FeaturedMarket Update

Nigerian Equities Market Suspends Positive Moves, Sheds 9Bpts

Rounding up the first trading day of the week, equities trading on the floor of The Nigerian Stock Exchange ended in the red, as the lead performance pointer-NSEASI gave up 9Bpts to close at 25,582.23 from 25,605.64. It was a mixed performance amongst the observed market indices as shown in the index movement tables. Thus, Week to Date, activities index is 9Bpts below opening, while the total gained points in the month of September is now 101Bpts. See the index movement table for details.

The half year earnings season had finally ended, having received the financial performance indexes of all major listed equities with December financial year end. Short term Trading points is the closure dates for both interim and final cash dividend recently announced; meanwhile, in the long term, (at least before the commencement of the third quarter earnings season) performances of economic indicators will contribute majorly to performances, while positioning against the third quarter numbers will grow stronger towards the end of September. On the strength of these, we recommend that traders tread cautiously around the market arena.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N12.216 billion, same as 9Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 15 LAGERS. NSEASI Year to Date loss is now 469Bpts while the Market Capitalization Year to Date gain stood at N387.499 billion same as 299Bpts above the year’s opening value.

Leading on the gainers’ log is Eterna Oil that improved by 9.13% and closed at N2.27 from N2.08. Nem Insurance followed on the log with 8.70% gain, thus, it rounded up trade at N2.07 from N2.25. C&ILeasing, UAC-PROP and Academy Press completed the top 5 price percentage gainers’ list with 8.33%, 7.61% and 7.41% respectively.

On the flip side, Honeywell Flour led with 6.25% loss that closed its price at N0.90 from N0.96. Chams Plc followed on the log with 4.55% as it rounded up trade at N0.21 from N0.22. Red Star Express, Neimeth and Union Diagnostic completed the top 5 price percentage losers’ log with 4.37%, 3.74% and 3.70% respectively.

Over the Counter Market Index and Capitalisation both closed in the green as they both gained 1.58% each, thus they closed at point 725.51 and N532.94 billion respectively. Today’s performance produced zero advancer and zero decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 42.01$/bbl, this is 152Bpts below the previous close price.

The I&E FX Window opened at N386.19 traded as high as N394.63 before rounding up at N386.00, having transacted a total of $45.22million through the day. Please note that, margin between the close and open value is 3Bpts 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 as 1st September, 2020 closed at 2.25%, same as 0.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 1st September, 2020 ended at 1.38% that is 0.25% 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 Suspends Positive Moves, Sheds 9Bpts

Rounding up the first trading day of the week, equities trading on the floor of The Nigerian Stock Exchange ended in the red, as the lead performance pointer-NSEASI gave up 9Bpts to close at 25,582.23 from 25,605.64. It was a mixed performance amongst the observed market indices as shown in the index movement tables. Thus, Week to Date, activities index is 9Bpts below opening, while the total gained points in the month of September is now 101Bpts. See the index movement table for details.

The half year earnings season had finally ended, having received the financial performance indexes of all major listed equities with December financial year end. Short term Trading points is the closure dates for both interim and final cash dividend recently announced; meanwhile, in the long term, (at least before the commencement of the third quarter earnings season) performances of economic indicators will contribute majorly to performances, while positioning against the third quarter numbers will grow stronger towards the end of September. On the strength of these, we recommend that traders tread cautiously around the market arena.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N12.216 billion, same as 9Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 15 LAGERS. NSEASI Year to Date loss is now 469Bpts while the Market Capitalization Year to Date gain stood at N387.499 billion same as 299Bpts above the year’s opening value.

Leading on the gainers’ log is Eterna Oil that improved by 9.13% and closed at N2.27 from N2.08. Nem Insurance followed on the log with 8.70% gain, thus, it rounded up trade at N2.07 from N2.25. C&ILeasing, UAC-PROP and Academy Press completed the top 5 price percentage gainers’ list with 8.33%, 7.61% and 7.41% respectively.

On the flip side, Honeywell Flour led with 6.25% loss that closed its price at N0.90 from N0.96. Chams Plc followed on the log with 4.55% as it rounded up trade at N0.21 from N0.22. Red Star Express, Neimeth and Union Diagnostic completed the top 5 price percentage losers’ log with 4.37%, 3.74% and 3.70% respectively.

Over the Counter Market Index and Capitalisation both closed in the green as they both gained 1.58% each, thus they closed at point 725.51 and N532.94 billion respectively. Today’s performance produced zero advancer and zero decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 42.01$/bbl, this is 152Bpts below the previous close price.

The I&E FX Window opened at N386.19 traded as high as N394.63 before rounding up at N386.00, having transacted a total of $45.22million through the day. Please note that, margin between the close and open value is 3Bpts 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 as 1st September, 2020 closed at 2.25%, same as 0.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 1st September, 2020 ended at 1.38% that is 0.25% 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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