FeaturedMarket Update

Nigerian Stock Market Rides on Drop Rates in Fixed Income Market, Others, Adds 72Bpts

Complimenting positive moves, equities trading on the floor of The Nigerian Stock Exchange ended the first trading day of the week in the green as the lead index NSEASI added 72Bpts to close at 26,507.84 from 26,319.34. All observed sub market indices in this report closed above their respective opening points. Thus, Week to Date, activities index is 72Bpts above opening while the total gained points in the month of September is now 466Bpts. See the index movement table for details.

The market had maintained an upside drive for the seventh consecutive trading days, and has pitched the 26,000 trading points, bringing the year to date return on NSEASI to a negative 2.25%. In our opinion, attraction to the market is cantered on the negative real returns in other key capital market investment windows. As observed in the the fix income instruments, activities dwindled daily, as smart money now scout for a more profitable platform presented by the stock market. Although this is the situation at the moment, we recommend that investors should be mindful of revaluation that may take place if the third quarter numbers come below expectations.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N98.510 billion, same as 72Bpts above the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 07 LAGERS. NSEASI Year to Date loss is now 125Bpts while the Market Capitalization Year to Date gain stood at N895.008 billion same as 691Bpts above the year’s opening value.

Total led the advancers’ log with 10.00% as it rounded up trade at N88.00 from N80.00. Champion Breweries followed with 9.88% gain, thus, closed at N0.89 from N0.81. Oando, AIICO and CHIPLC completed the top 5 price percentage gainers log with 9.85%, 9.72% and 8.82% respectively.

On the flip side UAC-Properties led with 10.00% loss that closed its price at N0.90 from N1.00. UPL followed on the log with 6.34% as it rounded up trade at N1.33 from N1.42. Caverton, May&Baker and Wema Bank Completed the top 5 price percentage losers’ log with 5.98%, 5.54% and 3.64% respectively.

Over the Counter Market Index and Capitalisation both ended in the green as they both gained 0.07% each, thereby closing at point 733.11 and N538.52 billion respectively. Today’s performance produced one (1) advancer and zero (0) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 42.25$/bbl, this is 79Bpts above the previous close price.

The I&E FX Window opened at N386.25 traded as high as N391.37 before rounding up at N386.00, having transacted a total of $85.43 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 as 25th September, 2020 closed at 4.00%, same as 7.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 25th September, 2020 ended at 3.00% that is 7.33% 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 Rides on Drop Rates in Fixed Income Market, Others, Adds 72Bpts

Complimenting positive moves, equities trading on the floor of The Nigerian Stock Exchange ended the first trading day of the week in the green as the lead index NSEASI added 72Bpts to close at 26,507.84 from 26,319.34. All observed sub market indices in this report closed above their respective opening points. Thus, Week to Date, activities index is 72Bpts above opening while the total gained points in the month of September is now 466Bpts. See the index movement table for details.

The market had maintained an upside drive for the seventh consecutive trading days, and has pitched the 26,000 trading points, bringing the year to date return on NSEASI to a negative 2.25%. In our opinion, attraction to the market is cantered on the negative real returns in other key capital market investment windows. As observed in the the fix income instruments, activities dwindled daily, as smart money now scout for a more profitable platform presented by the stock market. Although this is the situation at the moment, we recommend that investors should be mindful of revaluation that may take place if the third quarter numbers come below expectations.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N98.510 billion, same as 72Bpts above the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 07 LAGERS. NSEASI Year to Date loss is now 125Bpts while the Market Capitalization Year to Date gain stood at N895.008 billion same as 691Bpts above the year’s opening value.

Total led the advancers’ log with 10.00% as it rounded up trade at N88.00 from N80.00. Champion Breweries followed with 9.88% gain, thus, closed at N0.89 from N0.81. Oando, AIICO and CHIPLC completed the top 5 price percentage gainers log with 9.85%, 9.72% and 8.82% respectively.

On the flip side UAC-Properties led with 10.00% loss that closed its price at N0.90 from N1.00. UPL followed on the log with 6.34% as it rounded up trade at N1.33 from N1.42. Caverton, May&Baker and Wema Bank Completed the top 5 price percentage losers’ log with 5.98%, 5.54% and 3.64% respectively.

Over the Counter Market Index and Capitalisation both ended in the green as they both gained 0.07% each, thereby closing at point 733.11 and N538.52 billion respectively. Today’s performance produced one (1) advancer and zero (0) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 42.25$/bbl, this is 79Bpts above the previous close price.

The I&E FX Window opened at N386.25 traded as high as N391.37 before rounding up at N386.00, having transacted a total of $85.43 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 as 25th September, 2020 closed at 4.00%, same as 7.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at 25th September, 2020 ended at 3.00% that is 7.33% 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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