FeaturedMarket Update

NSEASI Recovers April Lost Points, Adds 147Bpts

Recovering all lost points in the month of April, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 147Bpts and closed at 21,384.03 from 20,073.26. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, lead index is 137Bpts above opening while the total gained points in the month of April is now 39Bpts. See the index movement table for details.

Although the market had recorded the third consecutive positive day, one cannot confidently claim the end of the bearish session. Please understand that, after today’s gain, few technical indicators, especially the Relative Strength Index are revealing bullish signals. We are of the opinion that treading carefully around the market arena, while playing by both full year incentives 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 N161.958 billion, same as 147Bpts above the opening value. Meanwhile, trading activities for the day produced 24 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 2,033Bpts while the Market Capitalization Year to Date loss stood at N1.814 trillion same as 1,400Bpts below the year’s opening value.

The advancers’ log was led by Dangote Sugar with 9.74% gain, as it closed at N10.70 from N9.75. UBA followed with 9.73% to close at N6.20 from N5.65. Cadbury and Lasaco gained 9.52% each, while Sterling Bank completed the top 5 price percentage gainers’ list with 9.45%.

On the other hand, Omatek led the decliners’ log with 8.82% loss to close at N0.31 from N0.34. Chams and Unity bank followed on the list with 8.70% loss each as they respectively rounded up trade at N0.21 and N0.42 from N0.23 and N0.46. Jaiz Bank and SKYAVN completed the top 5 losers list with 7.84% and 7.41% respectively.

As at the time this report was gathered, Brent Crude sells at 31.48$/bbl, this is 414Bpts below the previous close price.

The I&E FX Window opened at N387.04 traded as high as N401.57 before rounding up at N384.83, having transacted a total of $146.91 million through the day. Please note that, margin between the close and open value is 0Bpts 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 16.83%, same as 13.67% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00% that is 12.17% above 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 Recovers April Lost Points, Adds 147Bpts

Recovering all lost points in the month of April, equities trading on the floor of The Nigerian Stock Exchange rounded up in the positive territory, as the lead performance pointer, NSEASI added 147Bpts and closed at 21,384.03 from 20,073.26. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, lead index is 137Bpts above opening while the total gained points in the month of April is now 39Bpts. See the index movement table for details.

Although the market had recorded the third consecutive positive day, one cannot confidently claim the end of the bearish session. Please understand that, after today’s gain, few technical indicators, especially the Relative Strength Index are revealing bullish signals. We are of the opinion that treading carefully around the market arena, while playing by both full year incentives 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 N161.958 billion, same as 147Bpts above the opening value. Meanwhile, trading activities for the day produced 24 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 2,033Bpts while the Market Capitalization Year to Date loss stood at N1.814 trillion same as 1,400Bpts below the year’s opening value.

The advancers’ log was led by Dangote Sugar with 9.74% gain, as it closed at N10.70 from N9.75. UBA followed with 9.73% to close at N6.20 from N5.65. Cadbury and Lasaco gained 9.52% each, while Sterling Bank completed the top 5 price percentage gainers’ list with 9.45%.

On the other hand, Omatek led the decliners’ log with 8.82% loss to close at N0.31 from N0.34. Chams and Unity bank followed on the list with 8.70% loss each as they respectively rounded up trade at N0.21 and N0.42 from N0.23 and N0.46. Jaiz Bank and SKYAVN completed the top 5 losers list with 7.84% and 7.41% respectively.

As at the time this report was gathered, Brent Crude sells at 31.48$/bbl, this is 414Bpts below the previous close price.

The I&E FX Window opened at N387.04 traded as high as N401.57 before rounding up at N384.83, having transacted a total of $146.91 million through the day. Please note that, margin between the close and open value is 0Bpts 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 16.83%, same as 13.67% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 15.00% that is 12.17% above 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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