FeaturedMarket Update

Nigerian Stock Market Consolidates Profit Taking, as NSEASI Sheds 75Bpts

In another session of profit taking, trading activities on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer-NSEASI gave up 75Bpts and closed at 34,774.08 from 35,037.46. Safe NSE-LotusII and NSE-Industrial Goods Indexes that gained, other observed market indices in this report ended below their respective opening points as shown in the index movement table. Thus, Week to Date, the lead index is 75Bpts below opening while the total gained points in the month of November is now 1,390Bpts. See the index movement table below.

As expected, the market recorded the second pull back today, recall that this was started by the recent bullish run posted through the better part of last week. In our opinion, the ongoing profit taking move is normal, since the recent sharp positive moves had pushed good numbers of listed equities to their green zones YtD. We believe that, as long as the petroleum pump price remains up, inflation keeps trending high, and MPR is not adjusted to couching the eroded interest (by inflation), the stock market will remain attractive to smart funds. Nevertheless, we maintained that investors should only play equities with sound fundamental base.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N137.619 billion, same as 75Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 43 LAGERS. NSEASI Year to Date gain is now 2,955Bpts while the Market Capitalization Year to Date gain stood at N5.212 trillion same as 4,022Bpts above the year’s opening value.

Leading on the advancers’ log is BOC Gasses that added 9.92% of its previous close price and closed at N5.32 from N4.84. Neimeth followed on the log with 8.99% as it rounded up trade at N2.91 from N2.67. Unity Bank, Ardova and Bua-Cement completed the top 5 price percentage gainers’ log with 8.86%, 8.11% and 7.69% respectively.

On the flip side, NAHCO and OANDO led the losers’ table with 10.00% price loss as they both closed at N2.34 an N3.60 from N2.60 and N4.00 respectively. Dangote Sugar followed on the log with 9,91% to close at N20.00 from N22.20. Fidelity Bank and Livestock Feeds completed the top 5 price percentage losers list with 9.69% and 9.66% respectively.

Over the Counter Market Index and Capitalisation ended in the green, thus, rounded up at 729.33 and N542.11 billion respectively. Today’s performance produced one (1) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.82$/bbl, this is 243Bpts above the previous close price.

The I&E FX Window opened at N385.50 traded as high as N392.80 before rounding up at N386.00, having transacted a total of $111.38 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 closed at 1.00%, same as 0.38% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.50% that is 0.00% above 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 Consolidates Profit Taking, as NSEASI Sheds 75Bpts

In another session of profit taking, trading activities on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer-NSEASI gave up 75Bpts and closed at 34,774.08 from 35,037.46. Safe NSE-LotusII and NSE-Industrial Goods Indexes that gained, other observed market indices in this report ended below their respective opening points as shown in the index movement table. Thus, Week to Date, the lead index is 75Bpts below opening while the total gained points in the month of November is now 1,390Bpts. See the index movement table below.

As expected, the market recorded the second pull back today, recall that this was started by the recent bullish run posted through the better part of last week. In our opinion, the ongoing profit taking move is normal, since the recent sharp positive moves had pushed good numbers of listed equities to their green zones YtD. We believe that, as long as the petroleum pump price remains up, inflation keeps trending high, and MPR is not adjusted to couching the eroded interest (by inflation), the stock market will remain attractive to smart funds. Nevertheless, we maintained that investors should only play equities with sound fundamental base.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N137.619 billion, same as 75Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 43 LAGERS. NSEASI Year to Date gain is now 2,955Bpts while the Market Capitalization Year to Date gain stood at N5.212 trillion same as 4,022Bpts above the year’s opening value.

Leading on the advancers’ log is BOC Gasses that added 9.92% of its previous close price and closed at N5.32 from N4.84. Neimeth followed on the log with 8.99% as it rounded up trade at N2.91 from N2.67. Unity Bank, Ardova and Bua-Cement completed the top 5 price percentage gainers’ log with 8.86%, 8.11% and 7.69% respectively.

On the flip side, NAHCO and OANDO led the losers’ table with 10.00% price loss as they both closed at N2.34 an N3.60 from N2.60 and N4.00 respectively. Dangote Sugar followed on the log with 9,91% to close at N20.00 from N22.20. Fidelity Bank and Livestock Feeds completed the top 5 price percentage losers list with 9.69% and 9.66% respectively.

Over the Counter Market Index and Capitalisation ended in the green, thus, rounded up at 729.33 and N542.11 billion respectively. Today’s performance produced one (1) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 43.82$/bbl, this is 243Bpts above the previous close price.

The I&E FX Window opened at N385.50 traded as high as N392.80 before rounding up at N386.00, having transacted a total of $111.38 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 closed at 1.00%, same as 0.38% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.50% that is 0.00% above 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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