FeaturedMarket Update

Nigerian Equities Market Maintains Positive Path as NSEASI Adds 138Bpts

Maintaining bullish moves, equities trading on the floor of The Nigerian Stock Exchange rounded up the first day of the week in the green, as the lead performance pointer NSEASI added 138Bpts and closed at 27,339.68 from 26,968.79. All market indices observed in this report ended above their respective opening points. Thus, Week to Date market is 138Bpts above the opening point, while the total gained points in the month of January, is now 185Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N179.055 billion, same as 138Bpts above the opening value.  Meanwhile, trading activities for the day produced 30 ADVANCERS and 13 LAGERS. NSEASI Year to Date gain is now 185Bpts while the Market Capitalization Year to Date gain stood at N240.228 billion same as 185Bpts above the year’s opening value.

Leading on the advancers’ log is FCMB-Holdings with 10.00% gain that closed the stock at N2.09 from N1.90. Cornerstone Insurance followed on the list with 9.43% gain.  Unity Bank, Wemabank and Courtville completed the top 5 price percentage gainers’ log with 8.96%, 8.82% and 8.33% respectively.

On the other hand, the Decliners’ log was led by Pz-Cussons that lost 9.73% of its previous close price, thus it rounded up at N5.10 from N5.65.  Niger Insurance and Union Diagnostic followed on the list with 9.09% loss each, while CHIPLC and Fidson Healthcare respectively completed the top 5 list with 8.33% and 5.56%.

So far the year had been generally bullish, as good numbers of listed equities are currently excited by investors anticipating positive economic performance, starting from the first quarter of 2020. Expectations are enhanced by the early passage of the 2020 budget, expected income boost from the boarder closure, expected full year earnings of listed equities with December, financial year amongst others. Nevertheless, many are of the opinion that the recent rift between the US and Iran may signal panic to emerging markets, we are of the opinion that will rather impact Nigerian economy positively, in terms of increase in oil price and attraction to the nation’s MPR.

As at the time this report was gathered, Brent Crude sells at 63.14$/bbl, this is 26Bpts above the previous close price.

The I&E FX Window opened at N364.25 traded as high as N365.50 before rounding up at N364.57, having transacted a total of $251.01 million through the day. Please note that, margin between the close and open value is 11Bpts loss. 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 2.93%, same as 0.14% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.20%, that is, 0.07% 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 Positive Path as NSEASI Adds 138Bpts

Maintaining bullish moves, equities trading on the floor of The Nigerian Stock Exchange rounded up the first day of the week in the green, as the lead performance pointer NSEASI added 138Bpts and closed at 27,339.68 from 26,968.79. All market indices observed in this report ended above their respective opening points. Thus, Week to Date market is 138Bpts above the opening point, while the total gained points in the month of January, is now 185Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N179.055 billion, same as 138Bpts above the opening value.  Meanwhile, trading activities for the day produced 30 ADVANCERS and 13 LAGERS. NSEASI Year to Date gain is now 185Bpts while the Market Capitalization Year to Date gain stood at N240.228 billion same as 185Bpts above the year’s opening value.

Leading on the advancers’ log is FCMB-Holdings with 10.00% gain that closed the stock at N2.09 from N1.90. Cornerstone Insurance followed on the list with 9.43% gain.  Unity Bank, Wemabank and Courtville completed the top 5 price percentage gainers’ log with 8.96%, 8.82% and 8.33% respectively.

On the other hand, the Decliners’ log was led by Pz-Cussons that lost 9.73% of its previous close price, thus it rounded up at N5.10 from N5.65.  Niger Insurance and Union Diagnostic followed on the list with 9.09% loss each, while CHIPLC and Fidson Healthcare respectively completed the top 5 list with 8.33% and 5.56%.

So far the year had been generally bullish, as good numbers of listed equities are currently excited by investors anticipating positive economic performance, starting from the first quarter of 2020. Expectations are enhanced by the early passage of the 2020 budget, expected income boost from the boarder closure, expected full year earnings of listed equities with December, financial year amongst others. Nevertheless, many are of the opinion that the recent rift between the US and Iran may signal panic to emerging markets, we are of the opinion that will rather impact Nigerian economy positively, in terms of increase in oil price and attraction to the nation’s MPR.

As at the time this report was gathered, Brent Crude sells at 63.14$/bbl, this is 26Bpts above the previous close price.

The I&E FX Window opened at N364.25 traded as high as N365.50 before rounding up at N364.57, having transacted a total of $251.01 million through the day. Please note that, margin between the close and open value is 11Bpts loss. 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 2.93%, same as 0.14% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.20%, that is, 0.07% 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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