FeaturedMarket Update

Nigerian Equities Market Maintains Upbeat, Adds 14Bpts: 05/03/19

Completing three straight green days, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory. The lead performance pointer NSEASI closed at 32,173.66 from 32,129.94, thus, total gained point through the day’s trade was 14Bpts. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is up by 109Bpts while the total gained point within the new month is now 142Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N16.303 billion, same as 14Bpts above the opening value.  Meanwhile, trading activities for the day produced 14 ADVANCERS and 17 LAGERS. NSEASI Year to Date gain is now 236Bpts while the Market Capitalization Year to Date gain stood at N277.337 billion same as 237Bpts above the year’s opening value.

The management of Nestle Foods today, dazed the market with its audited financial performance indices, for the year ended 31st December, 2018. In the report it proposed a final dividend of N38.50, this is in addition to the N20.00 interim dividend previously paid. Meanwhile the result was a 9% growth in Revenue from N244.151 billion to N266.274 billion. Profit for the year improved by 28% as it is currently estimated at N43.008 billion as against the N33.723 billion reported in corresponding year. It also improved Total Equity by 12% as the index is currently valued for N50.220 billion (2017-N44.878 billion). As noted in our previous reports, we foresee the market gathering strength from various financial statistics, starting next trading week; thus, we recommended a timely position against the earnings season pick.

As at the time we compiled this report, Brent Crude trades at $65.38/bbl having loss 0.48% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N306.90 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.70 traded as high as N362.10 before rounding up at N360.77, having transacted a total of $959.02 million through the day. Please note that, margin between the close and open value is an equivalent of 6Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 10.42%, same as 4.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 9.33%, that is, 4.67% 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 Upbeat, Adds 14Bpts: 05/03/19

Completing three straight green days, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory. The lead performance pointer NSEASI closed at 32,173.66 from 32,129.94, thus, total gained point through the day’s trade was 14Bpts. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is up by 109Bpts while the total gained point within the new month is now 142Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N16.303 billion, same as 14Bpts above the opening value.  Meanwhile, trading activities for the day produced 14 ADVANCERS and 17 LAGERS. NSEASI Year to Date gain is now 236Bpts while the Market Capitalization Year to Date gain stood at N277.337 billion same as 237Bpts above the year’s opening value.

The management of Nestle Foods today, dazed the market with its audited financial performance indices, for the year ended 31st December, 2018. In the report it proposed a final dividend of N38.50, this is in addition to the N20.00 interim dividend previously paid. Meanwhile the result was a 9% growth in Revenue from N244.151 billion to N266.274 billion. Profit for the year improved by 28% as it is currently estimated at N43.008 billion as against the N33.723 billion reported in corresponding year. It also improved Total Equity by 12% as the index is currently valued for N50.220 billion (2017-N44.878 billion). As noted in our previous reports, we foresee the market gathering strength from various financial statistics, starting next trading week; thus, we recommended a timely position against the earnings season pick.

As at the time we compiled this report, Brent Crude trades at $65.38/bbl having loss 0.48% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N306.90 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.70 traded as high as N362.10 before rounding up at N360.77, having transacted a total of $959.02 million through the day. Please note that, margin between the close and open value is an equivalent of 6Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 10.42%, same as 4.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 9.33%, that is, 4.67% 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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