FeaturedMarket Update

Profit Taking Extends to Day 2 as NSEASI Gives Up 35Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the lead performance pointer NSEASI gave up 35Bpts and closed at 26,790.10 from 26,883.33. Safe NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead activities index is 75Bpts below opening while the total gained points in the month of November reduced to 165BPts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N4.993 billion, same as 35Bpts below the opening value.  Meanwhile, trading activities for the day produced 19 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 1,476Bpts while the Market Capitalization Year to Date gain stood at N1.209 trillion same as 1,032Bpts above the year’s opening value.

Leading on the advancers’ log are Ag-Leventis and Livestock Feeds with 10.00% gain each, as they closed at N0.33 and N0.55 from N0.30 and N0.50 respectively. Neimeth followed on the log with 8.96% gain as it closed at N0.73 from N0.67. Wapic and Cutix completed the log with 8.57% and 8.27% gain respectively.

CHI PLC led the decliners’ log with 10.00% loss, as it rounded up trade at N0.36 from N0.40. GlaxoSmith followed with 9.52% loss thereby closing at N5.70 from N6.30. Oando, Union Dignostic and Cadbury completed the log with 9.09%, 8.33% and 8.16% respectively.

After five (5) consecutive days of recovery moves, profit taking extended to the second trading day. Please note that technically, the lead indicator’s long term trend is a down trend and trading momentum is generally low. In our opinion, aside playing dividend stocks for incentives, traders may now consider low priced equities for very short term profits.

As at the time this report was gathered, Brent Crude sells at 64.06$/bbl, this is 24Bpts below the previous close price.

The I&E FX Window opened at N362.30 traded as high as N363.40 before rounding up at N362.64, having transacted a total of $109.41 million through the day. Please note that, margin between the close and open value is 1Bpts gain. 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 4.21%, same as 0.29% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.57%, that is, 0.29% 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

Profit Taking Extends to Day 2 as NSEASI Gives Up 35Bpts

Equities trading on the floor of The Nigerian Stock Exchange rounded up in the negative territory as the lead performance pointer NSEASI gave up 35Bpts and closed at 26,790.10 from 26,883.33. Safe NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead activities index is 75Bpts below opening while the total gained points in the month of November reduced to 165BPts. See the index movement table for details.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N4.993 billion, same as 35Bpts below the opening value.  Meanwhile, trading activities for the day produced 19 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 1,476Bpts while the Market Capitalization Year to Date gain stood at N1.209 trillion same as 1,032Bpts above the year’s opening value.

Leading on the advancers’ log are Ag-Leventis and Livestock Feeds with 10.00% gain each, as they closed at N0.33 and N0.55 from N0.30 and N0.50 respectively. Neimeth followed on the log with 8.96% gain as it closed at N0.73 from N0.67. Wapic and Cutix completed the log with 8.57% and 8.27% gain respectively.

CHI PLC led the decliners’ log with 10.00% loss, as it rounded up trade at N0.36 from N0.40. GlaxoSmith followed with 9.52% loss thereby closing at N5.70 from N6.30. Oando, Union Dignostic and Cadbury completed the log with 9.09%, 8.33% and 8.16% respectively.

After five (5) consecutive days of recovery moves, profit taking extended to the second trading day. Please note that technically, the lead indicator’s long term trend is a down trend and trading momentum is generally low. In our opinion, aside playing dividend stocks for incentives, traders may now consider low priced equities for very short term profits.

As at the time this report was gathered, Brent Crude sells at 64.06$/bbl, this is 24Bpts below the previous close price.

The I&E FX Window opened at N362.30 traded as high as N363.40 before rounding up at N362.64, having transacted a total of $109.41 million through the day. Please note that, margin between the close and open value is 1Bpts gain. 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 4.21%, same as 0.29% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.57%, that is, 0.29% 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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