FeaturedMarket Update

Nigerian Stock Market Dives Further South, As NSEASI Gives Up 90Bpts

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer-NSEASI gave up 90Bpts of its trading points, thus it closed at 25,956.04 from 25,182.67. Safe NSE-Insurance index that gained, other observed market indices in this report ended in the red. Thus, Week to Date, the lead activities index is 90Bpts below opening while the total lost points in the month of June is now 123Bpts. See the index movement table for details.

The market recorded its third red day today, having struggling against a major resistance without success. We are of the opinion that a proper pull back may generate attraction towards the market, as listed equities will become more attractive. Thus,  points of trade at the moment includes; detecting policy impact on equities of choice, playing by closure dates of various listed equities that recently announced their full year cash dividend, identifying equities with half year incentives, and testing equities with March financial year end for dividend payment consistency.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N119.158 billion, same as 91Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 25 LAGERS. NSEASI Year to Date loss is now 703Bpts while the Market Capitalization Year to Date gain stood at N59.269 billion same as 46Bpts above the year’s opening value.

Both Red Star Express and Fidson Healthcare led the advancers’ log with 10.00% each, as they rounded up at N3.63 and N3.30 from N3.30 and N3.00 respectively. Cornerstone Insurance followed closely with 9.80% as it ended at N0.56 from N0.51. HoneyWell Flour and Unity Bank completed the top 5 price percentage gainers’ log with 9.78% and 8.77% respectively.

Prestige Assurance led the decliners’ log with 10.00% loss as it closed at N0.63 from N0.70. Neimeth followed with 9.73% loss thus, closed at N2.32 from N2.57. AIICO, ETI and UAC-Properties completed the log with 9.32%, 7.34% and 6.73% respectively.

As at the time this report was gathered, Brent Crude sells at 39.79$/bbl, this is 274Bpts above the previous close price.

The I&E FX Window opened at N387.46 traded as high as N391.29 before rounding up at N386.50, having transacted a total of $14.27 million through the day. Please note that, margin between the close and open value is 19Bpts 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 6.92%, same as 2.92% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.83% that is 3.00% 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 Dives Further South, As NSEASI Gives Up 90Bpts

Starting up the new week, equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory, as the lead performance pointer-NSEASI gave up 90Bpts of its trading points, thus it closed at 25,956.04 from 25,182.67. Safe NSE-Insurance index that gained, other observed market indices in this report ended in the red. Thus, Week to Date, the lead activities index is 90Bpts below opening while the total lost points in the month of June is now 123Bpts. See the index movement table for details.

The market recorded its third red day today, having struggling against a major resistance without success. We are of the opinion that a proper pull back may generate attraction towards the market, as listed equities will become more attractive. Thus,  points of trade at the moment includes; detecting policy impact on equities of choice, playing by closure dates of various listed equities that recently announced their full year cash dividend, identifying equities with half year incentives, and testing equities with March financial year end for dividend payment consistency.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N119.158 billion, same as 91Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 25 LAGERS. NSEASI Year to Date loss is now 703Bpts while the Market Capitalization Year to Date gain stood at N59.269 billion same as 46Bpts above the year’s opening value.

Both Red Star Express and Fidson Healthcare led the advancers’ log with 10.00% each, as they rounded up at N3.63 and N3.30 from N3.30 and N3.00 respectively. Cornerstone Insurance followed closely with 9.80% as it ended at N0.56 from N0.51. HoneyWell Flour and Unity Bank completed the top 5 price percentage gainers’ log with 9.78% and 8.77% respectively.

Prestige Assurance led the decliners’ log with 10.00% loss as it closed at N0.63 from N0.70. Neimeth followed with 9.73% loss thus, closed at N2.32 from N2.57. AIICO, ETI and UAC-Properties completed the log with 9.32%, 7.34% and 6.73% respectively.

As at the time this report was gathered, Brent Crude sells at 39.79$/bbl, this is 274Bpts above the previous close price.

The I&E FX Window opened at N387.46 traded as high as N391.29 before rounding up at N386.50, having transacted a total of $14.27 million through the day. Please note that, margin between the close and open value is 19Bpts 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 6.92%, same as 2.92% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.83% that is 3.00% 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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