FeaturedMarket Update

Nigerian Equities Market Slows Southward Moves as NSEASI Shed 9Bpts

Slowing down bearish moves, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, thus, the lead performance pointer- NSEASI gave up marginal 9Bpts and closed at 24,930.88 from 24,954.32. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, week to Date, All Share Index is 100Bpts below opening while the total lost points in the month of June increased to 133Bpts. See the index movement table for details.

Having broken the consolidation line, the market rounded up today’s trading activities at 0.20% below the lower Bollinger band; meanwhile, Bollinger Bands are about 79.10% narrower than normal. Please understand that, narrow Bollinger bands suggested a low volatility, and implied an urgent need for the market to move either way (up or down). Meanwhile, since price closed below the lower Bollinger band at the end of today’s trading activities, the probability of an upward move has increased from the next trading day. Please understand that, the major breakthrough will only be achieved when the long resistance currently keeping the market down is finally overcome.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N12.192 billion, same as 9Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 712Bpts while the Market Capitalization Year to Date gain stood at N47.076 billion same as 36Bpts above the year’s opening value.

 

For the second time within the week, Fidson Healthcare led the advancers’ log with 10.00%, thus it closed at N3.63 from N3.30. SkyAvn followed with 8.06% gain and rounded up at N2.95 from N2.73. Completing the top 5 price percentage gainers’ log are Caverton, HonyFlour and Red Star Express with 7.35%, 6.93% and 4.68% respectively.

Neimeth suffered further from profit takers’ move as it gave up 9.91% to close at N2.09 from N2.32. Presitge Assurance followed with 9.52% loss thus, it ended trade at N0.57 from N0.63. C&ILeasing, AIICO Insurance and Mutual Benefit rounded up the top 5 price percentage losers’ log with 9.38%, 9.35% and 8.70% respectively.

As at the time this report was gathered, Brent Crude sells at 40.25$/bbl, this is 173Bpts below the previous close price.

The I&E FX Window opened at N387.39 traded as high as N389.99 before rounding up at N386.00, having transacted a total of $15.31 million through the day. Please note that, margin between the close and open value is 13Bpts down. 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 7.08%, same as 0.17% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 6.33% that is 0.50% 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 Slows Southward Moves as NSEASI Shed 9Bpts

Slowing down bearish moves, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, thus, the lead performance pointer- NSEASI gave up marginal 9Bpts and closed at 24,930.88 from 24,954.32. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, week to Date, All Share Index is 100Bpts below opening while the total lost points in the month of June increased to 133Bpts. See the index movement table for details.

Having broken the consolidation line, the market rounded up today’s trading activities at 0.20% below the lower Bollinger band; meanwhile, Bollinger Bands are about 79.10% narrower than normal. Please understand that, narrow Bollinger bands suggested a low volatility, and implied an urgent need for the market to move either way (up or down). Meanwhile, since price closed below the lower Bollinger band at the end of today’s trading activities, the probability of an upward move has increased from the next trading day. Please understand that, the major breakthrough will only be achieved when the long resistance currently keeping the market down is finally overcome.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N12.192 billion, same as 9Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 712Bpts while the Market Capitalization Year to Date gain stood at N47.076 billion same as 36Bpts above the year’s opening value.

 

For the second time within the week, Fidson Healthcare led the advancers’ log with 10.00%, thus it closed at N3.63 from N3.30. SkyAvn followed with 8.06% gain and rounded up at N2.95 from N2.73. Completing the top 5 price percentage gainers’ log are Caverton, HonyFlour and Red Star Express with 7.35%, 6.93% and 4.68% respectively.

Neimeth suffered further from profit takers’ move as it gave up 9.91% to close at N2.09 from N2.32. Presitge Assurance followed with 9.52% loss thus, it ended trade at N0.57 from N0.63. C&ILeasing, AIICO Insurance and Mutual Benefit rounded up the top 5 price percentage losers’ log with 9.38%, 9.35% and 8.70% respectively.

As at the time this report was gathered, Brent Crude sells at 40.25$/bbl, this is 173Bpts below the previous close price.

The I&E FX Window opened at N387.39 traded as high as N389.99 before rounding up at N386.00, having transacted a total of $15.31 million through the day. Please note that, margin between the close and open value is 13Bpts down. 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 7.08%, same as 0.17% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 6.33% that is 0.50% 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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