FeaturedMarket Update

Nigerian Stock Market Adds Marginal 1Bpts as Traders Goes Neutral

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange ended mildly in the green as the lead index NSEASI added 1Bpts to close at 25,574.35 from 25,572.57. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 1Bpts above opening while the total gained points in the month of September is now 98Bpts. See the index movement table for details.

Having concluded the half year earnings season, it is expected that the economic indicators will lead market fundamentals, meanwhile, the third quarter earnings season will commence in two to three weeks from now. In our opinion, clear projections of expected Q3 earnings will place investors at an advantage point over others who will want to see the result before positioning. Please recall that, normal practice is to use the third quarter earnings in positioning against full year numbers, in other words, positioning ahead the release is an intelligent investment decision.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N929.41 million, same as 1Bpts above the opening value. Meanwhile, trading activities for the day produced 09 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 472Bpts while the Market Capitalization Year to Date gain stood at N407.111 billion same as 314Bpts above the year’s opening value.

Leading on the gainers’ log is ABC-Transport that added 10.00% and closed at N0.33 from N0.30. Wapic followed on the log with 8.11% gain, thus, it rounded up trade at N0.40 from N0.37. UACN, MBENEFIT and Cornerstone Insurance completed the top 5 price percentage gainers’ list with 5.79%, 5.00% and 4.92% respectively.

On the flip side, Champion Breweries led with 10.00% loss that closed its price at N0.81 from N0.90. Red Star Express followed on the log with 9.20% as it rounded up trade at N2.96 from N3.26. Japaul Oil, Regency Alliance and Jaiz Bank completed the top 5 price percentage losers’ log with 4.76%, 4.17% and 3.39% respectively.

Over the Counter Market Index and Capitalisation both closed in the green as they both added 1.23% each, thus they closed at point 728.86 and N535.40 billion respectively. Today’s performance produced one (1) advancer and zero (0) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.53$/bbl, this is 375Bpts below the previous close price.

The I&E FX Window opened at N386.15 traded as high as N392.62 before rounding up at N386.00, having transacted a total of $68.14 million through the day. Please note that, margin between the close and open value is 0Bpts 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 18th September, 2020 closed at 2.00%, same as 1.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 18th September, 2020 ended at 1.00% that is 1.00% 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 Stock Market Adds Marginal 1Bpts as Traders Goes Neutral

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange ended mildly in the green as the lead index NSEASI added 1Bpts to close at 25,574.35 from 25,572.57. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, activities index is 1Bpts above opening while the total gained points in the month of September is now 98Bpts. See the index movement table for details.

Having concluded the half year earnings season, it is expected that the economic indicators will lead market fundamentals, meanwhile, the third quarter earnings season will commence in two to three weeks from now. In our opinion, clear projections of expected Q3 earnings will place investors at an advantage point over others who will want to see the result before positioning. Please recall that, normal practice is to use the third quarter earnings in positioning against full year numbers, in other words, positioning ahead the release is an intelligent investment decision.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N929.41 million, same as 1Bpts above the opening value. Meanwhile, trading activities for the day produced 09 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 472Bpts while the Market Capitalization Year to Date gain stood at N407.111 billion same as 314Bpts above the year’s opening value.

Leading on the gainers’ log is ABC-Transport that added 10.00% and closed at N0.33 from N0.30. Wapic followed on the log with 8.11% gain, thus, it rounded up trade at N0.40 from N0.37. UACN, MBENEFIT and Cornerstone Insurance completed the top 5 price percentage gainers’ list with 5.79%, 5.00% and 4.92% respectively.

On the flip side, Champion Breweries led with 10.00% loss that closed its price at N0.81 from N0.90. Red Star Express followed on the log with 9.20% as it rounded up trade at N2.96 from N3.26. Japaul Oil, Regency Alliance and Jaiz Bank completed the top 5 price percentage losers’ log with 4.76%, 4.17% and 3.39% respectively.

Over the Counter Market Index and Capitalisation both closed in the green as they both added 1.23% each, thus they closed at point 728.86 and N535.40 billion respectively. Today’s performance produced one (1) advancer and zero (0) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.53$/bbl, this is 375Bpts below the previous close price.

The I&E FX Window opened at N386.15 traded as high as N392.62 before rounding up at N386.00, having transacted a total of $68.14 million through the day. Please note that, margin between the close and open value is 0Bpts 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 18th September, 2020 closed at 2.00%, same as 1.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 18th September, 2020 ended at 1.00% that is 1.00% 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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