FeaturedMarket Update

Nigerian Equities Market’s 1st Recovery Move after 7 Red Days

After seven bearish days, trading activities on the floor of the Nigerian stock Exchange posted the first recovery move, as the lead performance pointer- NSEASI added 19Bpts and rounded up trade at 26,434.00 from 26,384.21. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead activities index is 157Bpts below opening while the total lost points in the month of December is now 210Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N24.033 billion, same as 19Bpts above the opening value.  Meanwhile, trading activities for the day produced 12 ADVANCERS and 14 LAGERS. NSEASI Year to Date loss is now 1,590Bpts while the Market Capitalization Year to Date gain stood at N1.037 trillion same as 885Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is C&ILeasing which added 9.26% of its previous close price and closed at N5.90 from N5.40. Courtville followed on the log with 8.70% gain as it closed at N0.25 from N0.23. Oando, UBA and UACN completed the log with 4.17%, 3.85% and 3.11% respectively.

Meanwhile, Chellaram led the losers log with 9.74% loss as it rounded up at N2.78 from N3.08. Union Diagnostic followed with 8.33% loss to close at N0.22 from N0.24. Others on the top five list are; Chams, Linkage Assurance and Lasaco with 8.11%, 5.88% and 3.85% respectively.

As noted above, the market is posting its first recovery move after seven loses, the 488,941 units of shares traded on the shares of MTNN could be a major booster of the lead index as the volume moved MTNN share price by 1.72%. In other words, observing performance during tomorrow trading activities will confirm if the bear intends to take a brief rest or not. Please understand that, it is necessary to have at least one high Cap stock in your portfolio for balancing and for the purpose of achieving a defensive portfolio. Another investing option is to fill your portfolio with few listed equities currently trending against the market (and with strong fundamentals).

As at the time this report was gathered, Brent Crude sells at 64.04$/bbl, this is 30Bpts below the previous close price.

The I&E FX Window opened at N363.03 traded as high as N364.00 before rounding up at N363.56, having transacted a total of $118.89 million through the day. Please note that, margin between the close and open value is 6Bpts 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 2.93%, same as 0.04% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.36%, that is, 0.06% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

Comment here

FeaturedMarket Update

Nigerian Equities Market’s 1st Recovery Move after 7 Red Days

After seven bearish days, trading activities on the floor of the Nigerian stock Exchange posted the first recovery move, as the lead performance pointer- NSEASI added 19Bpts and rounded up trade at 26,434.00 from 26,384.21. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead activities index is 157Bpts below opening while the total lost points in the month of December is now 210Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N24.033 billion, same as 19Bpts above the opening value.  Meanwhile, trading activities for the day produced 12 ADVANCERS and 14 LAGERS. NSEASI Year to Date loss is now 1,590Bpts while the Market Capitalization Year to Date gain stood at N1.037 trillion same as 885Bpts above the year’s opening value.

Leading on the price percentage gainers’ log is C&ILeasing which added 9.26% of its previous close price and closed at N5.90 from N5.40. Courtville followed on the log with 8.70% gain as it closed at N0.25 from N0.23. Oando, UBA and UACN completed the log with 4.17%, 3.85% and 3.11% respectively.

Meanwhile, Chellaram led the losers log with 9.74% loss as it rounded up at N2.78 from N3.08. Union Diagnostic followed with 8.33% loss to close at N0.22 from N0.24. Others on the top five list are; Chams, Linkage Assurance and Lasaco with 8.11%, 5.88% and 3.85% respectively.

As noted above, the market is posting its first recovery move after seven loses, the 488,941 units of shares traded on the shares of MTNN could be a major booster of the lead index as the volume moved MTNN share price by 1.72%. In other words, observing performance during tomorrow trading activities will confirm if the bear intends to take a brief rest or not. Please understand that, it is necessary to have at least one high Cap stock in your portfolio for balancing and for the purpose of achieving a defensive portfolio. Another investing option is to fill your portfolio with few listed equities currently trending against the market (and with strong fundamentals).

As at the time this report was gathered, Brent Crude sells at 64.04$/bbl, this is 30Bpts below the previous close price.

The I&E FX Window opened at N363.03 traded as high as N364.00 before rounding up at N363.56, having transacted a total of $118.89 million through the day. Please note that, margin between the close and open value is 6Bpts 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 2.93%, same as 0.04% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.36%, that is, 0.06% above the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

Comment here