FeaturedMarket Update

Nigerian Stock Market Dips as End-Sars Peaceful Protest Goes Bad

Equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory as the lead performance pointer, NSEASI gave up 75Bpts and closed at 28,449.49 from 28,665.82. Safe NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening. Thus, Week to Date, lead index is 73Bpts below opening while the total gained points in the month of October adjusted down to 601Bpts. See the index movement table for details.

Today’s negative performance was undoubtedly induced by the gory response from the to the ongoing End-Sars youth protest. In our opinion, investors/traders that experienced the damaged done to equities performances on the floor of the exchange at the pick of Covid-19 pandemic, will not think twice before taking cover. Please understand that, before now, traders had been sitting on the fence, holding on to see the true impact of Covid-19 on various listed companies’ business activities, and now that the nation seems to be heading towards another lock down, it is wise to take a defensive move against possible effect on market performances.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N113.072 billion, same as 75Bpts below the opening value. Meanwhile, trading activities for the day produced 04 ADVANCERS and 34 LAGERS. NSEASI Year to Date gain is now 599Bpts while the Market Capitalization Year to Date gain stood at N1.911 trillion same as 1,475Bpts above the year’s opening value.

Leading the only four advancers in the market today is Wapic that gained 10>00% to close at N0.44 from N0.40. Portland Paint followed with 2.50% as it rounded up trade at N2.05 from N2.00. UAC-PROP and Nigerian Breweries completed the gainers for the day with 1.23% and 0.97% respectively

On the flip side, Royal Exchange led with 8.00% loss, thus it rounded up today’s trade at N0.23 from N0.25. Neimeth followed closely on the log with 7.57% that closed its price at N1.71 from N1.85. Union Diagnostic, Lasaco and UCAP completed the top five price percentage gainers list for the day with 7.41%, 7.14% and 7.03% loss respectively.

Over the Counter Market Index and Capitalisation ended on a flat note, thus, rounded up at 717.10 and N526.76 billion respectively. Today’s performance produced zero (0) advancer and zero (0) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.73$/bbl, this is 331Bpts below the previous close price.

The I&E FX Window opened at N386.24 traded as high as N386.00 before rounding up at N385.75, having transacted a total of $6.05 million through the day. Please note that, margin between the close and open value is 0Bpts above. 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 21st October, 2020 closed at 0.88%, same as 0.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 21st October, 2020 ended at 0.50% that is 0.00% 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 Dips as End-Sars Peaceful Protest Goes Bad

Equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory as the lead performance pointer, NSEASI gave up 75Bpts and closed at 28,449.49 from 28,665.82. Safe NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening. Thus, Week to Date, lead index is 73Bpts below opening while the total gained points in the month of October adjusted down to 601Bpts. See the index movement table for details.

Today’s negative performance was undoubtedly induced by the gory response from the to the ongoing End-Sars youth protest. In our opinion, investors/traders that experienced the damaged done to equities performances on the floor of the exchange at the pick of Covid-19 pandemic, will not think twice before taking cover. Please understand that, before now, traders had been sitting on the fence, holding on to see the true impact of Covid-19 on various listed companies’ business activities, and now that the nation seems to be heading towards another lock down, it is wise to take a defensive move against possible effect on market performances.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N113.072 billion, same as 75Bpts below the opening value. Meanwhile, trading activities for the day produced 04 ADVANCERS and 34 LAGERS. NSEASI Year to Date gain is now 599Bpts while the Market Capitalization Year to Date gain stood at N1.911 trillion same as 1,475Bpts above the year’s opening value.

Leading the only four advancers in the market today is Wapic that gained 10>00% to close at N0.44 from N0.40. Portland Paint followed with 2.50% as it rounded up trade at N2.05 from N2.00. UAC-PROP and Nigerian Breweries completed the gainers for the day with 1.23% and 0.97% respectively

On the flip side, Royal Exchange led with 8.00% loss, thus it rounded up today’s trade at N0.23 from N0.25. Neimeth followed closely on the log with 7.57% that closed its price at N1.71 from N1.85. Union Diagnostic, Lasaco and UCAP completed the top five price percentage gainers list for the day with 7.41%, 7.14% and 7.03% loss respectively.

Over the Counter Market Index and Capitalisation ended on a flat note, thus, rounded up at 717.10 and N526.76 billion respectively. Today’s performance produced zero (0) advancer and zero (0) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.73$/bbl, this is 331Bpts below the previous close price.

The I&E FX Window opened at N386.24 traded as high as N386.00 before rounding up at N385.75, having transacted a total of $6.05 million through the day. Please note that, margin between the close and open value is 0Bpts above. 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 21st October, 2020 closed at 0.88%, same as 0.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 21st October, 2020 ended at 0.50% that is 0.00% 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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