FeaturedMarket Update

Nigerian Equities Market Maintains Side-Way Trend, Chokes Portfolios Further

In another negative move, equities trading on the floor of The Nigerian Stock Exchange ended in the red, as the lead performance pointer–NSEASI gave up 29Bpts of its trading points, and closed at 24,753.89 from 24,826.75. Safe NSE-Consumer goods and NSE-Lotus II Indexes that gained, other observed market indices in this report lost. Thus, Week to Date, market is 29Bpts below opening while the total lost points in the month of June is now 203Bpts. See the index movement table for details.

Traders remained cautious through today’s trading activities; good numbers of blue chip were priced down, in anticipation of lower half year numbers. Technically, market trade within a very narrow gap, thus, it will be difficult to exit any trade done within the past 18 trading days back with profit. In our opinion, traders’ may start playing equities set to released full year 2019 numbers, as this will show little or no impact of the pandemic. Kindly trade accordingly.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N38.022 billion, same as 29Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 778Bpts while the Market Capitalization Year to Date gain stood at N45.269 billion same as 35Bpts above the year’s opening value.

Leading on the advancers’ log is Japaul Oil that gained 8.70% to close at N0.25 from N0.23. Nestle Foods came next with 7.72% gain to round up trade at N1,179.00 from N1,094.50. Fidson, Sterling Bank and Unity Bank completed the top 5 price percentage gainers for the day with 7.49%, 6.67% and 5.26% gain respectively.

Neimeth led the decliners’ log with 9.74% to close at N1.39 from N1.54. Cutix followed on the log with 9.09% and rounded up at N1.60 from N1.76. Honey Flour, Stanbic IBTC and Chams came next with 8.33% lost each while Chams completed the top 5 price percentage losers with 8.00%. See the top performers’ log for details.

Over the Counter Market Index and Capitalisation closed down by giving up 53Bpts each, thus they rounded up at point 701.01 and N514.94 Billion respectively. No equity gained through today’s trade while only SDCSCSPLC closed down by 4.23%, thus, it rounded up at N13.00 from N13.55. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.05$/bbl, this is 7Bpts below the previous close price.

The I&E FX Window opened at N386.83 traded as high as N389.75 before rounding up at N386.00, having transacted a total of $63.44 million through the day. Please note that, margin between the close and open value is 13Bpts 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 15.75%, same as 0.92% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.50% that is 0.67% 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 Maintains Side-Way Trend, Chokes Portfolios Further

In another negative move, equities trading on the floor of The Nigerian Stock Exchange ended in the red, as the lead performance pointer–NSEASI gave up 29Bpts of its trading points, and closed at 24,753.89 from 24,826.75. Safe NSE-Consumer goods and NSE-Lotus II Indexes that gained, other observed market indices in this report lost. Thus, Week to Date, market is 29Bpts below opening while the total lost points in the month of June is now 203Bpts. See the index movement table for details.

Traders remained cautious through today’s trading activities; good numbers of blue chip were priced down, in anticipation of lower half year numbers. Technically, market trade within a very narrow gap, thus, it will be difficult to exit any trade done within the past 18 trading days back with profit. In our opinion, traders’ may start playing equities set to released full year 2019 numbers, as this will show little or no impact of the pandemic. Kindly trade accordingly.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N38.022 billion, same as 29Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 778Bpts while the Market Capitalization Year to Date gain stood at N45.269 billion same as 35Bpts above the year’s opening value.

Leading on the advancers’ log is Japaul Oil that gained 8.70% to close at N0.25 from N0.23. Nestle Foods came next with 7.72% gain to round up trade at N1,179.00 from N1,094.50. Fidson, Sterling Bank and Unity Bank completed the top 5 price percentage gainers for the day with 7.49%, 6.67% and 5.26% gain respectively.

Neimeth led the decliners’ log with 9.74% to close at N1.39 from N1.54. Cutix followed on the log with 9.09% and rounded up at N1.60 from N1.76. Honey Flour, Stanbic IBTC and Chams came next with 8.33% lost each while Chams completed the top 5 price percentage losers with 8.00%. See the top performers’ log for details.

Over the Counter Market Index and Capitalisation closed down by giving up 53Bpts each, thus they rounded up at point 701.01 and N514.94 Billion respectively. No equity gained through today’s trade while only SDCSCSPLC closed down by 4.23%, thus, it rounded up at N13.00 from N13.55. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.05$/bbl, this is 7Bpts below the previous close price.

The I&E FX Window opened at N386.83 traded as high as N389.75 before rounding up at N386.00, having transacted a total of $63.44 million through the day. Please note that, margin between the close and open value is 13Bpts 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 15.75%, same as 0.92% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.50% that is 0.67% 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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