Slowing down positive moves, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added marginal 3Bpt to its trading points, and closed at 38,927.83 from 38,917.99. It was a mixed performance amongst the observed market indices, as shown in the index movement table. Thus, WtD, the lead index is 99Bpts above opening, while the total gained points in the month of August is now 99Bpts. See the index movement table for details.
FUNDAMENTAL VIEW
The three days positive moves seem to have hit a hard rock, as NGXASI suddenly slowed gaining pace; this is coming after it broke a major resistance and pronounced a new trend. Kindly understand that, most listed equities with December financial year had unveiled their numbers, except the financial institutions with interim dividend policy, and very few others. Meanwhile, by history, earnings from such banks usually hit the market from the first and second month of September. Also, the two major economic numbers expected within the month of August are expected in the third and fourth week. Recall that we mentioned in our previous reports that, July Headline Inflation release date is 16th August, while the Half year GDP figures will be release on the 26th August. On the strength of these, we recommend heightened cautiousness around the market arena, since trading information will be scarce for the better part of this week and next.
Technical View
The most applauded achievement made by the market lead index (NGXASI) yesterday is currently being threatened, as it seems to have been rejected from climbing the next height. This is not very good for the recovering moves, as it may imply that, it had finally recognized the resistance it just cracked. Nevertheless, since the gainers log improved during today’s trading activities, we raise hope of another bullish move in the next trading day; please understand that, we are not saying conclusively that this will be the situation tomorrow.
Money Flow Index (MFI) is currently in a buy, as the indicator turned up and is now trading at 64.15point. This is a positive signal. Please note that no divergence had been noticed in recent time. Similarly, RSI Crossover is a buy, as the signal line already crossed RSI15 from the bottom. MACD on the other hand is in the bullish region and MACD had since crossed its signal line from the bottom, this is also a positive signal.
Index Movements
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N5.128 billion, same as 3Bpts above the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 19 LAGERS. NGXASI Year to Date loss is now 333Bpts while the Market Capitalization Year to Date loss stood at N774.791 million same as 368Bpts below the year’s opening value.
Gainers & Losers
Leading on the advancers’ log is Cutix with 10.00% gain over its previous close price, thus it rounded up at N5.50 from N5.00. Veritaskap followed with 8.70% gain, to round up trade at N0.25 from N0.23. Tripple Gee, Presco and Nahco completed the top 5 price percentage gainers log with 7.78%, 3.71% and 2.44% respectively.
On the flip side Sovereign Insurance led with 7.14% price depreciation as it rounded up trade at N0.26 from N0.28. Regency Alliance followed closely with 6.67% loss, thus it closed at N0.42 from N0.45. Unity Bank, Jaiz Bank and Caverton completed the top 5 price percentage losers’ log with 5.00%, 4.84% and 4.26% respectively.
Top Performers
Top 5 Trades
Investors did a total of 226 deals on the shares of GTCO, while a total of 192 transactions were made on Zenith Bank shares through today’s trading session. UBA was next on the top 5 list with 155 transactions, while Access Bank and Oando completed the top five (5) trades for the day, as shown in the below table.
Top 5 Performance by Volume
Traders traded 51.82 million units of Sterling Bank through the day’s trade. Transcorp followed on the most traded by volume with 19.24 million shares. UBA, Wema Bank, and AIICO completed the top 5 most traded shares for the day.
Top Performance by Value
The Value of the shares traded on UBA (N129.78 million) was the highest for the day, followed by Seplat where investors exchange N100.32 million worth of shares. GTCO, Sterling Bank, and Nestle Foods completed the list as shown in the above table.
NASD-OTC BRIEF
Over the Counter (OTC) Market Index ended in the green by gaining 0.58% to close the day’s trade at 753.10, while the market Capitalisation equally rounded up in the positive territory as it gained 0.58% and close at 654.57 billion. Today’s performance produced one (1) advancer, and four (4) decliners. Kindly view today’s price list Here.
CRUDE OIL PRICE MOVEMENT
As at the time this report was gathered, Brent Crude sells at 70.16$/bbl, this is 311Bpts below the last close price.
FMDQ-OTC BRIEF
The I&E FX Window opened at N411.34 traded as high as N413.00 before rounding up at N411.50, having transacted a total of $126.92 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 9.00%, same as 1.00% above the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 8.50% that is 1.00% above the previous close. Safe Trade.
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