FeaturedMarket Update

Nigerian Equities Market Maintains Positive Ride, Adds 77Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 77Bpts to its trading points and closed at 23,892.92 from 23,709.44. Safe NSE-Insurance Index that shed points, other observed market indices in this report closed above their respective opening points. Thus, Week to Date, lead index is 63Bpts below opening while the total gained points in the month of May is now 379Bpts. See the index movements table for details.

Starting from yesterday’s mild recovery, market struggled towards positive path, as buying interest improved through today’s trading session. Further boosting performance are impressive full year/first quarter numbers released during the week. Nevertheless, as noted in our previous reports, we maintained that at the end of the on-going first quarter earnings season, market will play mostly by economic fundamentals, while few equities yet to be adjusted for full year dividend (recently announced) will experience short rallies towards their respective closure dates.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N95.539 billion, same as 77Bpts above the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 14 LAGERS. NSEASI Year to Date loss is now 1,099Bpts while the Market Capitalization Year to Date loss stood at N6517.184 billion same as 399Bpts below the year’s opening value.

Fidson led the advancers’ log with 9.62% as it closed at N2.62 from N2.39. NPFMCRFBK followed on the log with 9.46% to round up trade at N1.62 from N1.48. others on the price percentage gainers’ log are; May&Baker, FCMB and Regalins with 5.78%, 5.26% and 5.00% gain respectively.

Losers log on the other hand was topped by Custodian with 9.52% to close at N5.70 from N6.30. Unity Bank followed with 8.33% and ended the day’s trade atN0.44 from N0.48. AIICO, Nem Insurance and Likage Assurance completed the list with 7.53%, 7.41% and 6.82% respectively.

 

As at the time this report was gathered, Brent Crude sells at 26.13$/bbl, this is 179Bpts above the previous close price.

 

The I&E FX Window opened at N385.83 traded as high as N401.95 before rounding up at N386.58, having transacted a total of $44.87 million through the day. Please note that, margin between the close and open value is 9Bpts 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 4.40%, same as 3.23% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.60% that is 3.40% 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 Ride, Adds 77Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 77Bpts to its trading points and closed at 23,892.92 from 23,709.44. Safe NSE-Insurance Index that shed points, other observed market indices in this report closed above their respective opening points. Thus, Week to Date, lead index is 63Bpts below opening while the total gained points in the month of May is now 379Bpts. See the index movements table for details.

Starting from yesterday’s mild recovery, market struggled towards positive path, as buying interest improved through today’s trading session. Further boosting performance are impressive full year/first quarter numbers released during the week. Nevertheless, as noted in our previous reports, we maintained that at the end of the on-going first quarter earnings season, market will play mostly by economic fundamentals, while few equities yet to be adjusted for full year dividend (recently announced) will experience short rallies towards their respective closure dates.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N95.539 billion, same as 77Bpts above the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 14 LAGERS. NSEASI Year to Date loss is now 1,099Bpts while the Market Capitalization Year to Date loss stood at N6517.184 billion same as 399Bpts below the year’s opening value.

Fidson led the advancers’ log with 9.62% as it closed at N2.62 from N2.39. NPFMCRFBK followed on the log with 9.46% to round up trade at N1.62 from N1.48. others on the price percentage gainers’ log are; May&Baker, FCMB and Regalins with 5.78%, 5.26% and 5.00% gain respectively.

Losers log on the other hand was topped by Custodian with 9.52% to close at N5.70 from N6.30. Unity Bank followed with 8.33% and ended the day’s trade atN0.44 from N0.48. AIICO, Nem Insurance and Likage Assurance completed the list with 7.53%, 7.41% and 6.82% respectively.

 

As at the time this report was gathered, Brent Crude sells at 26.13$/bbl, this is 179Bpts above the previous close price.

 

The I&E FX Window opened at N385.83 traded as high as N401.95 before rounding up at N386.58, having transacted a total of $44.87 million through the day. Please note that, margin between the close and open value is 9Bpts 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 4.40%, same as 3.23% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.60% that is 3.40% 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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