FeaturedMarket Update

Nigerian Stock Market Records Another Positive Month, As Portfolios Recover N2.351 Trillion MoM

Rounding up the last trading day in the month of November, 2020, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory as the lead performance pointer NSEASI added 45Bpts to its trading points and closed at 35,042.14 from 34,885.51. Nevertheless, safe NSE-Insurance and NSE-Oil & Gas indices that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead activities index is 45Bpts above opening while the total gained points in the month of November is 1,478Bpts. See the index movement table for details.

The month of November finally ended in the positive territory with all major market indices closing above their respective opening points. The month witnessed the release of nine months financial numbers, from listed equities with December financial year. Other leading market fundamentals in the month are; the improved market attraction due to rate crash in other fixed income trading instruments, the increase in the PMS pump price, which induced further increase in the headline inflation rate, the two days MPC meeting that almost scared the bull off the market, and lastly the devaluation of the nation’s currency by the apex bank towards the very end of November. As noted above, the month eventually closed positively, and by this, it had recorded four consecutive positive months, or eight green months in the eleven trading months, observed so far in 2020. Kindly watch out for the yearend window dressing rally and Santa Clause rally in the new month.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N81.838 billion, same as 45Bpts above the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 29 LAGERS. NSEASI Year to Date gain is now 3,055Bpts while the Market Capitalization Year to Date gain stood at N5.351 trillion same as 4,130Bpts above the year’s opening value.

Leading on the advancers’ log is AIICO Insurance and Airtel Africa that gained 10.00% of their respective previous close price, thus closing at N1.10 and N588.50 from N1.00 and N535.00 respectively. Tripple Gee followed on the log with 9.09% gain to close at N0,60 from N0.55. Japaul Oil and Union Diagnostic completed the top 5 price percentage gainers’ list with 8.33% and 8.00% gain respectively.

On the flip side, NNFM and Cutix led with 10.00% loss each, to close at N6.93 and N1.53 from N7.70 and N1.70 respectively. Fidson followed with 9.87% loss while Neimeth and Learn Africa completed the top 5 list with 9.63% and 9.57% respectively.

Over the Counter Market Index and Capitalisation ended in the redby 0.50% each, thus, rounded up at 732.29 and N544.31 billion respectively. Today’s performance produced zero (0) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 47.59$/bbl, this is 122Bpts below the previous close price.

The I&E FX Window opened at N390.35 traded as high as N399.87 before rounding up at N390.35, having transacted a total of $35.15 million through the day. Please note that, margin between the close and open value is 0Bpts 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 1.44%, same as 0.06% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 1.13% that is 0.13% 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 Records Another Positive Month, As Portfolios Recover N2.351 Trillion MoM

Rounding up the last trading day in the month of November, 2020, equities trading on the floor of The Nigerian Stock Exchange ended in the positive territory as the lead performance pointer NSEASI added 45Bpts to its trading points and closed at 35,042.14 from 34,885.51. Nevertheless, safe NSE-Insurance and NSE-Oil & Gas indices that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead activities index is 45Bpts above opening while the total gained points in the month of November is 1,478Bpts. See the index movement table for details.

The month of November finally ended in the positive territory with all major market indices closing above their respective opening points. The month witnessed the release of nine months financial numbers, from listed equities with December financial year. Other leading market fundamentals in the month are; the improved market attraction due to rate crash in other fixed income trading instruments, the increase in the PMS pump price, which induced further increase in the headline inflation rate, the two days MPC meeting that almost scared the bull off the market, and lastly the devaluation of the nation’s currency by the apex bank towards the very end of November. As noted above, the month eventually closed positively, and by this, it had recorded four consecutive positive months, or eight green months in the eleven trading months, observed so far in 2020. Kindly watch out for the yearend window dressing rally and Santa Clause rally in the new month.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N81.838 billion, same as 45Bpts above the opening value. Meanwhile, trading activities for the day produced 17 ADVANCERS and 29 LAGERS. NSEASI Year to Date gain is now 3,055Bpts while the Market Capitalization Year to Date gain stood at N5.351 trillion same as 4,130Bpts above the year’s opening value.

Leading on the advancers’ log is AIICO Insurance and Airtel Africa that gained 10.00% of their respective previous close price, thus closing at N1.10 and N588.50 from N1.00 and N535.00 respectively. Tripple Gee followed on the log with 9.09% gain to close at N0,60 from N0.55. Japaul Oil and Union Diagnostic completed the top 5 price percentage gainers’ list with 8.33% and 8.00% gain respectively.

On the flip side, NNFM and Cutix led with 10.00% loss each, to close at N6.93 and N1.53 from N7.70 and N1.70 respectively. Fidson followed with 9.87% loss while Neimeth and Learn Africa completed the top 5 list with 9.63% and 9.57% respectively.

Over the Counter Market Index and Capitalisation ended in the redby 0.50% each, thus, rounded up at 732.29 and N544.31 billion respectively. Today’s performance produced zero (0) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 47.59$/bbl, this is 122Bpts below the previous close price.

The I&E FX Window opened at N390.35 traded as high as N399.87 before rounding up at N390.35, having transacted a total of $35.15 million through the day. Please note that, margin between the close and open value is 0Bpts 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 1.44%, same as 0.06% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 1.13% that is 0.13% 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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