FeaturedMarket Update

Nigerian Stock Market Closes Flat, As the Bear Takes A Brief Leave

Suspending negative move, equities trading on the floor of the Nigerian Stock Exchange ended on a flat note, as the lead performance pointer, NSEASI gave up marginal 0.0017Bpt, and closed at 37,857.24 from 37,857.89. Safe NGX-Consumer Goods and NSE-Banking Indexes that gained, other observed market indices in this report closed below their respective openings. Thus, WtD, the lead index is 36Bpts below opening, while the total lost points in the month of July is now 13Bpts. See the index movement table for details.

As the market ride further into the third quarter of the year, while preparing for the half year earnings numbers, sentiments around the market remained mixed. Please note that the National Bureau of Statistics is expected to release the headline inflation figure for the month of June within this week, according to NBS, this should be expected on Thursday 15th July, 2021. Similarly, the 136th MPC Meeting shall come up between 24th & 25th July. As noted in our previous reports, reactions to the Headline Inflation within the stock market will be mild, while traders will slow down next week for MPC Meeting. Should we go by the numbers release by equities with March accounts, one can safely predict more positive half year earnings, nevertheless, global economy remained mixed due to varying response to Covid-19 spread, although the trend is mild in the local environment. We maintained a cautious play around the market.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N337.921 million, same as 0.0017Bpts below the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 599Bpts while the Market Capitalization Year to Date loss stood at N1.332 trillion same as 633Bpts below the year’s opening value.

Leading on the advancers’ log is NCR with 9.64% gain above its previous close point, thus it rounded up at N2.73 from N2.49. Wema Bank followed with 9.46% gain to round up trade at N0.81 from N0.74. FTNCocoa, NPFMCRFBK and Lasaco completed the top 5 price percentage gainers log with 8.33%, 6.87% and 6.67% respectively.

On the flip side, Ikeja Hotel led with 9.09% loss, as it rounded up trade at N1.40 from N1.54. Custodian followed closely with 6.15% loss to close at N6.10 from N6.50. Japaul Gold, Mutual Benefits and FBNH completed the top 5 price percentage losers’ log with 5.66%, 4.76% and 4.00% respectively.

Over the Counter (OTC) Market Index and closed in the green by respectively adding 0.12% each, and rounding up at 762.02 and N541.65 billion. Today’s performance produced two (2) advancers, and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 76.26$/bbl, this is 30Bpts below the last close price.

The I&E FX Window opened at N411.82 traded as high as N412.50 before rounding up at N411.75, having transacted a total of $116.15 million through the day. Please note that, margin between the close and open value is 6Bpts 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 closed at 19.00%, same as 4.00% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 18.50% that is 4.00% above the previous close. Safe Trade.

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FeaturedMarket Update

Nigerian Stock Market Closes Flat, As the Bear Takes A Brief Leave

Suspending negative move, equities trading on the floor of the Nigerian Stock Exchange ended on a flat note, as the lead performance pointer, NSEASI gave up marginal 0.0017Bpt, and closed at 37,857.24 from 37,857.89. Safe NGX-Consumer Goods and NSE-Banking Indexes that gained, other observed market indices in this report closed below their respective openings. Thus, WtD, the lead index is 36Bpts below opening, while the total lost points in the month of July is now 13Bpts. See the index movement table for details.

As the market ride further into the third quarter of the year, while preparing for the half year earnings numbers, sentiments around the market remained mixed. Please note that the National Bureau of Statistics is expected to release the headline inflation figure for the month of June within this week, according to NBS, this should be expected on Thursday 15th July, 2021. Similarly, the 136th MPC Meeting shall come up between 24th & 25th July. As noted in our previous reports, reactions to the Headline Inflation within the stock market will be mild, while traders will slow down next week for MPC Meeting. Should we go by the numbers release by equities with March accounts, one can safely predict more positive half year earnings, nevertheless, global economy remained mixed due to varying response to Covid-19 spread, although the trend is mild in the local environment. We maintained a cautious play around the market.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N337.921 million, same as 0.0017Bpts below the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 599Bpts while the Market Capitalization Year to Date loss stood at N1.332 trillion same as 633Bpts below the year’s opening value.

Leading on the advancers’ log is NCR with 9.64% gain above its previous close point, thus it rounded up at N2.73 from N2.49. Wema Bank followed with 9.46% gain to round up trade at N0.81 from N0.74. FTNCocoa, NPFMCRFBK and Lasaco completed the top 5 price percentage gainers log with 8.33%, 6.87% and 6.67% respectively.

On the flip side, Ikeja Hotel led with 9.09% loss, as it rounded up trade at N1.40 from N1.54. Custodian followed closely with 6.15% loss to close at N6.10 from N6.50. Japaul Gold, Mutual Benefits and FBNH completed the top 5 price percentage losers’ log with 5.66%, 4.76% and 4.00% respectively.

Over the Counter (OTC) Market Index and closed in the green by respectively adding 0.12% each, and rounding up at 762.02 and N541.65 billion. Today’s performance produced two (2) advancers, and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 76.26$/bbl, this is 30Bpts below the last close price.

The I&E FX Window opened at N411.82 traded as high as N412.50 before rounding up at N411.75, having transacted a total of $116.15 million through the day. Please note that, margin between the close and open value is 6Bpts 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 closed at 19.00%, same as 4.00% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 18.50% that is 4.00% above the previous close. Safe Trade.

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