FeaturedMarket Update

NSEASI Powers Higher on Low Price, Dividend Positions & Improved Confidence

Starting up the new week after the Easter holiday, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 232Bpts and closed at 21,879.95 from 20,384.03. Safe NSE-Insurance and NSE-Industrial Goods that shed points, other observed market indices in this report gained. Thus, Week to Date, lead index is 232Bpts above opening while the total gained points in the month of April is now 272Bpts. See the index movement table for details.

Although the market had recorded the fourth consecutive positive day, one cannot confidently claim the end of the bearish session. Please understand that, after today’s gain, almost all technical indicators, especially the Relative Strength Index are signalling buy signals. We are of the opinion that treading carefully around the market arena, while playing by full year incentives, attractive equities prices, and expected first quarter earnings, remain an intelligent investment decision. Despite our cautious recommendation, we are of the opinion that traders confidence is currently riding on the wings of several palliative measures, targeted towards controlling the damaging effect of COVIDD-19.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N258.451 billion, same as 232Bpts above the opening value. Meanwhile, trading activities for the day produced 29 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 1,849Bpts while the Market Capitalization Year to Date loss stood at N1.555 trillion same as 1,200Bpts below the year’s opening value.

The advancers’ log was led by Oando with 10.00% gain, as it closed at N2.64 from N2.40. Nigerian Breweries followed with 9.91% to close at N24.40 from N22.20. Conoil, Stanbic Ibtc and Chams completed the top 5 price percentage gainers’ list with 9.89%, 9.62% and 9.52% respectively.

On the other hand, Pz-Cussons led the decliners’ log with 9.09% loss to close at N4.00 from N4.40. Redstar Express followed on the list with 5.86% loss as it closed at N2.73 from N2.90. Lasaco, Transcorp and Neimeth completed the top 5 price percentage losers list with 4.35%, 4.29% and 3.85% respectively.

As at the time this report was gathered, Brent Crude sells at 30.02$/bbl, this is 142Bpts above the previous close price.

The I&E FX Window opened at N387.60 traded as high as N401.57 before rounding up at N386.63, having transacted a total of $30.42 million through the day. Please note that, margin between the close and open value is 47Bpts 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 2.83%, same as 14.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.33% that is 12.67% 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 Powers Higher on Low Price, Dividend Positions & Improved Confidence

Starting up the new week after the Easter holiday, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 232Bpts and closed at 21,879.95 from 20,384.03. Safe NSE-Insurance and NSE-Industrial Goods that shed points, other observed market indices in this report gained. Thus, Week to Date, lead index is 232Bpts above opening while the total gained points in the month of April is now 272Bpts. See the index movement table for details.

Although the market had recorded the fourth consecutive positive day, one cannot confidently claim the end of the bearish session. Please understand that, after today’s gain, almost all technical indicators, especially the Relative Strength Index are signalling buy signals. We are of the opinion that treading carefully around the market arena, while playing by full year incentives, attractive equities prices, and expected first quarter earnings, remain an intelligent investment decision. Despite our cautious recommendation, we are of the opinion that traders confidence is currently riding on the wings of several palliative measures, targeted towards controlling the damaging effect of COVIDD-19.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N258.451 billion, same as 232Bpts above the opening value. Meanwhile, trading activities for the day produced 29 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 1,849Bpts while the Market Capitalization Year to Date loss stood at N1.555 trillion same as 1,200Bpts below the year’s opening value.

The advancers’ log was led by Oando with 10.00% gain, as it closed at N2.64 from N2.40. Nigerian Breweries followed with 9.91% to close at N24.40 from N22.20. Conoil, Stanbic Ibtc and Chams completed the top 5 price percentage gainers’ list with 9.89%, 9.62% and 9.52% respectively.

On the other hand, Pz-Cussons led the decliners’ log with 9.09% loss to close at N4.00 from N4.40. Redstar Express followed on the list with 5.86% loss as it closed at N2.73 from N2.90. Lasaco, Transcorp and Neimeth completed the top 5 price percentage losers list with 4.35%, 4.29% and 3.85% respectively.

As at the time this report was gathered, Brent Crude sells at 30.02$/bbl, this is 142Bpts above the previous close price.

The I&E FX Window opened at N387.60 traded as high as N401.57 before rounding up at N386.63, having transacted a total of $30.42 million through the day. Please note that, margin between the close and open value is 47Bpts 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 2.83%, same as 14.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 2.33% that is 12.67% 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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