FeaturedMarket Update

Nigerian Equities Market Update; Gtbank, Zenith Bank Excites the Market with H1 Interim Dividend

Trading activities on the floor of The Nigerian Stock Exchange ended the first trading day of the week in the positive territory as the lead performance pointer NSEASI added 71Bpts and closed at 27,115.89 from 26,925.29. It was a mixed performance amongst the observed market indices observed in this report. Meanwhile, by this performance, the total lost point in the month of August adjusted down to 217Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N92.881 billion, same as 71Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,373Bpts while the Market Capitalization Year to Date gain stood at N1.493 trillion same as 1,274Bpts above the year’s opening value.

In our opinion, reactions to the reported interim cash dividend by both Guaranty Trust Bank and Zenith Bank Plc are two key events that excited the market out of the negative territory. Recall that towards the close of business on Friday, Guaranty Trust Bank announced an interim dividend of 30k, while its close contemporary Zenith Bank joined at the early hours of trade today with same amount as interim. The market still awaits similar performance from Access Bank Plc, UBA and Stanbic IBTC Holdings.

Please note that the qualification date for Guaranty Trust interim dividend is 2nd September, 2019 while the payment date is 11th September, 2019. On the other hand, qualification date for Zenith Bank is 29th August, while payment is 2nd September.

As at the time this report was gathered, Brent Crude sells at 59.77$/bbl, this is 3Bpts above the previous close price.

The I&E FX Window opened at N363.62 traded as high as N364.50 before rounding up at N363.32, having transacted a total of $253.70 million through the day. Please note that, margin between the close and open value is an equivalent of 3Bpts 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 30.29%, same as 10.71% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 28.29, that is, 10.29% 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 Update; Gtbank, Zenith Bank Excites the Market with H1 Interim Dividend

Trading activities on the floor of The Nigerian Stock Exchange ended the first trading day of the week in the positive territory as the lead performance pointer NSEASI added 71Bpts and closed at 27,115.89 from 26,925.29. It was a mixed performance amongst the observed market indices observed in this report. Meanwhile, by this performance, the total lost point in the month of August adjusted down to 217Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N92.881 billion, same as 71Bpts above the opening value.  Meanwhile, trading activities for the day produced 21 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,373Bpts while the Market Capitalization Year to Date gain stood at N1.493 trillion same as 1,274Bpts above the year’s opening value.

In our opinion, reactions to the reported interim cash dividend by both Guaranty Trust Bank and Zenith Bank Plc are two key events that excited the market out of the negative territory. Recall that towards the close of business on Friday, Guaranty Trust Bank announced an interim dividend of 30k, while its close contemporary Zenith Bank joined at the early hours of trade today with same amount as interim. The market still awaits similar performance from Access Bank Plc, UBA and Stanbic IBTC Holdings.

Please note that the qualification date for Guaranty Trust interim dividend is 2nd September, 2019 while the payment date is 11th September, 2019. On the other hand, qualification date for Zenith Bank is 29th August, while payment is 2nd September.

As at the time this report was gathered, Brent Crude sells at 59.77$/bbl, this is 3Bpts above the previous close price.

The I&E FX Window opened at N363.62 traded as high as N364.50 before rounding up at N363.32, having transacted a total of $253.70 million through the day. Please note that, margin between the close and open value is an equivalent of 3Bpts 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 30.29%, same as 10.71% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 28.29, that is, 10.29% 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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