FeaturedMarket Update

Nigerian Equities Market Maintains Negative Path, Gives Up 28Bpts

Swerving further south, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer-NSEASI gave up 28Bpts to close at 25,424.91 from 25,497.32. Safe NSE-Industrial Goods Index that gained marginal points, other observed market indices in this report closed below their respective openings. Thus, Week to Date, activities index is 71Bpts below opening, while the total gained points in the month of September is now 39Bpts. See the index movement table for details.

The half year earnings season had finally ended, having received the financial performance indexes of all major listed equities with December financial year end. Short term Trading point is the closure dates for both interim and final cash dividend recently announced; meanwhile, in the long term, (at least before the commencement of the third quarter earnings season) performances of economic indicators will contribute majorly to performances, while positioning against the third quarter numbers will grow stronger towards the end of September. On the strength of these, we recommend that traders tread cautiously around the market arena.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N37.774 billion, same as 28Bpts below the opening value. Meanwhile, trading activities for the day produced 07 ADVANCERS and 23 LAGERS. NSEASI Year to Date loss is now 528Bpts while the Market Capitalization Year to Date gain stood at N305.429 billion same as 236Bpts above the year’s opening value.

Leading on the gainers’ log is Fidson Healthcare that added 7.28% and closed at N3.98 from N3.71. Pz Cussons followed on the log with 6.25% gain, thus, it rounded up trade at N4.25 from N4.00. Custodian, FCMB and John Holt completed the top 5 price percentage gainers’ list with 3.13%, 2.73% and 1.82% respectively.

On the flip side, Royal Exchange led with 10.00% loss that closed its price at N0.27 from N0.30. Livestock Feeds followed on the log with 9.09% as it rounded up trade at N0.60 from N0.66. C&ILeasing came next with 8.97% while UACN and Mutual Benefits completed the top 5 price percentage losers’ log with 4.76% loss each.

Over the Counter Market Index and Capitalisation both closed in the green as they both lost 0.19% each, thus they closed at point 721.93 and N530.31 billion respectively. Today’s performance produced one advancer and one decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 40.67$/bbl, this is 224Bpts above the previous close price.

The I&E FX Window opened at N386.46 traded as high as N386.50 before rounding up at N386.00, having transacted a total of $40.43million through the day. Please note that, margin between the close and open value is 5Bpts 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 as 9th September, 2020 closed at 2.38%, same as 0.28% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 9th September, 2020 ended at 1.50% that is 0.20% 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 Maintains Negative Path, Gives Up 28Bpts

Swerving further south, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer-NSEASI gave up 28Bpts to close at 25,424.91 from 25,497.32. Safe NSE-Industrial Goods Index that gained marginal points, other observed market indices in this report closed below their respective openings. Thus, Week to Date, activities index is 71Bpts below opening, while the total gained points in the month of September is now 39Bpts. See the index movement table for details.

The half year earnings season had finally ended, having received the financial performance indexes of all major listed equities with December financial year end. Short term Trading point is the closure dates for both interim and final cash dividend recently announced; meanwhile, in the long term, (at least before the commencement of the third quarter earnings season) performances of economic indicators will contribute majorly to performances, while positioning against the third quarter numbers will grow stronger towards the end of September. On the strength of these, we recommend that traders tread cautiously around the market arena.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N37.774 billion, same as 28Bpts below the opening value. Meanwhile, trading activities for the day produced 07 ADVANCERS and 23 LAGERS. NSEASI Year to Date loss is now 528Bpts while the Market Capitalization Year to Date gain stood at N305.429 billion same as 236Bpts above the year’s opening value.

Leading on the gainers’ log is Fidson Healthcare that added 7.28% and closed at N3.98 from N3.71. Pz Cussons followed on the log with 6.25% gain, thus, it rounded up trade at N4.25 from N4.00. Custodian, FCMB and John Holt completed the top 5 price percentage gainers’ list with 3.13%, 2.73% and 1.82% respectively.

On the flip side, Royal Exchange led with 10.00% loss that closed its price at N0.27 from N0.30. Livestock Feeds followed on the log with 9.09% as it rounded up trade at N0.60 from N0.66. C&ILeasing came next with 8.97% while UACN and Mutual Benefits completed the top 5 price percentage losers’ log with 4.76% loss each.

Over the Counter Market Index and Capitalisation both closed in the green as they both lost 0.19% each, thus they closed at point 721.93 and N530.31 billion respectively. Today’s performance produced one advancer and one decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 40.67$/bbl, this is 224Bpts above the previous close price.

The I&E FX Window opened at N386.46 traded as high as N386.50 before rounding up at N386.00, having transacted a total of $40.43million through the day. Please note that, margin between the close and open value is 5Bpts 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 as 9th September, 2020 closed at 2.38%, same as 0.28% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 9th September, 2020 ended at 1.50% that is 0.20% 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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