FeaturedMarket Update

Nigerian Stock Market Starts February Red, as NSEASI Pauses Positive Runs

Starting off the new week, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 13Bpts of its trading points and closed at 42,357.90 from 42,412.66. Safe NSE-Insurance and NSE-OIL & GAS that gained, other observed market indices in this report closed below their respective opening points. Thus, Both Week to Date and Month to Date loss is now 13Bpts. See the index movement table for details.

Although the general market direction was down today, we are of the opinion that, positive sentiments will return shortly. A normal market is expected to pull back after a number of positive moves, this is because traders who have achieved some capital appreciation from the bullish moves will want to take profit. We maintained that, the ongoing release of interim financials by equities with December year end, will further dictates market trend through this week, and for the better part of the month of February, investors are therefore encouraged to play by the numbers; considering dividend stocks is also an intelligent investment strategy.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N28.647 billion, same as 13pts below the opening value. Meanwhile, trading activities for the day produced 35 ADVANCERS and 28 LAGERS. NSEASI Year to Date gain is now 518Bpts while the Market Capitalization Year to Date gain stood at N1.101 trillion same as 523Bpts above the year’s opening value.

Honeywell Flower led the advancers’ log with 10.00% gain as it closed the day’s trade at N1.43 from N1.30. Champion Breweries followed on the log with 9.97% gain, thus, it ended at N3.42 from N3.11. MCNICHOLS, Wapic and JaizBank completed the top 5 price percentage gainers’ log with 9.80%, 9.26% and 9.23% respectively.

On the flip side Royal Exchange led with 10.00% loss as it rounded up trade at N0.36 from N0.40. Guinea Insurance followed on the log with 9.09% to close at N0.20 from N0.22. African Insurance, Julius Berger and CHI PLC completed the top 5 price percentage losers’ log with 8.00%, 7.28% and 4.55% loss respectively.

Over the Counter Market Index and Capitalisation ended on a flat note, thus, each rounded up at 725.39 and N520.48 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 54.46$/bbl, this is 258Bpts above the previous close price. Please note that the CBN spot reference price as at close of business on 27th January is 55.80$/bbl.

The I&E FX Window opened at N393.31 traded as high as N396.00 before rounding up at N394.00, having transacted a total of $28.85 million through the day. Please note that, margin between the close and open value is 3pts 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 10.25%, same as 0.75% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 10.00% that is 0.50% below the previous close. Safe Trade.

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FeaturedMarket Update

Nigerian Stock Market Starts February Red, as NSEASI Pauses Positive Runs

Starting off the new week, equities trading on the floor of The Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 13Bpts of its trading points and closed at 42,357.90 from 42,412.66. Safe NSE-Insurance and NSE-OIL & GAS that gained, other observed market indices in this report closed below their respective opening points. Thus, Both Week to Date and Month to Date loss is now 13Bpts. See the index movement table for details.

Although the general market direction was down today, we are of the opinion that, positive sentiments will return shortly. A normal market is expected to pull back after a number of positive moves, this is because traders who have achieved some capital appreciation from the bullish moves will want to take profit. We maintained that, the ongoing release of interim financials by equities with December year end, will further dictates market trend through this week, and for the better part of the month of February, investors are therefore encouraged to play by the numbers; considering dividend stocks is also an intelligent investment strategy.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N28.647 billion, same as 13pts below the opening value. Meanwhile, trading activities for the day produced 35 ADVANCERS and 28 LAGERS. NSEASI Year to Date gain is now 518Bpts while the Market Capitalization Year to Date gain stood at N1.101 trillion same as 523Bpts above the year’s opening value.

Honeywell Flower led the advancers’ log with 10.00% gain as it closed the day’s trade at N1.43 from N1.30. Champion Breweries followed on the log with 9.97% gain, thus, it ended at N3.42 from N3.11. MCNICHOLS, Wapic and JaizBank completed the top 5 price percentage gainers’ log with 9.80%, 9.26% and 9.23% respectively.

On the flip side Royal Exchange led with 10.00% loss as it rounded up trade at N0.36 from N0.40. Guinea Insurance followed on the log with 9.09% to close at N0.20 from N0.22. African Insurance, Julius Berger and CHI PLC completed the top 5 price percentage losers’ log with 8.00%, 7.28% and 4.55% loss respectively.

Over the Counter Market Index and Capitalisation ended on a flat note, thus, each rounded up at 725.39 and N520.48 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 54.46$/bbl, this is 258Bpts above the previous close price. Please note that the CBN spot reference price as at close of business on 27th January is 55.80$/bbl.

The I&E FX Window opened at N393.31 traded as high as N396.00 before rounding up at N394.00, having transacted a total of $28.85 million through the day. Please note that, margin between the close and open value is 3pts 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 10.25%, same as 0.75% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 10.00% that is 0.50% below the previous close. Safe Trade.

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