FeaturedMarket Update

Positive Sentiments Continues as NGXASI Adds 54Bpts-Our Expectations

Taking another positive move, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 54pts to its trading points and closed at 38,418.04 from 38,220.01. Safe NGX-INSURNACE that shed points, other observed market indices in this report gained. Thus, WtD, the lead index is 54Bpts above the opening point, while the total gained points in the month of July is now 135Bpts. See the index movement table for details.

At the end of today’s trading activities, the lead index had recorded five (5) consecutive positive days in six trading days, it closed flat four trading days prior. The positive sentiments have been backed up with good numbers of listed equities joining the advancers’ log. As noted above the few trading days observed so far in the month of July gave more support to the bullish investors, note that, we expect profit taking activities anytime within the week. Also understand that, leading investment basis within the month of July is the expectation of half year earnings from listed equities operating December financial year and full year from April accounts. It is also necessary to note that, the National Bureau of Statistics will be releasing the June Headline Inflation figure on the 15th July, 2021. The price of Crude Oil trades around 74.21$/bbl, at least as at the time this report was compiled. In our opinion, the effect of economic numbers on market performance will be minimal, both in July and August, since it will be the pick of earnings season.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N103.226 billion, same as 52Bpts above the opening value. Meanwhile, trading activities for the day produced 28 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 460Bpts while the Market Capitalization Year to Date loss stood at N1.030 trillion same as 489Bpts below the year’s opening value.

Leading on the advancers’ log is May&Baker with 9.65% gain above its previous close point, thus it rounded up at N4.43 from N4.04. UAC-Properties followed with 9.57% gain to round up trade at N1.03 from N0.94. Total Oil, CHIPLC and UPL completed the top 5 price percentage gainers log with 9.24%, 9.23% and 9.21% respectively.

On the flip side, Eterna Oil led with 9.73% loss, as it rounded up trade at N6.77 from N7.50. Linkage Assurance followed closely with 9.41% loss to close at N0.77 from N0.85. Unity Bank, Wapic and Jaiz Bank completed the top 5 price percentage losers’ log with 8.06%, 5.08% and 1.72% respectively.

Over the Counter (OTC) Market Index and closed in the green by respectively adding 0.14% and 0.15%, and rounding up at 755.29 and N536.87 billion. Today’s performance produced two (2) advancers, and two (2) decliners. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 74.21$/bbl, this is 43Bpts below the last close price.

The I&E FX Window opened at N411.50 traded as high as N420.86 before rounding up at N411.45, having transacted a total of $110.67 million through the day. Please note that, margin between the close and open value is 8Bpts 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 10.25%, same as 0.50% beloww the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 9.75% that is 0.50% below the previous close. Safe Trade.

 

 

By: Jeariogbe Tunde Segun

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FeaturedMarket Update

Positive Sentiments Continues as NGXASI Adds 54Bpts-Our Expectations

Taking another positive move, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 54pts to its trading points and closed at 38,418.04 from 38,220.01. Safe NGX-INSURNACE that shed points, other observed market indices in this report gained. Thus, WtD, the lead index is 54Bpts above the opening point, while the total gained points in the month of July is now 135Bpts. See the index movement table for details.

At the end of today’s trading activities, the lead index had recorded five (5) consecutive positive days in six trading days, it closed flat four trading days prior. The positive sentiments have been backed up with good numbers of listed equities joining the advancers’ log. As noted above the few trading days observed so far in the month of July gave more support to the bullish investors, note that, we expect profit taking activities anytime within the week. Also understand that, leading investment basis within the month of July is the expectation of half year earnings from listed equities operating December financial year and full year from April accounts. It is also necessary to note that, the National Bureau of Statistics will be releasing the June Headline Inflation figure on the 15th July, 2021. The price of Crude Oil trades around 74.21$/bbl, at least as at the time this report was compiled. In our opinion, the effect of economic numbers on market performance will be minimal, both in July and August, since it will be the pick of earnings season.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N103.226 billion, same as 52Bpts above the opening value. Meanwhile, trading activities for the day produced 28 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 460Bpts while the Market Capitalization Year to Date loss stood at N1.030 trillion same as 489Bpts below the year’s opening value.

Leading on the advancers’ log is May&Baker with 9.65% gain above its previous close point, thus it rounded up at N4.43 from N4.04. UAC-Properties followed with 9.57% gain to round up trade at N1.03 from N0.94. Total Oil, CHIPLC and UPL completed the top 5 price percentage gainers log with 9.24%, 9.23% and 9.21% respectively.

On the flip side, Eterna Oil led with 9.73% loss, as it rounded up trade at N6.77 from N7.50. Linkage Assurance followed closely with 9.41% loss to close at N0.77 from N0.85. Unity Bank, Wapic and Jaiz Bank completed the top 5 price percentage losers’ log with 8.06%, 5.08% and 1.72% respectively.

Over the Counter (OTC) Market Index and closed in the green by respectively adding 0.14% and 0.15%, and rounding up at 755.29 and N536.87 billion. Today’s performance produced two (2) advancers, and two (2) decliners. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 74.21$/bbl, this is 43Bpts below the last close price.

The I&E FX Window opened at N411.50 traded as high as N420.86 before rounding up at N411.45, having transacted a total of $110.67 million through the day. Please note that, margin between the close and open value is 8Bpts 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 10.25%, same as 0.50% beloww the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 9.75% that is 0.50% below the previous close. Safe Trade.

 

 

By: Jeariogbe Tunde Segun

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.