FeaturedMarket Update

Nigerian Equities Markets Maintains Recovery By 2Bpts

Taking marginal steps into the positive territory, equities trading on the floor of The Nigerian Stock Exchange maintained recovery moves, as the lead performance pointer- NSEASI added 2Bpts to its trading points, and closed at 27,878.43 from 27,871.90. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, lead activities index is 67Bpts below the opening point, while the total lost points in the month of February is now 335Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N3.402 billion, same as 2Bpts above the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 18 LAGERS. NSEASI Year to Date gain is now 386Bpts while the Market Capitalization Year to Date gain stood at N1.561 trillion same as 1,205Bpts above the year’s opening value.

At the end of today’s trading activities, C&ILeasing Led the advancers’ log with 9.09% to close at N5.40 from N4.95, Afriprud followed with 2.17% to close at N4.70 from N4.60. Completing the top five price percentage gainers are; UACN (2.15%), Law-Union (1.67%), and Access Bank (1.56%).

SKYAVN led the decliners’ log with 9.50% as it rounded up at N3.05 from N3.37. Royalex followed on the log with 8.00% loss as it close at N0.23 from N0.25. Japaul Oil, Guinness and Sterling Bank completed the top five price percentage losers’ list with 7.69%, 7.28% and 7.19% loss respectively.

Judging by the mild gain recorded by the lead index at the end of today’s trading activities, and the few numbers of listed equities that featured on the gainers log, one can safely conclude that, good numbers of traders are yet to align with market recovery. On the strength of these, we assumed likely negative ending on the floor of the exchange tomorrow. Nevertheless, we maintained that traders should take advantage of several low priced equities, as induced by the long bears’ stay around the market. In our opinion, this should be done with slight idea of possible outcomes of the expected audited full year numbers.

As at the time this report was gathered, Brent Crude sells at 56.05$/bbl, this is 204Bpts above the previous close price.

The I&E FX Window opened at N364.60 traded as high as N365.50 before rounding up at N364.85, having transacted a total of $104.98 million through the day. Please note that, margin between the close and open value is 1Bpts down. 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 15.92%, same as 0.08% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.42% that is 0.27% 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 Markets Maintains Recovery By 2Bpts

Taking marginal steps into the positive territory, equities trading on the floor of The Nigerian Stock Exchange maintained recovery moves, as the lead performance pointer- NSEASI added 2Bpts to its trading points, and closed at 27,878.43 from 27,871.90. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, lead activities index is 67Bpts below the opening point, while the total lost points in the month of February is now 335Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N3.402 billion, same as 2Bpts above the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 18 LAGERS. NSEASI Year to Date gain is now 386Bpts while the Market Capitalization Year to Date gain stood at N1.561 trillion same as 1,205Bpts above the year’s opening value.

At the end of today’s trading activities, C&ILeasing Led the advancers’ log with 9.09% to close at N5.40 from N4.95, Afriprud followed with 2.17% to close at N4.70 from N4.60. Completing the top five price percentage gainers are; UACN (2.15%), Law-Union (1.67%), and Access Bank (1.56%).

SKYAVN led the decliners’ log with 9.50% as it rounded up at N3.05 from N3.37. Royalex followed on the log with 8.00% loss as it close at N0.23 from N0.25. Japaul Oil, Guinness and Sterling Bank completed the top five price percentage losers’ list with 7.69%, 7.28% and 7.19% loss respectively.

Judging by the mild gain recorded by the lead index at the end of today’s trading activities, and the few numbers of listed equities that featured on the gainers log, one can safely conclude that, good numbers of traders are yet to align with market recovery. On the strength of these, we assumed likely negative ending on the floor of the exchange tomorrow. Nevertheless, we maintained that traders should take advantage of several low priced equities, as induced by the long bears’ stay around the market. In our opinion, this should be done with slight idea of possible outcomes of the expected audited full year numbers.

As at the time this report was gathered, Brent Crude sells at 56.05$/bbl, this is 204Bpts above the previous close price.

The I&E FX Window opened at N364.60 traded as high as N365.50 before rounding up at N364.85, having transacted a total of $104.98 million through the day. Please note that, margin between the close and open value is 1Bpts down. 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 15.92%, same as 0.08% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.42% that is 0.27% 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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