FeaturedMarket Update

NSEASI Records Marginal Gain Despite Dull Trading Mood-22/11/18

Equities trading on the floor of The Nigerian Stock Exchange today achieved a marginal gain as the lead performance pointer- NSEASI added 5Bpts and closed at 31,984.60 from 31,969.79. Safe NSE-Oil&Gas that gave up marginal points, all other observed market indices gained. Week to Date, lead activities index is down by 23Bpts while total lost points within the month of November is now 148Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N5.409 billion, same as 5Bpts above the opening value.  Meanwhile, trading activities for the day produced 16 advancers and 13 lagers. NSEASI Year to Date loss is now 16.37% while the Market Capitalization Year to Date loss stood at N1.938 trillion same as 14.20% below the year’s opening value.

Although the market recorded a mild gain, market mood remained dull and very weak. Going by the consistence bearish moves, it is evident that confidence is generally down in the equities market. Safe the fact that equities now get cheaper and attractive for long term positions, buyers’ tradable news are currently scarce; in fact, several released nine months financial statistics are below expectations. Notably is the shrink nature of the performance logs (gainers & losers log), this is another evidence that shows low appetite around the market arena. We therefore recommend a cautious tread around the market arena; we are of the opinion that, risk around long positions are minimal at the moment.

As at the time we compiled this report, Brent Crude trades at $61.98/bbl having loss 0.62% from the last close price.

At the interbank rate today, the Naira closed unchanged at N306.75 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.97 traded as high as N365.00 before rounding up at N364.10, having transacted a total of $348.02 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 6.08%, same as 4.58% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.17%, that is, 4.50% 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 Records Marginal Gain Despite Dull Trading Mood-22/11/18

Equities trading on the floor of The Nigerian Stock Exchange today achieved a marginal gain as the lead performance pointer- NSEASI added 5Bpts and closed at 31,984.60 from 31,969.79. Safe NSE-Oil&Gas that gave up marginal points, all other observed market indices gained. Week to Date, lead activities index is down by 23Bpts while total lost points within the month of November is now 148Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N5.409 billion, same as 5Bpts above the opening value.  Meanwhile, trading activities for the day produced 16 advancers and 13 lagers. NSEASI Year to Date loss is now 16.37% while the Market Capitalization Year to Date loss stood at N1.938 trillion same as 14.20% below the year’s opening value.

Although the market recorded a mild gain, market mood remained dull and very weak. Going by the consistence bearish moves, it is evident that confidence is generally down in the equities market. Safe the fact that equities now get cheaper and attractive for long term positions, buyers’ tradable news are currently scarce; in fact, several released nine months financial statistics are below expectations. Notably is the shrink nature of the performance logs (gainers & losers log), this is another evidence that shows low appetite around the market arena. We therefore recommend a cautious tread around the market arena; we are of the opinion that, risk around long positions are minimal at the moment.

As at the time we compiled this report, Brent Crude trades at $61.98/bbl having loss 0.62% from the last close price.

At the interbank rate today, the Naira closed unchanged at N306.75 against the USDollar.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.97 traded as high as N365.00 before rounding up at N364.10, having transacted a total of $348.02 million through the day. Please note that, margin between the close and open value is an equivalent of 4Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.

In the money market, the Overnight (O/N) rate closed at 6.08%, same as 4.58% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.17%, that is, 4.50% 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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