Maintaining positive path, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer-NSEASI gained 18Bpts and closed at 25,460.00 from 25,413.95. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, lead activities index is 94Bpts above opening while the total gained points in the new month is now 52Bpts. See the index movement table for details.
The concluding month of the third quarter maintained positive side, riding further on the wings of expected earnings. Further boosting investors’ mood during today’s trading session is the release of the belated half year numbers of two financial institutions. United bank for Africa (UBA) announced 17k interim cash dividend while Stanbic IBTC reported 40k interim dividend. Although UBA profit stood below comparable quarter, it consolidated for the low performance in the Total Comprehensive Income, same goes for Stanbic IBTC. As noted in our previous reports, expected earnings and positioning for third quarters numbers will work with economic indicators in determining market performance through September.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N23.892 billion, same as 18Bpts above the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 11 LAGERS. NSEASI Year to Date loss is now 515Bpts while the Market Capitalization Year to Date gain stood at N323.733 billion same as 250Bpts above the year’s opening value.
Leading on the gainers’ log is Cornerstone Insurance that improved by 8.33% and closed at N0.65 from N0.60. Union Diagnostic followed on the log with 8.00% gain, thus, it rounded up trade at N0.27 from N0.25. Rgency Alliance, Sterling Bank and Transcorp completed the top 5 price percentage gainers’ list with 4.35%, 4.17% and 3.51% respectively.
On the flip side, InitsPlc and Academy Press led with 10.00% to close at N0.63 and N0.27 from N0.70 and N0.30 respectively. Mansard followed with 9.24% to close at N1.67 from N1.84. UAC-Properties and Glaxo-Smithkline competed the top 5 price percentage losers’ log with 8.70% and 4.90% respectively.
Over the Counter Market Index and Capitalisation both closed on a flat note, thus they closed at point 709.45 and N521.14 billion respectively. Today’s performance produced zero advancer and zero decliner. Kindly view today’s price list Here.
As at the time this report was gathered, Brent Crude sells at 4.43$/bbl, this is 252Bpts below the previous close price.
The I&E FX Window opened at N386.08 traded as high as N395.13 before rounding up at N386.00, having transacted a total of $38.46 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 1st September, 2020 closed at 5.33%, same as 1.04% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 1st September, 2020 ended at 4.67% that is 1.08% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.