FeaturedMarket Update

Nigerian Equities Market Maintains Recovery, Adds 14Bpts

Trading activities on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer, NSEASI added 14Bpts and closed at 26,776.15 from 26,739.52. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 28Bpts below opening while the total gained points in the month of November is now 160Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N17.719 billion, same as 14Bpts above the opening value.  Meanwhile, trading activities for the day produced 24 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 1,481Bpts while the Market Capitalization Year to Date gain stood at N1.202 trillion same as 1,026Bpts above the year’s opening value.

Leading the price percentage gainers’ log is  Chams Plc that gained 10.00% of its previous close price to close at N0.33 from N0.30. Learn Africa followed with 9.48% gain as it rounded up at N1.27 from N1.16. Conoil, Cornerstone and NPFNCRFBK completed the top 5 list with 9.47%, 9.37% and 9.09% respectively.

Meanwhile, NASCON led the decliners’ log with 5.72% as it closed at N14.00 from N14.85. Lasaco followed with 3.57% as it closed at N0.27 from N0.28.  Wapic, Unity Bank and AIICO completed the log with 2.86%, 2.78% and 2.74% respectively.

As noted in our previous reports, recent policies by the CBN along other moves by the exchange and other stakeholders should increase liquidity around the equities market. Although market may consistently experience short-lived recovery moves, in our opinion, such is typical of a recovering market. Buying interest remain strong in most listed equities although the lead performance pointer may not reflect the same posture always, we conclude that traders should take timely advantage of low priced equities and play dividend stocks accordingly.

As at the time this report was gathered, Brent Crude sells at 62.32$/bbl, this is 132Bpts ABOVE the previous close price.

The I&E FX Window opened at N362.25 traded as high as N363.00 before rounding up at N362.52, having transacted a total of $233.65 million through the day. Please note that, margin between the close and open value is 8Bpts 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 16.50%, same as 1.93% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.57%, that is, 2.00% 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 Recovery, Adds 14Bpts

Trading activities on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer, NSEASI added 14Bpts and closed at 26,776.15 from 26,739.52. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 28Bpts below opening while the total gained points in the month of November is now 160Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N17.719 billion, same as 14Bpts above the opening value.  Meanwhile, trading activities for the day produced 24 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 1,481Bpts while the Market Capitalization Year to Date gain stood at N1.202 trillion same as 1,026Bpts above the year’s opening value.

Leading the price percentage gainers’ log is  Chams Plc that gained 10.00% of its previous close price to close at N0.33 from N0.30. Learn Africa followed with 9.48% gain as it rounded up at N1.27 from N1.16. Conoil, Cornerstone and NPFNCRFBK completed the top 5 list with 9.47%, 9.37% and 9.09% respectively.

Meanwhile, NASCON led the decliners’ log with 5.72% as it closed at N14.00 from N14.85. Lasaco followed with 3.57% as it closed at N0.27 from N0.28.  Wapic, Unity Bank and AIICO completed the log with 2.86%, 2.78% and 2.74% respectively.

As noted in our previous reports, recent policies by the CBN along other moves by the exchange and other stakeholders should increase liquidity around the equities market. Although market may consistently experience short-lived recovery moves, in our opinion, such is typical of a recovering market. Buying interest remain strong in most listed equities although the lead performance pointer may not reflect the same posture always, we conclude that traders should take timely advantage of low priced equities and play dividend stocks accordingly.

As at the time this report was gathered, Brent Crude sells at 62.32$/bbl, this is 132Bpts ABOVE the previous close price.

The I&E FX Window opened at N362.25 traded as high as N363.00 before rounding up at N362.52, having transacted a total of $233.65 million through the day. Please note that, margin between the close and open value is 8Bpts 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 16.50%, same as 1.93% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.57%, that is, 2.00% 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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