FeaturedMarket Update

Nigerian Stock Market Closes Green, as Half Year Earnings Season Commences

Equities trading on the floor of The Nigerian stock Exchange rounded up the first trading day of July in the positive territory, as the lead performance pointer NSEASI added 47Bpts and closed at 24,594.99 from 24,479.16. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 94Bpts below opening while the total gained points in the month of July is now 47Bpts. See the index movement table for details.

The month of July is usually the take-off month for the half year earnings season, and this will not be an exception. The long speculated half year numbers is expected to start hitting the market, at least from the second trading week of July. Recall that, investors are already expecting weak numbers; since the last three months business in various organisations must have been affected by the partial lockdown of the nation’s economy. In our opinion, how the market will judge listed equities for a systematic risk remained something no one can confidently predict. We  therefore recommend a heightened cautiousness around the market.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N60.421 billion, same as 47Bpts above the opening value. Meanwhile, trading activities for the day produced 12 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 837Bpts while the Market Capitalization Year to Date loss stood at N128.146 billion same as 99Bpts below the year’s opening value.

Leading on the advancers’ log is Cadbury with 9.63% gain that ended its price at N7.40 from N6.75. Sterling Bank emerged second on the list with 9.60% as it rounded up trade at N1.37 from N1.25. Chams and Japaul followed with 9.52% gain each while Bua-Cement completed the top 5 price percentage gainers log with 8.53%.

Decliners’ log on the other hand, was led by Neimeth with 9.70% loss, as it ended the day’s trade at N1.49 from N1.65. Learn Africa followed with N1.08 from N1.17, thus, it lost 7.69% of its previous close price. Wapic, Wema Bank and Jaiz Bank completed the list with 5.71%, 3.70% and 3.51% respectively. See the top performers’ log for details.

Over the Counter Market Index and Capitalisation gave up 88Bpts each, thus, they both rounded up at point 709.24 and N520.98 billion respectively. There is no gainer at the end of today’s trade, while Wampco closed down at N120.23 from N124.95.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.94$/bbl, this is 162Bpts above the previous close price.

The I&E FX Window opened at N387.08 traded as high as N387.00 before rounding up at N386.50, having transacted a total of $10.37 million through the day. Please note that, margin between the close and open value is 0Bpts flat. 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 12.90%, same as 3.10% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 11.80% that is 3.20% 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 Closes Green, as Half Year Earnings Season Commences

Equities trading on the floor of The Nigerian stock Exchange rounded up the first trading day of July in the positive territory, as the lead performance pointer NSEASI added 47Bpts and closed at 24,594.99 from 24,479.16. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, activities index is 94Bpts below opening while the total gained points in the month of July is now 47Bpts. See the index movement table for details.

The month of July is usually the take-off month for the half year earnings season, and this will not be an exception. The long speculated half year numbers is expected to start hitting the market, at least from the second trading week of July. Recall that, investors are already expecting weak numbers; since the last three months business in various organisations must have been affected by the partial lockdown of the nation’s economy. In our opinion, how the market will judge listed equities for a systematic risk remained something no one can confidently predict. We  therefore recommend a heightened cautiousness around the market.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N60.421 billion, same as 47Bpts above the opening value. Meanwhile, trading activities for the day produced 12 ADVANCERS and 22 LAGERS. NSEASI Year to Date loss is now 837Bpts while the Market Capitalization Year to Date loss stood at N128.146 billion same as 99Bpts below the year’s opening value.

Leading on the advancers’ log is Cadbury with 9.63% gain that ended its price at N7.40 from N6.75. Sterling Bank emerged second on the list with 9.60% as it rounded up trade at N1.37 from N1.25. Chams and Japaul followed with 9.52% gain each while Bua-Cement completed the top 5 price percentage gainers log with 8.53%.

Decliners’ log on the other hand, was led by Neimeth with 9.70% loss, as it ended the day’s trade at N1.49 from N1.65. Learn Africa followed with N1.08 from N1.17, thus, it lost 7.69% of its previous close price. Wapic, Wema Bank and Jaiz Bank completed the list with 5.71%, 3.70% and 3.51% respectively. See the top performers’ log for details.

Over the Counter Market Index and Capitalisation gave up 88Bpts each, thus, they both rounded up at point 709.24 and N520.98 billion respectively. There is no gainer at the end of today’s trade, while Wampco closed down at N120.23 from N124.95.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.94$/bbl, this is 162Bpts above the previous close price.

The I&E FX Window opened at N387.08 traded as high as N387.00 before rounding up at N386.50, having transacted a total of $10.37 million through the day. Please note that, margin between the close and open value is 0Bpts flat. 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 12.90%, same as 3.10% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 11.80% that is 3.20% 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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