FeaturedMarket Update

Nigerian Equities Market’s Lead Index Recovered Marginal Points

Equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added marginal 2Bpts and closed at 25,136.49 from 25,132.67. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, the lead index is 25Bpts below opening while the total gained points in the month of August is now 179Bpts. See the index movement table for details.

It is the pick period of half year earnings season, and as reiterated in our previous reports, half year earnings will lead the market fundamentals through this month. Focus at the moment should be on banking equities with half year dividend policies, and few other listed equities yet to be adjusted for the recently announced cash/scrip dividends, also observe possible outcomes from few listed equities yet to unveil the full year numbers.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N1.991 billion, same as 2Bpts above the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 635Bpts while the Market Capitalization Year to Date gain stood at N152.363 billion same as 119Bpts above the year’s opening value.

Leading on the gainers’ log is UPL that lead with 9.91% gain that closed its price at N1.22 from N1.11. Cornerstone followed in the log with 9.43% gain, thus it rounded up trade at N0.58 from N0.53. Lasaco, UCAP and Sterling Bank completed the top 5 price percentage gainers’ log with 7.14%, 3.23% and 2.61% respectively.

On the flip side, Conoil led with 9.76% loss, thus it rounded up trade at N15.25 from N16.90. Ardova followed with 9.68% to close at N12.60 from N13.95. Oando, Fidson and Japaul completed the top 5 price percentage losers’ log with 9.68%, 5.25% and 4.76% respectively.

Over the Counter Market Index and Capitalisation both lost 1.11% each, thus they closed at point 710.49 and N521.90 billion respectively. Today’s performance produced one advancer and one decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 45.04$/bbl, this is 73Bpts below the previous close price.

The I&E FX Window opened at N386.03 traded as high as N387.34 before rounding up at N385.98, having transacted a total of $18.44 million through the day. Please note that, margin between the close and open value is 5Bpts 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 as 14th August, 2020 closed at 16.00%, same as 1.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 14th August, 2020 ended at 15.25% that is 1.15% 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’s Lead Index Recovered Marginal Points

Equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added marginal 2Bpts and closed at 25,136.49 from 25,132.67. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, the lead index is 25Bpts below opening while the total gained points in the month of August is now 179Bpts. See the index movement table for details.

It is the pick period of half year earnings season, and as reiterated in our previous reports, half year earnings will lead the market fundamentals through this month. Focus at the moment should be on banking equities with half year dividend policies, and few other listed equities yet to be adjusted for the recently announced cash/scrip dividends, also observe possible outcomes from few listed equities yet to unveil the full year numbers.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N1.991 billion, same as 2Bpts above the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 635Bpts while the Market Capitalization Year to Date gain stood at N152.363 billion same as 119Bpts above the year’s opening value.

Leading on the gainers’ log is UPL that lead with 9.91% gain that closed its price at N1.22 from N1.11. Cornerstone followed in the log with 9.43% gain, thus it rounded up trade at N0.58 from N0.53. Lasaco, UCAP and Sterling Bank completed the top 5 price percentage gainers’ log with 7.14%, 3.23% and 2.61% respectively.

On the flip side, Conoil led with 9.76% loss, thus it rounded up trade at N15.25 from N16.90. Ardova followed with 9.68% to close at N12.60 from N13.95. Oando, Fidson and Japaul completed the top 5 price percentage losers’ log with 9.68%, 5.25% and 4.76% respectively.

Over the Counter Market Index and Capitalisation both lost 1.11% each, thus they closed at point 710.49 and N521.90 billion respectively. Today’s performance produced one advancer and one decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 45.04$/bbl, this is 73Bpts below the previous close price.

The I&E FX Window opened at N386.03 traded as high as N387.34 before rounding up at N385.98, having transacted a total of $18.44 million through the day. Please note that, margin between the close and open value is 5Bpts 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 as 14th August, 2020 closed at 16.00%, same as 1.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 14th August, 2020 ended at 15.25% that is 1.15% 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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