FeaturedMarket Update

Nigerian Markets’ Update: Best Trading Strategy as the Bear Pressured the Market Further: 14/05/19

Equities trading on the floor of the Nigerian Stock Exchange maintained bearish trend as the All Share Index of the listed equities dipped by 22Bpts and closed at 28,422.76 from 28,484.44. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date market is down by 145Bpts while the total lost points within the month of May extended to 250Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N23.174 billion, same as 22Bpts below the opening value.  Meanwhile, trading activities for the day produced 20 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 955Bpts while the Market Capitalization Year to Date loss stood at N1.042 trillion same as 890Bpts below the year’s opening value.

Leading on the gainers log was Neimeth that added 9.09% to its previous close price to close at N0.60 from N0.55. Courtvile followed on the log with 8.33% price gain that rounded up its price at N0.26. Thomas Wyatt, AGLeventis and Japaul completed the top 5 gainers for the day with 8.00%, 7.69% and 7.14% price appreciation respectively.

University Press topped on the decliners’ log with 9.73% loss over its opening price, while Royal Exchange followed with 8.33% price loss. Profit taking activities continued on the share price of Chams as it closed down at N0.33 after given up 8.33% of its previous close price. Goldlink Insurance and Honeywell Flower Mills completed the top 5 losers with 4.76% and 4.35% loss respectively.

Investors seem to be more interested in more ministerial appointments than office of the Central Bank governor. Please understand that we also agreed that announcing of key ministerial positions will give clearer direction to the nation’s economic pattern, which in-turn, will guide investment approach in all sectors of the economy. And of course it seems that this expectation will have to hold until after May 29th when the government will be officially sworn in for the second term, in other words, market may continue its unending struggling with the bear till that time.

Take away from the ongoing bear’s treat on listed equities, is that, equities are becoming clearly cheap and attractive, as we have usually noted in our reports, in every market, goods are stocked when prices are generally down, that is; taking timely positions in beaten and battered listed equities, especially the blue chips with faultless fundamental stand is an intelligent investment decision. Please understand that key directional method in following this investment approach is to established the intrinsic value of equities, compare same to the current market price and then decide accordingly. (Please note: for detailed analysis of listed equities with preservative valuation approach, talk to us at Tradelines Investment Ltd-Call-08037155684, Whatssapp-08098865598)

As at the time we compiled this report, Brent Crude trades at $70.94/bbl having loss 0.30% to stand below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.95 against the dollar. See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.20 traded as high as N361.50 before rounding up at N360.53, having transacted a total of $399.78 million through the day. Please note that, margin between the close and open value is an equivalent of 8Bpts 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 12.64%, same as 4.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 11.71%, that is, 4.29% below 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 Markets’ Update: Best Trading Strategy as the Bear Pressured the Market Further: 14/05/19

Equities trading on the floor of the Nigerian Stock Exchange maintained bearish trend as the All Share Index of the listed equities dipped by 22Bpts and closed at 28,422.76 from 28,484.44. It was a mixed performance amongst the observed market indices as shown in the index movement table. Week to Date market is down by 145Bpts while the total lost points within the month of May extended to 250Bpts. See the index movement table for details.

Value loss by the market capitalization of the listed equities during today’s trading activities was N23.174 billion, same as 22Bpts below the opening value.  Meanwhile, trading activities for the day produced 20 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 955Bpts while the Market Capitalization Year to Date loss stood at N1.042 trillion same as 890Bpts below the year’s opening value.

Leading on the gainers log was Neimeth that added 9.09% to its previous close price to close at N0.60 from N0.55. Courtvile followed on the log with 8.33% price gain that rounded up its price at N0.26. Thomas Wyatt, AGLeventis and Japaul completed the top 5 gainers for the day with 8.00%, 7.69% and 7.14% price appreciation respectively.

University Press topped on the decliners’ log with 9.73% loss over its opening price, while Royal Exchange followed with 8.33% price loss. Profit taking activities continued on the share price of Chams as it closed down at N0.33 after given up 8.33% of its previous close price. Goldlink Insurance and Honeywell Flower Mills completed the top 5 losers with 4.76% and 4.35% loss respectively.

Investors seem to be more interested in more ministerial appointments than office of the Central Bank governor. Please understand that we also agreed that announcing of key ministerial positions will give clearer direction to the nation’s economic pattern, which in-turn, will guide investment approach in all sectors of the economy. And of course it seems that this expectation will have to hold until after May 29th when the government will be officially sworn in for the second term, in other words, market may continue its unending struggling with the bear till that time.

Take away from the ongoing bear’s treat on listed equities, is that, equities are becoming clearly cheap and attractive, as we have usually noted in our reports, in every market, goods are stocked when prices are generally down, that is; taking timely positions in beaten and battered listed equities, especially the blue chips with faultless fundamental stand is an intelligent investment decision. Please understand that key directional method in following this investment approach is to established the intrinsic value of equities, compare same to the current market price and then decide accordingly. (Please note: for detailed analysis of listed equities with preservative valuation approach, talk to us at Tradelines Investment Ltd-Call-08037155684, Whatssapp-08098865598)

As at the time we compiled this report, Brent Crude trades at $70.94/bbl having loss 0.30% to stand below the last close price.

At the interbank rate today, the Naira closed unchanged at N306.95 against the dollar. See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N360.20 traded as high as N361.50 before rounding up at N360.53, having transacted a total of $399.78 million through the day. Please note that, margin between the close and open value is an equivalent of 8Bpts 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 12.64%, same as 4.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 11.71%, that is, 4.29% below 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