FeaturedMarket Update

Nigerian Stock Market Rounded Up April in the Green Despite Pandemic

Rounding up the month of April, equities trading on the floor of the Nigerian Stock Exchange rounded up in the green territory. As the lead performance index-NSEASI added 67Bpts and closed at 23,021.01 from 22,868.40. It was a mixed performance amongst the observed market indices in this report as shown in the index movement table. Thus, Week to Date, lead index is 187Bpts above opening while the total gained points in the month of April adjusted to 808Bpts. See the index movement table for details.

The month of April is characterised by various unfavourable fundamental events, bad enough to end the stock market in the red; surprisingly, April turned out the second green months in 2020. Leading fundamental events in the month includes; Covid-19 pandemic, Oil Price crash, increasing inflation number, partial lock down of the economy, amongst other developing issues, strong enough to dent investors’ confidence. In our opinion, the various economic palliatives introduced by the government, some of which were kick-started by the central bank of Nigeria, go a long way in rebranding investors’ confidence around the equities market. Another boosting factor is the several dividend announcements from listed equities, though performances were averagely low. Nevertheless, since the first quarter earnings season is winding up, we foresee a mixed performance in the new month; this is because response to economic developments will be sharp in absence of earnings influx.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N79.529 billion, same as 67Bpts above the opening value. Meanwhile, trading activities for the day produced 21 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,424Bpts while the Market Capitalization Year to Date loss stood at N960.912 billion same as 742Bpts below the year’s opening value.

Ardova led the advancers’ log with 10.00% gain, as it rounded up trade at N11.55 from N10.50. University Press followed on the log with 9.28% gain, thus, it closed at N1.06 from N0.97. Livestock Feeds, Caverton and UnionDac followed with 7.69%, 7.39% and 6.90% respectively.

Meanwhile, Prestige led the decliners’ log with 9.09% loss as it rounded up trade at N0.50 from N0.55, Couttville followed on the log with 4.55% loss to close at N0.21 from N0.22. Nigerian Breweries, Zenith Bank and UCAP completed the top 5 price percentage losers log with 3.38%, 2.72% and 2.09% loss respectively.

As at the time this report was gathered, Brent Crude sells at 18.96$/bbl, this is 1.484Bpts above the previous close price.

The I&E FX Window opened at N385.00 traded as high as N390.00 before rounding up at N387.30, having transacted a total of $83.41 million through the day. Please note that, margin between the close and open value is 0.22Bpts 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 2.75%, same as 0.65% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.25% that is 0.45% 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 Rounded Up April in the Green Despite Pandemic

Rounding up the month of April, equities trading on the floor of the Nigerian Stock Exchange rounded up in the green territory. As the lead performance index-NSEASI added 67Bpts and closed at 23,021.01 from 22,868.40. It was a mixed performance amongst the observed market indices in this report as shown in the index movement table. Thus, Week to Date, lead index is 187Bpts above opening while the total gained points in the month of April adjusted to 808Bpts. See the index movement table for details.

The month of April is characterised by various unfavourable fundamental events, bad enough to end the stock market in the red; surprisingly, April turned out the second green months in 2020. Leading fundamental events in the month includes; Covid-19 pandemic, Oil Price crash, increasing inflation number, partial lock down of the economy, amongst other developing issues, strong enough to dent investors’ confidence. In our opinion, the various economic palliatives introduced by the government, some of which were kick-started by the central bank of Nigeria, go a long way in rebranding investors’ confidence around the equities market. Another boosting factor is the several dividend announcements from listed equities, though performances were averagely low. Nevertheless, since the first quarter earnings season is winding up, we foresee a mixed performance in the new month; this is because response to economic developments will be sharp in absence of earnings influx.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N79.529 billion, same as 67Bpts above the opening value. Meanwhile, trading activities for the day produced 21 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 1,424Bpts while the Market Capitalization Year to Date loss stood at N960.912 billion same as 742Bpts below the year’s opening value.

Ardova led the advancers’ log with 10.00% gain, as it rounded up trade at N11.55 from N10.50. University Press followed on the log with 9.28% gain, thus, it closed at N1.06 from N0.97. Livestock Feeds, Caverton and UnionDac followed with 7.69%, 7.39% and 6.90% respectively.

Meanwhile, Prestige led the decliners’ log with 9.09% loss as it rounded up trade at N0.50 from N0.55, Couttville followed on the log with 4.55% loss to close at N0.21 from N0.22. Nigerian Breweries, Zenith Bank and UCAP completed the top 5 price percentage losers log with 3.38%, 2.72% and 2.09% loss respectively.

As at the time this report was gathered, Brent Crude sells at 18.96$/bbl, this is 1.484Bpts above the previous close price.

The I&E FX Window opened at N385.00 traded as high as N390.00 before rounding up at N387.30, having transacted a total of $83.41 million through the day. Please note that, margin between the close and open value is 0.22Bpts 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 2.75%, same as 0.65% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.25% that is 0.45% 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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