FeaturedMarket Update

Nigerian Equities Market Update: Traders Play Defensive as NSEASI Prolongs Negative Move

Negative sentiments continued on the floor of The Nigerian Stock Exchange, as the lead performance pointer–NSEASI gave up 12Bpts of its trading points, and closed at 24,625.17 from 24,654.99. NSE-Consumer Goods, NSE-Oil&Gas and NSE-Industrial Goods closed flat, while all other observed market indices in this report ended in the red. Thus, Week to Date, market is 81Bpts below opening, while the total lost points in the month of June is now 254Bpts. See the index movement table for details.

Although the general market direction at the end of today’s trading activities remained negative; most listed equities ended on a flat note, while both gainers and losers logs shrank. As we have consistently noted in our previous reports, volatility is currently low, indicating that most traders are currently playing safe, waiting for events to unfold. Basically, traders await the entrants of half year numbers, so as to effectively ascertain the deepness of lockdown on quoted companies’ profitability. Nevertheless, the consistent downtrend will create new entries, kindly trade accordingly.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N15.553 billion, same as 12Bpts below the opening value. Meanwhile, trading activities for the day produced 09 ADVANCERS and 08 LAGERS. NSEASI Year to Date loss is now 826Bpts while the Market Capitalization Year to Date loss stood at N112.400 billion same as 87Bpts below the year’s opening value.

Buying interest increased on the share of Neimeth as it led the gainers’ log with 9.65% and closed at N1.25 from N1.14. Wemabank followed on the log with 9.09% and ended at N0.60 from N0.55. Chams, May&Baker and ETI completed the top 5 price percentage gainers’ log wiith 4.35%, 3.09% and 2.13% respectively.

Linkage Assurance led on the lagers’ log with 9.43%, thus, it closed at N0.48 from N0.53. Japaul Oil followed with 7.69% and ended at N0.24 from N0.26. Livestock Feeds, Zenith Bank and Transcorp completed the top 5 losers’ list eith 2.86%, 1.52% and 1.43% respectively.

Over the Counter Market Index and Capitalisation both ended on a flat note, and rounded up at point 709.11 and N520.89 Billion respectively. All listed equities ended on a flat note. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.59$/bbl, this is 132Bpts above the previous close price.

The I&E FX Window opened at N387.08 traded as high as N389.75 before rounding up at N387.27, having transacted a total of $14.68 million through the day. Please note that, margin between the close and open value is 3Bpts up. 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 16.92%, same as 1.17% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.83% that is 1.17% 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: Traders Play Defensive as NSEASI Prolongs Negative Move

Negative sentiments continued on the floor of The Nigerian Stock Exchange, as the lead performance pointer–NSEASI gave up 12Bpts of its trading points, and closed at 24,625.17 from 24,654.99. NSE-Consumer Goods, NSE-Oil&Gas and NSE-Industrial Goods closed flat, while all other observed market indices in this report ended in the red. Thus, Week to Date, market is 81Bpts below opening, while the total lost points in the month of June is now 254Bpts. See the index movement table for details.

Although the general market direction at the end of today’s trading activities remained negative; most listed equities ended on a flat note, while both gainers and losers logs shrank. As we have consistently noted in our previous reports, volatility is currently low, indicating that most traders are currently playing safe, waiting for events to unfold. Basically, traders await the entrants of half year numbers, so as to effectively ascertain the deepness of lockdown on quoted companies’ profitability. Nevertheless, the consistent downtrend will create new entries, kindly trade accordingly.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N15.553 billion, same as 12Bpts below the opening value. Meanwhile, trading activities for the day produced 09 ADVANCERS and 08 LAGERS. NSEASI Year to Date loss is now 826Bpts while the Market Capitalization Year to Date loss stood at N112.400 billion same as 87Bpts below the year’s opening value.

Buying interest increased on the share of Neimeth as it led the gainers’ log with 9.65% and closed at N1.25 from N1.14. Wemabank followed on the log with 9.09% and ended at N0.60 from N0.55. Chams, May&Baker and ETI completed the top 5 price percentage gainers’ log wiith 4.35%, 3.09% and 2.13% respectively.

Linkage Assurance led on the lagers’ log with 9.43%, thus, it closed at N0.48 from N0.53. Japaul Oil followed with 7.69% and ended at N0.24 from N0.26. Livestock Feeds, Zenith Bank and Transcorp completed the top 5 losers’ list eith 2.86%, 1.52% and 1.43% respectively.

Over the Counter Market Index and Capitalisation both ended on a flat note, and rounded up at point 709.11 and N520.89 Billion respectively. All listed equities ended on a flat note. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.59$/bbl, this is 132Bpts above the previous close price.

The I&E FX Window opened at N387.08 traded as high as N389.75 before rounding up at N387.27, having transacted a total of $14.68 million through the day. Please note that, margin between the close and open value is 3Bpts up. 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 16.92%, same as 1.17% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.83% that is 1.17% 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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