FeaturedMarket Update

Nigerian Equities Market Update: The Bear Slowed as NSEASI Gave Up 4Bpts: 09/04/2019

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the lead performance pointer-NSEASI gave up 4Bpts of its trading points and closed at 29,149.46 from 29,162.24. Safe NSE-Pension Index that added points, other observed market indices in this report ended below their respective opening points. Thus, Week to Date activities index is in the red by 158Bpts while the total lost points in the month of April is now 609Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N4.789 billion, same as 4Bpts below the opening value.  Meanwhile, trading activities for the day produced 12 ADVANCERS and 15 LAGERS. NSEASI Year to Date loss is now 726Bpts while the Market Capitalization Year to Date loss stood at N771.958 billion same as 659Bpts below the year’s opening value.

Although the market had maintained a consistent downtrend in agreement with various fundamental factors, judging by the lead indicator’s trend, the probability of a trend reversal is high. Fundamentally, the market is about to see the true state of business regime in the year as we now expect the first quarter earnings performance indices. Low liquidity and government policy direction is another key fundamental factor holding down market recovery, as they remain leading investment direction in any system. In line with the above, we maintained that traders should take advantage of falling prices and position in sound fundamentally based equities.

As at the time we compiled this report, Brent Crude trades at $70.61/bbl having loss 0.49% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N307.00 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.30 traded as high as N362.50 before rounding up at N360.55, having transacted a total of $132.88 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts loss. 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 16.21%, same as 3.78% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.43%, that is, 4.00% 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: The Bear Slowed as NSEASI Gave Up 4Bpts: 09/04/2019

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the lead performance pointer-NSEASI gave up 4Bpts of its trading points and closed at 29,149.46 from 29,162.24. Safe NSE-Pension Index that added points, other observed market indices in this report ended below their respective opening points. Thus, Week to Date activities index is in the red by 158Bpts while the total lost points in the month of April is now 609Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N4.789 billion, same as 4Bpts below the opening value.  Meanwhile, trading activities for the day produced 12 ADVANCERS and 15 LAGERS. NSEASI Year to Date loss is now 726Bpts while the Market Capitalization Year to Date loss stood at N771.958 billion same as 659Bpts below the year’s opening value.

Although the market had maintained a consistent downtrend in agreement with various fundamental factors, judging by the lead indicator’s trend, the probability of a trend reversal is high. Fundamentally, the market is about to see the true state of business regime in the year as we now expect the first quarter earnings performance indices. Low liquidity and government policy direction is another key fundamental factor holding down market recovery, as they remain leading investment direction in any system. In line with the above, we maintained that traders should take advantage of falling prices and position in sound fundamentally based equities.

As at the time we compiled this report, Brent Crude trades at $70.61/bbl having loss 0.49% to stand above the last close price.

At the interbank rate today, the Naira closed unchanged at N307.00 against the dollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.30 traded as high as N362.50 before rounding up at N360.55, having transacted a total of $132.88 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts loss. 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 16.21%, same as 3.78% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.43%, that is, 4.00% 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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