FeaturedMarket Update

Nigerian Equities Market Returns to Positive, as NSEASI Adds 13Bpts

Trading activities on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 13Bpts to its trading points and closed at 26,824.50 from 26,790.10. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, Lead activities index is 62Bpts below opening while the total gained points within the month of November is now 178Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N16.603 billion, same as 13Bpts above the opening value.  Meanwhile, trading activities for the day produced 19 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,405Bpts while the Market Capitalization Year to Date gain stood at N1.226 trillion same as 1,046Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is Cadbury that added 10.00% of its previous close price and closed at N9.90 from N9.00. Cutixe followed closely on the log with 9.72% gain as it rounded up trade at N1.58 from N1.44. Glaxo-Smithkline, Union Diagnostic and UACN completed the log with 9.65%, 9.09% and 7.14% respectively.

Menwhile, &I-Leasing led the losers log with 9.85% loss as it rounded up at N5.95 from N6.60. Jaizbank followed on profit taking with 8.70% loss to close at N0.63 from N0.69. others on the top five list are; Livestocks, Afromedia and Dangote Sugar with 7.27%, 5.56% and 4.83% respectively.

Technically, the lead performance index-NSEASI is still in the sell region despite several positive days recorded. This trend is against what we noticed in most blue-chip; please note that most blue-chips are already in an up-trend. We have identified that most banking stocks and good numbers of penny stocks are in this category. Few of those equities are Access Bank, UBA, FBNH, Guaranty Trust Bank, JaizBank, CHIPLC, CCNN, Chams, ContInsure, Cornerstone, amongst others. We therefore maintained that traders should play dividend stocks for medium term and penny stocks for very short term trades.

As at the time this report was gathered, Brent Crude sells at 63.87$/bbl, this is 19Bpts below the previous close price.

The I&E FX Window opened at N362.20 traded as high as N363.40 before rounding up at N362.61, having transacted a total of $109.41 million through the day. Please note that, margin between the close and open value is 1Bpts 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 5.14%, same as 0.93% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 4.43%, that is, 0.86% 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 Returns to Positive, as NSEASI Adds 13Bpts

Trading activities on the floor of The Nigerian Stock Exchange rounded up in the positive territory as the lead performance pointer NSEASI added 13Bpts to its trading points and closed at 26,824.50 from 26,790.10. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, Lead activities index is 62Bpts below opening while the total gained points within the month of November is now 178Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N16.603 billion, same as 13Bpts above the opening value.  Meanwhile, trading activities for the day produced 19 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,405Bpts while the Market Capitalization Year to Date gain stood at N1.226 trillion same as 1,046Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is Cadbury that added 10.00% of its previous close price and closed at N9.90 from N9.00. Cutixe followed closely on the log with 9.72% gain as it rounded up trade at N1.58 from N1.44. Glaxo-Smithkline, Union Diagnostic and UACN completed the log with 9.65%, 9.09% and 7.14% respectively.

Menwhile, &I-Leasing led the losers log with 9.85% loss as it rounded up at N5.95 from N6.60. Jaizbank followed on profit taking with 8.70% loss to close at N0.63 from N0.69. others on the top five list are; Livestocks, Afromedia and Dangote Sugar with 7.27%, 5.56% and 4.83% respectively.

Technically, the lead performance index-NSEASI is still in the sell region despite several positive days recorded. This trend is against what we noticed in most blue-chip; please note that most blue-chips are already in an up-trend. We have identified that most banking stocks and good numbers of penny stocks are in this category. Few of those equities are Access Bank, UBA, FBNH, Guaranty Trust Bank, JaizBank, CHIPLC, CCNN, Chams, ContInsure, Cornerstone, amongst others. We therefore maintained that traders should play dividend stocks for medium term and penny stocks for very short term trades.

As at the time this report was gathered, Brent Crude sells at 63.87$/bbl, this is 19Bpts below the previous close price.

The I&E FX Window opened at N362.20 traded as high as N363.40 before rounding up at N362.61, having transacted a total of $109.41 million through the day. Please note that, margin between the close and open value is 1Bpts 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 5.14%, same as 0.93% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 4.43%, that is, 0.86% 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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