FeaturedMarket Update

Nigerian Equities Market Update: Market Tests More Bearish Zones as NSEASI lost Bpts49Bpts: 16/07/19

Trading activities on the floor of The Nigerian Stock Exchange again closed in the red, as the lead index gave up 49Bpts to round up trade at 28,200.88 from 28,340.98. Safe NSE-Consumer Goods and NSE-Insurance index that added points other observed market indices in this report lost. Thus, Week to Date, lead performance pointer gave up 128Bpts while the total lost points within the month of July is now 589Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N68.279 billion, same as 49Bpts below the opening value.  Meanwhile, trading activities for the day produced 10 ADVANCERS and 32 LAGERS. NSEASI Year to Date loss is now 1,028Bpts while the Market Capitalization Year to Date gain stood at N2,022 trillion same as 1,726Bpts above the year’s opening value. See Index movement table for details.

Today 16th July, 2019 is the qualification date for the 43k cash dividend previously announced by the management of Red Star Express for the year ended 31st March, 2019. Investors positioning in the shares of the stock moved it to the top of the price percentage gainers’ log for the day.

Market Mood is expected to be positively impacted before the end of the month; when half year earnings of equities with December year end and full year reports of others with March year end are released to the market. We therefore maintained that, traders should play by earnings expectations.

As at the time this report was gathered, Brent Crude sells at 64.87$/bbl, this is 161Bpts below the previous close price.

The I&E FX Window opened at N360.59 traded as high as N362.50 before rounding up at N361.25, having transacted a total of $340.04 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. See below table for Lagos BDC Fx-rates.

In the money market, the Overnight (O/N) rate closed at 3.07%, same as 0.36% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.50%, that is, 0.21% 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 Update: Market Tests More Bearish Zones as NSEASI lost Bpts49Bpts: 16/07/19

Trading activities on the floor of The Nigerian Stock Exchange again closed in the red, as the lead index gave up 49Bpts to round up trade at 28,200.88 from 28,340.98. Safe NSE-Consumer Goods and NSE-Insurance index that added points other observed market indices in this report lost. Thus, Week to Date, lead performance pointer gave up 128Bpts while the total lost points within the month of July is now 589Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N68.279 billion, same as 49Bpts below the opening value.  Meanwhile, trading activities for the day produced 10 ADVANCERS and 32 LAGERS. NSEASI Year to Date loss is now 1,028Bpts while the Market Capitalization Year to Date gain stood at N2,022 trillion same as 1,726Bpts above the year’s opening value. See Index movement table for details.

Today 16th July, 2019 is the qualification date for the 43k cash dividend previously announced by the management of Red Star Express for the year ended 31st March, 2019. Investors positioning in the shares of the stock moved it to the top of the price percentage gainers’ log for the day.

Market Mood is expected to be positively impacted before the end of the month; when half year earnings of equities with December year end and full year reports of others with March year end are released to the market. We therefore maintained that, traders should play by earnings expectations.

As at the time this report was gathered, Brent Crude sells at 64.87$/bbl, this is 161Bpts below the previous close price.

The I&E FX Window opened at N360.59 traded as high as N362.50 before rounding up at N361.25, having transacted a total of $340.04 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. See below table for Lagos BDC Fx-rates.

In the money market, the Overnight (O/N) rate closed at 3.07%, same as 0.36% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.50%, that is, 0.21% 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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