FeaturedMarket Update

Nigerian Stock Market Takes off November on a Red Note, as Traders Opt for Profit Taking

Starting up the month of November, equities trading on the floor of The Nigerian Stock Exchange ended in the red, as the lead performance pointer, NSEASI gave up 17Bpts of its trading points and closed at 30,479.39 from 30,530.69. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, both the Week and Month to Date returns is 17Bpts from the opening point. See the index movement table for details.

The negative performance posted by the lead market index today is chiefly due to profit taking activities, induced by investors running off with the overnight profit realised from the gains in the last trading week of October. Please understand that, market added 639Bpts in the last week of October alone while it gained 1,376Bpts in October. This performance made the month the most active so far in the year 2020. We are of the opinion that the nine months financial statistics will lead other market fundamentals through the week and for the better part of November, 2020. We maintained that; traders should strictly play by the numbers.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N26.814 billion, same as 17Bpts below the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 26 LAGERS. NSEASI Year to Date gain is now 1,355Bpts while the Market Capitalization Year to Date gain stood at N2.972 trillion same as 2,294Bpts above the year’s opening value.

Leading the advancers’ log for the day is Livestock Feeds that gained 9.88% to close at N0.89 from N0.81. Dangote Sugar followed with 9.78% gain as it closed at N15.15 from N13.80. NPFMCRFBK, Regency Alliance and Royal Exchange completed the top 5 price percentage gainers’ log with 9.68%, 9.09% and 8.70% respectively.

On the flip side, C&ILeasing led with 10.00% loss, thus it rounded up today’s trade at N3.96 from N4.40. FCMB followed closely on the log with 9.90% that closed its price at N2.82 from N3.13. ETI, Oando and International Breweries completed the top five price percentage gainers list for the day with 8.85%, 6.55% and 5.02% loss respectively.

 

Over the Counter Market Index and Capitalisation ended in the red, thus, rounded up at 718.57 and N527.84 billion respectively. Today’s performance produced one (1) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 38.74$/bbl, this is 59Bpts below the previous close price.

The I&E FX Window opened at N386.25 traded as high as N393.49 before rounding up at N385.63, having transacted a total of $104.20 million through the day. Please note that, margin between the close and open value is 10Bpts 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 1.00%, same as 0.25% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.75% that is 0.25% 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 Takes off November on a Red Note, as Traders Opt for Profit Taking

Starting up the month of November, equities trading on the floor of The Nigerian Stock Exchange ended in the red, as the lead performance pointer, NSEASI gave up 17Bpts of its trading points and closed at 30,479.39 from 30,530.69. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, both the Week and Month to Date returns is 17Bpts from the opening point. See the index movement table for details.

The negative performance posted by the lead market index today is chiefly due to profit taking activities, induced by investors running off with the overnight profit realised from the gains in the last trading week of October. Please understand that, market added 639Bpts in the last week of October alone while it gained 1,376Bpts in October. This performance made the month the most active so far in the year 2020. We are of the opinion that the nine months financial statistics will lead other market fundamentals through the week and for the better part of November, 2020. We maintained that; traders should strictly play by the numbers.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N26.814 billion, same as 17Bpts below the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 26 LAGERS. NSEASI Year to Date gain is now 1,355Bpts while the Market Capitalization Year to Date gain stood at N2.972 trillion same as 2,294Bpts above the year’s opening value.

Leading the advancers’ log for the day is Livestock Feeds that gained 9.88% to close at N0.89 from N0.81. Dangote Sugar followed with 9.78% gain as it closed at N15.15 from N13.80. NPFMCRFBK, Regency Alliance and Royal Exchange completed the top 5 price percentage gainers’ log with 9.68%, 9.09% and 8.70% respectively.

On the flip side, C&ILeasing led with 10.00% loss, thus it rounded up today’s trade at N3.96 from N4.40. FCMB followed closely on the log with 9.90% that closed its price at N2.82 from N3.13. ETI, Oando and International Breweries completed the top five price percentage gainers list for the day with 8.85%, 6.55% and 5.02% loss respectively.

 

Over the Counter Market Index and Capitalisation ended in the red, thus, rounded up at 718.57 and N527.84 billion respectively. Today’s performance produced one (1) advancer and one (1) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 38.74$/bbl, this is 59Bpts below the previous close price.

The I&E FX Window opened at N386.25 traded as high as N393.49 before rounding up at N385.63, having transacted a total of $104.20 million through the day. Please note that, margin between the close and open value is 10Bpts 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 1.00%, same as 0.25% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 0.75% that is 0.25% 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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