FeaturedMarket Update

Nigerian Stock Market Ends June in the Red as Traders Lost N398.592 Billion MtD

Rounding up the last trading day in the month of June, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 153Bpts of its trading points and closed at 24,479.16 from 24,858.82. Safe NSE-Consumer Goods Index that gained, other observed market indices in this report closed below their respective opening points, as shown in the index movement table. Thus, Week to Date, activities index is 141Bpts below opening while the total lost points in the month of June is 312Bpts. See the index movements table for details.

As noted above, NSEASI lost 312Bpts in June, while Market Capitalisation dipped by 3.03%, same as N398.592 billion. This is against the 976Bpts added to NSEASI trading points and N1.170 trillion gained by Market Capitalisation in May. The fact that the wave of Covid-19 pandemic was stronger in May compared to June is a signal that the market is reacting to other fundamental factor aside Covid-19. As noted in our previous reports, earnings expectation is the leading market fundamental at the moment. Thus, in our opinion, projecting the market trend will be clearer after receiving the half year numbers of listed equities with December year end. Kindly trade accordingly.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N198.053 billion, same as 153Bpts below the opening value. Meanwhile, trading activities for the day produced 10 ADVANCERS and 34 LAGERS. NSEASI Year to Date loss is now 880Bpts while the Market Capitalization Year to Date loss stood at N188.568 billion same as 146Bpts below the year’s opening value.

Leading on the gainers’ log is Neimeth with 10.00% as it ended today’s trade at N1.65 from N1.50. Okomu Oil followed closely with 9.94% gain, thus it closed at N77.40 from N70.40. ABC-Transport, Law-Union and Vitafoam completed the top 5 price percentage gainers’ list with 9.880%, 6.19% and 5.47% respectively.

Meanwhile, Cadbury and BUA-Cement led the decliners’ log with 10.00% loss each as they respectively closed at N6.75 and N38.70 from N7.50 and N43.00. Unity Bank followed with 9.43% while Berger Paints and Learn-Africa completed the to 5 list with 9.40% and 9.30% respectively.

Over the Counter Market Index and Capitalisation both ended on a flat note, thus, they both rounded up at point 715.51 and N525.59 billion respectively. Gainers and Losers log were empty at the end of trade.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.15$/bbl, this is 134Bpts below the previous close price.

The I&E FX Window opened at N387.10 traded as high as N389.99 before rounding up at N386.50, having transacted a total of $14.37 million through the day. Please note that, margin between the close and open value is 13Bpts 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 16.00%, same as 0.33% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00% that is 0.08% 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 Ends June in the Red as Traders Lost N398.592 Billion MtD

Rounding up the last trading day in the month of June, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 153Bpts of its trading points and closed at 24,479.16 from 24,858.82. Safe NSE-Consumer Goods Index that gained, other observed market indices in this report closed below their respective opening points, as shown in the index movement table. Thus, Week to Date, activities index is 141Bpts below opening while the total lost points in the month of June is 312Bpts. See the index movements table for details.

As noted above, NSEASI lost 312Bpts in June, while Market Capitalisation dipped by 3.03%, same as N398.592 billion. This is against the 976Bpts added to NSEASI trading points and N1.170 trillion gained by Market Capitalisation in May. The fact that the wave of Covid-19 pandemic was stronger in May compared to June is a signal that the market is reacting to other fundamental factor aside Covid-19. As noted in our previous reports, earnings expectation is the leading market fundamental at the moment. Thus, in our opinion, projecting the market trend will be clearer after receiving the half year numbers of listed equities with December year end. Kindly trade accordingly.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N198.053 billion, same as 153Bpts below the opening value. Meanwhile, trading activities for the day produced 10 ADVANCERS and 34 LAGERS. NSEASI Year to Date loss is now 880Bpts while the Market Capitalization Year to Date loss stood at N188.568 billion same as 146Bpts below the year’s opening value.

Leading on the gainers’ log is Neimeth with 10.00% as it ended today’s trade at N1.65 from N1.50. Okomu Oil followed closely with 9.94% gain, thus it closed at N77.40 from N70.40. ABC-Transport, Law-Union and Vitafoam completed the top 5 price percentage gainers’ list with 9.880%, 6.19% and 5.47% respectively.

Meanwhile, Cadbury and BUA-Cement led the decliners’ log with 10.00% loss each as they respectively closed at N6.75 and N38.70 from N7.50 and N43.00. Unity Bank followed with 9.43% while Berger Paints and Learn-Africa completed the to 5 list with 9.40% and 9.30% respectively.

Over the Counter Market Index and Capitalisation both ended on a flat note, thus, they both rounded up at point 715.51 and N525.59 billion respectively. Gainers and Losers log were empty at the end of trade.  Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 41.15$/bbl, this is 134Bpts below the previous close price.

The I&E FX Window opened at N387.10 traded as high as N389.99 before rounding up at N386.50, having transacted a total of $14.37 million through the day. Please note that, margin between the close and open value is 13Bpts 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 16.00%, same as 0.33% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00% that is 0.08% 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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