FeaturedMarket Update

Nigerian Equities Market Resists Bearish Move, as NSEASI Adds 75Bpts-Day 2 Running

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 75Bpts and closed at 24,278.07 from 24,097.48. Meanwhile, Safe NSE-Consumer Goods and NSE-Oil & Gas Index that shed points,  other observed market indices in this report closed above their respective openings. Week to Date, activities index is 24Bpts below opening, while the total lost points in the month of July is 82Bpts. See the index movement table for details.

After a long days of bearish moves, market seems to have presented investors with few attractive prices, thus, traders were seen re-accessing some of such stocks, especially in the banking sub-sector. Recall that a report this week confirmed that both Zenith Bank and Gtbank were planning to maintain half year dividend policy, despite low activities during the partial lockdown; we are of the opinion that this may have rekindled investors’ interest in listed equities with half year interim dividend policies. Nevertheless, we maintained that, traders should practice heightened cautiousness around the market.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N94.205 billion, same as 75Bpts above the opening value. Meanwhile, trading activities for the day produced 25 ADVANCERS and 08 LAGERS. NSEASI Year to Date loss is now 955Bpts while the Market Capitalization Year to Date loss stood at N293.500 billion same as 226Bpts below the year’s opening value.

Wapco led the advancers’ log with 10.00% gain as it rounded up today’s trade at N11.00 from N10.00. Julius Berger followed on the log with 9.90% to close at N17.20 from N15.65. Linkage Assurance, Regency Alliance and RedStar Express completed the top 5 price percentage gainers’ log with 9.30%, 9.09% and 8.90% gain respectively.

Meanwhile, Berger paints led the losers’ log with 9.63% as it ended at N6.10 from N6.75. Caverton followed with 4.40% to close at N1.74 from N1.82. ETI, Flour Mill and Oando completed the top 5 price percentage losers’ log with 4.17%, 2.70% and 2.17% loss respectively.

Over the Counter Market Index and Capitalisation both lost 0.50% each, thus, they both rounded up at point 708.20 and N520.22 billion respectively. No listed equities gained while CSCS PLC lost 4.00% to close at N13.01 from N13.53.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.37$/bbl, this is 67Bpts above the previous close price.

The I&E FX Window opened at N387.32 traded as high as N390.00 before rounding up at N386.75, having transacted a total of $11.96 million through the day. Please note that, margin between the close and open value is 6Bpts 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 21.00%, same as 0.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 20.00% that is 0.25% above 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 Resists Bearish Move, as NSEASI Adds 75Bpts-Day 2 Running

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 75Bpts and closed at 24,278.07 from 24,097.48. Meanwhile, Safe NSE-Consumer Goods and NSE-Oil & Gas Index that shed points,  other observed market indices in this report closed above their respective openings. Week to Date, activities index is 24Bpts below opening, while the total lost points in the month of July is 82Bpts. See the index movement table for details.

After a long days of bearish moves, market seems to have presented investors with few attractive prices, thus, traders were seen re-accessing some of such stocks, especially in the banking sub-sector. Recall that a report this week confirmed that both Zenith Bank and Gtbank were planning to maintain half year dividend policy, despite low activities during the partial lockdown; we are of the opinion that this may have rekindled investors’ interest in listed equities with half year interim dividend policies. Nevertheless, we maintained that, traders should practice heightened cautiousness around the market.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N94.205 billion, same as 75Bpts above the opening value. Meanwhile, trading activities for the day produced 25 ADVANCERS and 08 LAGERS. NSEASI Year to Date loss is now 955Bpts while the Market Capitalization Year to Date loss stood at N293.500 billion same as 226Bpts below the year’s opening value.

Wapco led the advancers’ log with 10.00% gain as it rounded up today’s trade at N11.00 from N10.00. Julius Berger followed on the log with 9.90% to close at N17.20 from N15.65. Linkage Assurance, Regency Alliance and RedStar Express completed the top 5 price percentage gainers’ log with 9.30%, 9.09% and 8.90% gain respectively.

Meanwhile, Berger paints led the losers’ log with 9.63% as it ended at N6.10 from N6.75. Caverton followed with 4.40% to close at N1.74 from N1.82. ETI, Flour Mill and Oando completed the top 5 price percentage losers’ log with 4.17%, 2.70% and 2.17% loss respectively.

Over the Counter Market Index and Capitalisation both lost 0.50% each, thus, they both rounded up at point 708.20 and N520.22 billion respectively. No listed equities gained while CSCS PLC lost 4.00% to close at N13.01 from N13.53.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.37$/bbl, this is 67Bpts above the previous close price.

The I&E FX Window opened at N387.32 traded as high as N390.00 before rounding up at N386.75, having transacted a total of $11.96 million through the day. Please note that, margin between the close and open value is 6Bpts 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 21.00%, same as 0.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 20.00% that is 0.25% above 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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