FeaturedMarket Update

Nigerian Equities Market Maintained Recovery, Adds 46Bpts: 23/01/19

Reversing to profit line, equities trading on the floor of The Nigerian Stock Exchange added 46Bpts to its trading points and rounded up trade at 30,878.56 from 30,736.88. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date, the lead activities index is down by 41Bpts while the total lost points in the month of January is now 176Bpts. See the index movement table for details.

Value added by the market capitalization of the listed equities during today’s trading activities was N52.833 billion, same as 46Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 176Bpts while the Market Capitalization Year to Date loss stood at N205.842 million same as 176Bpts below the year’s opening value.

The reversal pattern identified (Doji) yesterday was finally confirmed during today’s trading activities, as the market took a quick reversal from the profit taking induced loss, posted two trading days prior. This is coming after the MPC meeting that left all rates at status quo. Please note that the next expected major economic indicator is the GDP for the last quarter of 2018, and it is due for release on 13th February, 2019. Nevertheless, taking advantage of equities low prices while positioning against the full year earnings remained an intelligent investment decision. Undoubtedly, the banking sub-sector should be considered, as most listed equities in the sector stand a good chance of positing improved performance indices and fulfill investors’ expectations on dividend payment.

As at the time we compiled this report, Brent Crude trades at $60.84/bbl having gained 0.30% below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.85 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N362.44 traded as high as N364.00 before rounding up at N362.58, having transacted a total of $334.34 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts 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 15.67%, same as 3.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00%, that is, 2.50% 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 Recovery, Adds 46Bpts: 23/01/19

Reversing to profit line, equities trading on the floor of The Nigerian Stock Exchange added 46Bpts to its trading points and rounded up trade at 30,878.56 from 30,736.88. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date, the lead activities index is down by 41Bpts while the total lost points in the month of January is now 176Bpts. See the index movement table for details.

Value added by the market capitalization of the listed equities during today’s trading activities was N52.833 billion, same as 46Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 176Bpts while the Market Capitalization Year to Date loss stood at N205.842 million same as 176Bpts below the year’s opening value.

The reversal pattern identified (Doji) yesterday was finally confirmed during today’s trading activities, as the market took a quick reversal from the profit taking induced loss, posted two trading days prior. This is coming after the MPC meeting that left all rates at status quo. Please note that the next expected major economic indicator is the GDP for the last quarter of 2018, and it is due for release on 13th February, 2019. Nevertheless, taking advantage of equities low prices while positioning against the full year earnings remained an intelligent investment decision. Undoubtedly, the banking sub-sector should be considered, as most listed equities in the sector stand a good chance of positing improved performance indices and fulfill investors’ expectations on dividend payment.

As at the time we compiled this report, Brent Crude trades at $60.84/bbl having gained 0.30% below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.85 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N362.44 traded as high as N364.00 before rounding up at N362.58, having transacted a total of $334.34 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts 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 15.67%, same as 3.42% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00%, that is, 2.50% 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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