FeaturedMarket Update

Nigerian Stock Market Ends on a Flat Note, Second Day Running

Equities trading on the floor of The Nigerian Stock Exchange rounded up on a flat note, as the lead performance pointer NSEASI closed at 28,344.04 from 28,344.33. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, lead index is 25Bpts below opening while the total gained points in the month of October is now 561Bpts. See the index movement for details.

After four consecutive bearish days (generally believed to have been started by profit taking activities), traders seem to be sitting on the fence, thus, keeping the lead index in a relaxing mood second day running. In our opinion, traders are currently playing safe from possible under-performance numbers expected from listed equities with December financial year; especially now that the inflation figure is on the rise. Please understand that, it is generally believed that, the true impact of the lock down will be more pronounced on third quarters numbers. We therefore maintained that traders should tread cautiously around the market.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N150.621 million, same as 0Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 12 LAGERS. NSEASI Year to Date gain is now 560Bpts while the Market Capitalization Year to Date gain stood at N1.856 trillion same as 1,433Bpts above the year’s opening value.

Eterna Oil led the advancers’ log with 9.98% price gain that closed its price at N5.29 from N4.81. Wapco followed suit with 4.03% gain that closed the price at N18.05 from N17.35. Guiness, International Breweries, and Pz-Cussons completed the top 5 price percentage gainers list with 3.23%, 3.19% and 2.38% respectively.

On the flip side, AIICO led on the losers’ log with 3.57% loss to close at N0.81 from N0.84. Glaxo-Smithkline followed with 3.45% as it rounded up at N5.60 from N5.80. Fidson Healthcare, African Prudential and Guaranty Trust Bank completed the top 5 price percentage losers’ log with 3.00%, 2.81% and 1.67% loss respectively.

Over the Counter Market Index and Capitalisation ended in the negative territory by 0.16% , thus, rounded up at 728.74 and N535.31 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 43.11$/bbl, this is 48Bpts below the previous close price.

The I&E FX Window opened at N386.38 traded as high as N392.78 before rounding up at N385.67, having transacted a total of $166.65 million through the day. Please note that, margin between the close and open value is 4Bpts down. 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 15th October, 2020 closed at 2.17%, same as 0.46% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 15th October, 2020 ended at 1.33% that is 0.42% 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 Ends on a Flat Note, Second Day Running

Equities trading on the floor of The Nigerian Stock Exchange rounded up on a flat note, as the lead performance pointer NSEASI closed at 28,344.04 from 28,344.33. It was a mixed performance amongst the observed market indices in this report. Thus, Week to Date, lead index is 25Bpts below opening while the total gained points in the month of October is now 561Bpts. See the index movement for details.

After four consecutive bearish days (generally believed to have been started by profit taking activities), traders seem to be sitting on the fence, thus, keeping the lead index in a relaxing mood second day running. In our opinion, traders are currently playing safe from possible under-performance numbers expected from listed equities with December financial year; especially now that the inflation figure is on the rise. Please understand that, it is generally believed that, the true impact of the lock down will be more pronounced on third quarters numbers. We therefore maintained that traders should tread cautiously around the market.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N150.621 million, same as 0Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 12 LAGERS. NSEASI Year to Date gain is now 560Bpts while the Market Capitalization Year to Date gain stood at N1.856 trillion same as 1,433Bpts above the year’s opening value.

Eterna Oil led the advancers’ log with 9.98% price gain that closed its price at N5.29 from N4.81. Wapco followed suit with 4.03% gain that closed the price at N18.05 from N17.35. Guiness, International Breweries, and Pz-Cussons completed the top 5 price percentage gainers list with 3.23%, 3.19% and 2.38% respectively.

On the flip side, AIICO led on the losers’ log with 3.57% loss to close at N0.81 from N0.84. Glaxo-Smithkline followed with 3.45% as it rounded up at N5.60 from N5.80. Fidson Healthcare, African Prudential and Guaranty Trust Bank completed the top 5 price percentage losers’ log with 3.00%, 2.81% and 1.67% loss respectively.

Over the Counter Market Index and Capitalisation ended in the negative territory by 0.16% , thus, rounded up at 728.74 and N535.31 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 43.11$/bbl, this is 48Bpts below the previous close price.

The I&E FX Window opened at N386.38 traded as high as N392.78 before rounding up at N385.67, having transacted a total of $166.65 million through the day. Please note that, margin between the close and open value is 4Bpts down. 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 15th October, 2020 closed at 2.17%, same as 0.46% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 15th October, 2020 ended at 1.33% that is 0.42% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

Comment here