FeaturedMarket Update

NSEASI Loses 127Bpts as Traders Opt for Profit Taking

Finally yielding the profit takers’ call, equities trading on the floor of the Nigerian Stock Exchange rounded up in the negative territory. As the lead index-NSEASI gave up 127Bpts and closed at 22,629.92 from 22,920.41. All observed market indices in this report closed below their respective opening points as shown in the index movement table. Thus, Week to Date, lead index is 127Bpts below opening while the total gained points in the month of April adjusted to 624Bpts. See the index movement table for details.

Undoubtedly, traders are already taking profit over the few gains recorded by the market. In our opinion, this is typical of a recovering market and should not result to panic in any way; rather, traders who missed out in the recovery moves are expected to take advantage of the pullback and join the market accordingly. We are of the opinion that, market may be enjoying some fund inflows, as traders take positions against the expected boom at the end of COVID-19 pandemic. Although we proposed a cautious play around the market, we reiterate that panicking off the market is not an intelligent investment option at the moment.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N151.392 million, same as 127Bpts below the opening value. Meanwhile, trading activities for the day produced 4 ADVANCERS and 27 LAGERS. NSEASI Year to Date loss is now 1,569Bpts while the Market Capitalization Year to Date loss stood at N1.164 trillion same as 899Bpts below the year’s opening value.

Only four equities emerged on the gainers log at the end of today’s trading activities. Omoluwabi Bank led with 9.09% gain followed by NPF-Micro Finance Bank with 8.70%. Lasaco and Learn Africa completed the list with 4.17% and 2.11% respectively.

Losers’ log on the other hand was led by Oando and Champion Breweries with 10.00% loss. They both closed at N2.25 and N0.81 from N2.50 and N0.90 respectively. Wapco, Fidelity Bank and Chams completed the top 5 price percentage losers’ list with 9.21%, 8.99% and 8.70% respectively.

As at the time this report was gathered, Brent Crude sells at 20.88$/bbl, this is 645Bpts below the previous close price.

The I&E FX Window opened at N385.71 traded as high as N385.00 before rounding up at N385.00, having transacted a total of $30.51 million through the day. Please note that, margin between the close and open value is 21Bpts 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 2.63%, same as 0.08% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.00% that is 0.00% 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

NSEASI Loses 127Bpts as Traders Opt for Profit Taking

Finally yielding the profit takers’ call, equities trading on the floor of the Nigerian Stock Exchange rounded up in the negative territory. As the lead index-NSEASI gave up 127Bpts and closed at 22,629.92 from 22,920.41. All observed market indices in this report closed below their respective opening points as shown in the index movement table. Thus, Week to Date, lead index is 127Bpts below opening while the total gained points in the month of April adjusted to 624Bpts. See the index movement table for details.

Undoubtedly, traders are already taking profit over the few gains recorded by the market. In our opinion, this is typical of a recovering market and should not result to panic in any way; rather, traders who missed out in the recovery moves are expected to take advantage of the pullback and join the market accordingly. We are of the opinion that, market may be enjoying some fund inflows, as traders take positions against the expected boom at the end of COVID-19 pandemic. Although we proposed a cautious play around the market, we reiterate that panicking off the market is not an intelligent investment option at the moment.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N151.392 million, same as 127Bpts below the opening value. Meanwhile, trading activities for the day produced 4 ADVANCERS and 27 LAGERS. NSEASI Year to Date loss is now 1,569Bpts while the Market Capitalization Year to Date loss stood at N1.164 trillion same as 899Bpts below the year’s opening value.

Only four equities emerged on the gainers log at the end of today’s trading activities. Omoluwabi Bank led with 9.09% gain followed by NPF-Micro Finance Bank with 8.70%. Lasaco and Learn Africa completed the list with 4.17% and 2.11% respectively.

Losers’ log on the other hand was led by Oando and Champion Breweries with 10.00% loss. They both closed at N2.25 and N0.81 from N2.50 and N0.90 respectively. Wapco, Fidelity Bank and Chams completed the top 5 price percentage losers’ list with 9.21%, 8.99% and 8.70% respectively.

As at the time this report was gathered, Brent Crude sells at 20.88$/bbl, this is 645Bpts below the previous close price.

The I&E FX Window opened at N385.71 traded as high as N385.00 before rounding up at N385.00, having transacted a total of $30.51 million through the day. Please note that, margin between the close and open value is 21Bpts 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 2.63%, same as 0.08% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.00% that is 0.00% 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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