FeaturedMarket Update

Nigerian Equities Market Puts Up a Quick Recovery, Adds 93Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the green, as the lead performance pointer- NSEASI gained 93Bpts and closed at 25,250.20 from 25,016.30. All observed market indices in this report ended above their respective opening prices, as shown in the index movement table. Thus, Week to Date, lead index is 93Bpts above opening while the total lost points in the month of June is now 7BPts. See the index movement table for details.

In a quick recovery from the two days pull back actions, the market was today seen closing good numbers of its blue chip in the positive territory. This is a confirmation of strong traders’ confidence around the equities market. Please understand that, starting from 7th April, 2020, leading trend, as seen on the lead index is an uptrend, which is still intact till date. Nevertheless, it is currently battling a strong resistance and the probability of breaking up the said resistance point is halved. Points of trade at the moment includes; detecting policy impact on equities of choice, and playing by closure dates of various listed equities that recently announced their full year cash dividend. Also, testing equities with March financial year end for dividend payment is an intelligent investment decision.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N121.892 billion, same as 93Bpts below the opening value. Meanwhile, trading activities for the day produced 31 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 593Bpts while the Market Capitalization Year to Date gain stood at N213.491 billion same as 165Bpts above the year’s opening value.

Wapic Assurance led the gainers’ log with 10.00% gain as it rounded up trade at N0.33 from N0.30. Fidson Healthcare followed closely with 9.80% and ended at N3.25 from N2.96. ABC-Transport moved to N0.45 from N0.41. while Neimeth and CHIPLC completed the top 5 price percentage gainers’ list with 9.60% and 9.52% respectively.

Japaul led the lagers’ log with 10.00% as it closed at N0.27 from N0.30. Cornerstone followed with 9.09% loss to close at N0.50 from N0.55. Chams ended at N0.25 from N0.27 while Transcorp and Courtville completed the top 5 price percentage losers’ log with 5.19% and 4.76% respectively.

As at the time this report was gathered, Brent Crude sells at 41.30$/bbl, this is 123Bpts above the previous close price.

The I&E FX Window opened at N387.46 traded as high as N389.75 before rounding up at N387.33, having transacted a total of $14.66 million through the day. Please note that, margin between the close and open value is 21Bpts up. 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 15.42%, same as 1.28% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.50% that is 1.10% 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 Puts Up a Quick Recovery, Adds 93Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the green, as the lead performance pointer- NSEASI gained 93Bpts and closed at 25,250.20 from 25,016.30. All observed market indices in this report ended above their respective opening prices, as shown in the index movement table. Thus, Week to Date, lead index is 93Bpts above opening while the total lost points in the month of June is now 7BPts. See the index movement table for details.

In a quick recovery from the two days pull back actions, the market was today seen closing good numbers of its blue chip in the positive territory. This is a confirmation of strong traders’ confidence around the equities market. Please understand that, starting from 7th April, 2020, leading trend, as seen on the lead index is an uptrend, which is still intact till date. Nevertheless, it is currently battling a strong resistance and the probability of breaking up the said resistance point is halved. Points of trade at the moment includes; detecting policy impact on equities of choice, and playing by closure dates of various listed equities that recently announced their full year cash dividend. Also, testing equities with March financial year end for dividend payment is an intelligent investment decision.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N121.892 billion, same as 93Bpts below the opening value. Meanwhile, trading activities for the day produced 31 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 593Bpts while the Market Capitalization Year to Date gain stood at N213.491 billion same as 165Bpts above the year’s opening value.

Wapic Assurance led the gainers’ log with 10.00% gain as it rounded up trade at N0.33 from N0.30. Fidson Healthcare followed closely with 9.80% and ended at N3.25 from N2.96. ABC-Transport moved to N0.45 from N0.41. while Neimeth and CHIPLC completed the top 5 price percentage gainers’ list with 9.60% and 9.52% respectively.

Japaul led the lagers’ log with 10.00% as it closed at N0.27 from N0.30. Cornerstone followed with 9.09% loss to close at N0.50 from N0.55. Chams ended at N0.25 from N0.27 while Transcorp and Courtville completed the top 5 price percentage losers’ log with 5.19% and 4.76% respectively.

As at the time this report was gathered, Brent Crude sells at 41.30$/bbl, this is 123Bpts above the previous close price.

The I&E FX Window opened at N387.46 traded as high as N389.75 before rounding up at N387.33, having transacted a total of $14.66 million through the day. Please note that, margin between the close and open value is 21Bpts up. 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 15.42%, same as 1.28% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 14.50% that is 1.10% 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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