FeaturedMarket Update

Red Start: The Bear Kicks off H1-2020, Despite Rough First Quarter

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the month in the negative territory, as the lead performance pointer NSEASI gave up 94Bpts, and closed at 21,100.54 from 21,300.47. Safe NSE-Oil&Gas and NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead index is 348Bpts below opening while the total lost points in the month of April is now 94Bpts. See the index movement table for details.

Undoubtedly, the market still suffers under the burden of unfavourable effect of COVID-19, as investors continue to play safe, despite the very attractive equities prices. The truth is that, many funds are currently trapped by the bear, while few traders with trading capital are currently taking advantage of the induced drops in the prices of listed equities. Most intelligent investment decision is to avoid panic selling at the moment.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N104.193 billion, same as 94Bpts below the opening value. Meanwhile, trading activities for the day produced 06 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 2,139Bpts while the Market Capitalization Year to Date loss stood at N1.961 trillion same as 1,514Bpts below the year’s opening value.

Leading on the advancers’ log is MTNN with 9.33% price gain that closed its price at N98.40 from N90.00. International Breweries followed closely with 9.18%, thus it closed at N5.35 from N4.90. Livestock Feeds, Cadbury and NAHCO completed the top 5 price percentage gainer’s log with 8.47%, 4.41% and 4.00% respectively.

Unilever led the decliners’ log with 10.00% as it rounded up trade at N9.90 from N11.00. Dangote Cement followed with 9.95%, closing at N116.80 from N129.70. Guinness, Flour Mills and ETI completed the top 5 price percentage losers log with 9.92%, 9.88% and 8.99% respectively.

As at the time this report was gathered, Brent Crude sells at 25.58$/bbl, this is 84Bpts below the previous close price.

The I&E FX Window opened at N386.01 traded as high as N398.35 before rounding up at N385.55, having transacted a total of $25.58 million through the day. Please note that, margin between the close and open value is 0.00Bpts 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 6.08%, same as 3.75% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.50% that is 3.00% 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

Red Start: The Bear Kicks off H1-2020, Despite Rough First Quarter

Equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the month in the negative territory, as the lead performance pointer NSEASI gave up 94Bpts, and closed at 21,100.54 from 21,300.47. Safe NSE-Oil&Gas and NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead index is 348Bpts below opening while the total lost points in the month of April is now 94Bpts. See the index movement table for details.

Undoubtedly, the market still suffers under the burden of unfavourable effect of COVID-19, as investors continue to play safe, despite the very attractive equities prices. The truth is that, many funds are currently trapped by the bear, while few traders with trading capital are currently taking advantage of the induced drops in the prices of listed equities. Most intelligent investment decision is to avoid panic selling at the moment.

Value loss by the Market Capitalization of the listed equities during today’s trading activities was N104.193 billion, same as 94Bpts below the opening value. Meanwhile, trading activities for the day produced 06 ADVANCERS and 26 LAGERS. NSEASI Year to Date loss is now 2,139Bpts while the Market Capitalization Year to Date loss stood at N1.961 trillion same as 1,514Bpts below the year’s opening value.

Leading on the advancers’ log is MTNN with 9.33% price gain that closed its price at N98.40 from N90.00. International Breweries followed closely with 9.18%, thus it closed at N5.35 from N4.90. Livestock Feeds, Cadbury and NAHCO completed the top 5 price percentage gainer’s log with 8.47%, 4.41% and 4.00% respectively.

Unilever led the decliners’ log with 10.00% as it rounded up trade at N9.90 from N11.00. Dangote Cement followed with 9.95%, closing at N116.80 from N129.70. Guinness, Flour Mills and ETI completed the top 5 price percentage losers log with 9.92%, 9.88% and 8.99% respectively.

As at the time this report was gathered, Brent Crude sells at 25.58$/bbl, this is 84Bpts below the previous close price.

The I&E FX Window opened at N386.01 traded as high as N398.35 before rounding up at N385.55, having transacted a total of $25.58 million through the day. Please note that, margin between the close and open value is 0.00Bpts 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 6.08%, same as 3.75% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 5.50% that is 3.00% 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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