.14%, 6.49% and 6.06% respectively.

As at the time this report was gathered, Brent Crude sells at 34.07$/bbl, this is 321Bpts above the previous close price.

The I&E FX Window opened at N386.52 traded as high as N395.75 before rounding up at N385.94, having transacted a total of $31.38 million through the day. Please note that, margin between the close and open value is 0Bpts flat. 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 15.60%, same as 0.03% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00% that is 0.00% 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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