FeaturedMarket Update

Nigerian Stock Market Maintains Upbeat, Gains 190Bpts

Positive sentiments continued on the floor of the Nigerian Stock Exchange, as the lead performance pointer-NSEASI, closed in the positive territory by adding 190Bpts to close at 33,268.36 from 32,747.10. All observed market indices in this report closed above their respective opening points as shown in the index movement table. Thus, Week to Date, lead activities index is 726Bpts above opening while the total gained points in the month of November is now 897Bpts. See the index movement table for details.

It is no news that the stock market is about the only attractive trading platform at the moment, this is due to crash in return rate in other capital market instruments. We are of the opinion that, funds exiting other markets are currently finding their ways into the stock market, and this is mainly responsible for the strong positive moves seen so far. Nevertheless, the ongoing release of nine months financial performance indices and the various news of discoveries of vaccine to combat the most dreaded Corona virus also contributed to positive sentiments around the market. We expect the surge to induce short profit taking before the week runs off.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N324.627 billion, same as 190Bpts above the opening value. Meanwhile, trading activities for the day produced 51 ADVANCERS and 07 LAGERS. NSEASI Year to Date gain is now 2,394Bpts while the Market Capitalization Year to Date gain stood at N4.425 trillion same as 3,415Bpts above the year’s opening value.

Four equities tied on the gainers log with 10.00% gain above their respective opening points. The leading gainers are Sterling Bank, Fidson Healthcare, Guinness and Neimeth that respectively closed at N2.20, N4.95, N20.90 and N2.42 from N2.00, N4.50, N19.00 and N2.20. meanwhile, Glaxo Smithkline completed the top 5 price percentage gainers list with 9.85% to close at N7.25 from N6.60.

On the flip side, Learn Africa led with 4.76% loss, thus it rounded up today’s trade at N1.00 from N1.05. C&ILeasing followed closely on the log with 4.65% that closed its price at N4.10 from N4.30. Stanbic IBTC, Linkage Assurance and Red Star Express completed the top five price percentage gainers list for the day with 4.17%, 4.08% and 3.68% loss respectively.

Over the Counter Market Index and Capitalisation ended a flat note, thus, rounded up at 719.40 and N528.44 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 43.72$/bbl, this is 25Bpts above the previous close price.

The I&E FX Window opened at N385.99 traded as high as N393.43 before rounding up at N385.83, having transacted a total of $205.05 million through the day. Please note that, margin between the close and open value is 4Bpts 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 1.05%, same as 0.14% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.64% that is 0.11% above 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

FeaturedMarket Update

Nigerian Stock Market Maintains Upbeat, Gains 190Bpts

Positive sentiments continued on the floor of the Nigerian Stock Exchange, as the lead performance pointer-NSEASI, closed in the positive territory by adding 190Bpts to close at 33,268.36 from 32,747.10. All observed market indices in this report closed above their respective opening points as shown in the index movement table. Thus, Week to Date, lead activities index is 726Bpts above opening while the total gained points in the month of November is now 897Bpts. See the index movement table for details.

It is no news that the stock market is about the only attractive trading platform at the moment, this is due to crash in return rate in other capital market instruments. We are of the opinion that, funds exiting other markets are currently finding their ways into the stock market, and this is mainly responsible for the strong positive moves seen so far. Nevertheless, the ongoing release of nine months financial performance indices and the various news of discoveries of vaccine to combat the most dreaded Corona virus also contributed to positive sentiments around the market. We expect the surge to induce short profit taking before the week runs off.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N324.627 billion, same as 190Bpts above the opening value. Meanwhile, trading activities for the day produced 51 ADVANCERS and 07 LAGERS. NSEASI Year to Date gain is now 2,394Bpts while the Market Capitalization Year to Date gain stood at N4.425 trillion same as 3,415Bpts above the year’s opening value.

Four equities tied on the gainers log with 10.00% gain above their respective opening points. The leading gainers are Sterling Bank, Fidson Healthcare, Guinness and Neimeth that respectively closed at N2.20, N4.95, N20.90 and N2.42 from N2.00, N4.50, N19.00 and N2.20. meanwhile, Glaxo Smithkline completed the top 5 price percentage gainers list with 9.85% to close at N7.25 from N6.60.

On the flip side, Learn Africa led with 4.76% loss, thus it rounded up today’s trade at N1.00 from N1.05. C&ILeasing followed closely on the log with 4.65% that closed its price at N4.10 from N4.30. Stanbic IBTC, Linkage Assurance and Red Star Express completed the top five price percentage gainers list for the day with 4.17%, 4.08% and 3.68% loss respectively.

Over the Counter Market Index and Capitalisation ended a flat note, thus, rounded up at 719.40 and N528.44 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 43.72$/bbl, this is 25Bpts above the previous close price.

The I&E FX Window opened at N385.99 traded as high as N393.43 before rounding up at N385.83, having transacted a total of $205.05 million through the day. Please note that, margin between the close and open value is 4Bpts 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 1.05%, same as 0.14% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.64% that is 0.11% above 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