FeaturedMarket Update

Nigerian Stock Market Remains Attractive, As MPC Keeps Rates at Status quo

Recovering some lost grounds, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 65Bpts and closed at 34,340.56 from 34,119.74. All observed market indices in this report ended in the green as shown in the index movement table. Thus, Week to Date the lead index is 60Bpts above opening, while the total gained points in the month of November is now 1,248BPts. See the index movement table for details.

The monetary policy committee (MPC), ended its two days meeting today with the decision retain all rates. The move which regained confidence back to the stock market, contributed largely to the recovery posted today. In our opinion, the just released nine months financial statistics (by equities with December yearend) should be the major investment guide at the moment. We also believed that, movements in economic indicators/policies will sharply dictates market direction from now, since, the nine months earnings season has ended, and the next major earnings season will commence after the first quarter of next year. Kindly trade accordingly.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N113.378 billion, same as 64Bpts above the opening value. Meanwhile, trading activities for the day produced 26 ADVANCERS and 16 LAGERS. NSEASI Year to Date gain is now 2,794Bpts while the Market Capitalization Year to Date gain stood at N4.984 trillion same as 3,847Bpts above the year’s opening value.

UPDCREIT led the advancers’ log with 9.64% as it closed at N4.55 from N4.15. UCAP followed closely with 9.52% gain that closed its price at N4.60 from N4.20. Fidelity Bank Mutual Benefit and Cornerstone completed the top 5 price percentage gainers log with 9.47%, 8.70% and 8.62% respectively.

On the flip side, Eterna Oil led with 9.98% loss as it ended at N4.15 from N4.61. Fidson Healthcare followed with 9.81% to close at N4.87 from N5.40. Champion Breweries, Julius Berger and Chams completed the top 5 price percentage losers log with 9.43%, 8.95% and 8.33% respectively.

Over the Counter Market Index and Capitalisation on in the red, shedding 0.07% each, thus, rounded up at 735.99 and N547.06 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 47.82$/bbl, this is 382Bpts above the previous close price.

The I&E FX Window opened at N385.96 traded as high as N394.83 before rounding up at N385.50, having transacted a total of $163.87 million through the day. Please note that, margin between the close and open value is 13Bpts 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 closed at 1.31%, same as 1.19% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.88% that is 1.13% 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 Remains Attractive, As MPC Keeps Rates at Status quo

Recovering some lost grounds, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 65Bpts and closed at 34,340.56 from 34,119.74. All observed market indices in this report ended in the green as shown in the index movement table. Thus, Week to Date the lead index is 60Bpts above opening, while the total gained points in the month of November is now 1,248BPts. See the index movement table for details.

The monetary policy committee (MPC), ended its two days meeting today with the decision retain all rates. The move which regained confidence back to the stock market, contributed largely to the recovery posted today. In our opinion, the just released nine months financial statistics (by equities with December yearend) should be the major investment guide at the moment. We also believed that, movements in economic indicators/policies will sharply dictates market direction from now, since, the nine months earnings season has ended, and the next major earnings season will commence after the first quarter of next year. Kindly trade accordingly.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N113.378 billion, same as 64Bpts above the opening value. Meanwhile, trading activities for the day produced 26 ADVANCERS and 16 LAGERS. NSEASI Year to Date gain is now 2,794Bpts while the Market Capitalization Year to Date gain stood at N4.984 trillion same as 3,847Bpts above the year’s opening value.

UPDCREIT led the advancers’ log with 9.64% as it closed at N4.55 from N4.15. UCAP followed closely with 9.52% gain that closed its price at N4.60 from N4.20. Fidelity Bank Mutual Benefit and Cornerstone completed the top 5 price percentage gainers log with 9.47%, 8.70% and 8.62% respectively.

On the flip side, Eterna Oil led with 9.98% loss as it ended at N4.15 from N4.61. Fidson Healthcare followed with 9.81% to close at N4.87 from N5.40. Champion Breweries, Julius Berger and Chams completed the top 5 price percentage losers log with 9.43%, 8.95% and 8.33% respectively.

Over the Counter Market Index and Capitalisation on in the red, shedding 0.07% each, thus, rounded up at 735.99 and N547.06 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 47.82$/bbl, this is 382Bpts above the previous close price.

The I&E FX Window opened at N385.96 traded as high as N394.83 before rounding up at N385.50, having transacted a total of $163.87 million through the day. Please note that, margin between the close and open value is 13Bpts 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 closed at 1.31%, same as 1.19% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.88% that is 1.13% 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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