FeaturedMarket Update

Nigerian Equities Market Update: High Cap Stocks Forced NSEASI Through Negative Path: 29/04/19

Starting up the first trading day of the week, equities trading on the floor of The Nigerian Stock Exchange dipped, as the lead performance pointer NSEASI gave up 73Bpts and rounded up trade at 29,521.90 from 29,740.41. Safe NSE-Consumer Goods and NSE-Insurance that added points all other observed market indices in this report dipped. On this strength, total lost points within the month of April increased to 490Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N82.434 billion, same as 74Bpts below the opening value.  Meanwhile, trading activities for the day produced 25 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 607Bpts while the Market Capitalization Year to Date loss stood at N626.205 billion same as 534Bpts below the year’s opening value.

At the end of today’s trading activities, both advancers and decliners’ log were almost at par (25/26), but the general market direction followed the red path since more highly capitalized equities joined the losers’ line. In our opinion, first quarter earnings season were duly responded to, as investors treat every equities by their respective performances.  Please note that, as the first quarter earnings season winds up, traders will now be more responsive to various economic developments and individual equities’ fundamental news. This is expected to continue till the market enters half year earnings season. We therefore recommend that traders should be fully abreast of both economic and individual equity’s fundamental developments while treading cautiously around the market arena.

As at the time we compiled this report, Brent Crude trades at $72.06/bbl having loss 0.09% to stand below the last close price.

At the interbank rate today, the Naira closed at N306.95 against the dollar, thereby gaining 0.02% over Friday’s position.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.42 traded as high as N361.15 before rounding up at N360.79, having transacted a total of $165.75 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 18.57%, same as 1.29% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 17.86%, that is, 1.43% 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: High Cap Stocks Forced NSEASI Through Negative Path: 29/04/19

Starting up the first trading day of the week, equities trading on the floor of The Nigerian Stock Exchange dipped, as the lead performance pointer NSEASI gave up 73Bpts and rounded up trade at 29,521.90 from 29,740.41. Safe NSE-Consumer Goods and NSE-Insurance that added points all other observed market indices in this report dipped. On this strength, total lost points within the month of April increased to 490Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N82.434 billion, same as 74Bpts below the opening value.  Meanwhile, trading activities for the day produced 25 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 607Bpts while the Market Capitalization Year to Date loss stood at N626.205 billion same as 534Bpts below the year’s opening value.

At the end of today’s trading activities, both advancers and decliners’ log were almost at par (25/26), but the general market direction followed the red path since more highly capitalized equities joined the losers’ line. In our opinion, first quarter earnings season were duly responded to, as investors treat every equities by their respective performances.  Please note that, as the first quarter earnings season winds up, traders will now be more responsive to various economic developments and individual equities’ fundamental news. This is expected to continue till the market enters half year earnings season. We therefore recommend that traders should be fully abreast of both economic and individual equity’s fundamental developments while treading cautiously around the market arena.

As at the time we compiled this report, Brent Crude trades at $72.06/bbl having loss 0.09% to stand below the last close price.

At the interbank rate today, the Naira closed at N306.95 against the dollar, thereby gaining 0.02% over Friday’s position.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.42 traded as high as N361.15 before rounding up at N360.79, having transacted a total of $165.75 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 18.57%, same as 1.29% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 17.86%, that is, 1.43% 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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