It was a bearish handshake for the month of November as the first trading day of the month slashed off 142Bpts from the market trading points, thus, NSEASI rounded up trade at 32,006.65 from 32,466.27. Please note that it was generally a bearish day, as all observed market sub-indices in this report closed below their respective opening points. By this performance, total point lost within the current week is now 274Bpts. See the index movement table for details.
Value loss by the market capitalization of the listed equities during today’s trading activities was N434.230 billion, same as 142Bpts below the opening value. Meanwhile, trading activities for the day produced 11 advancers and 24 lagers. NSEASI Year to Date loss is now 16.31% while the Market Capitalization Year to Date loss stood at N1.924 trillion same as 14.14% below the year’s opening value.
According to a report from the Nigerian Stock Exchange, the shares of six listed equities were suspended with effective from today, 1st November, 2018. They were suspended for failing to file in their accounts before the end of cure periods and Treatment of Default accounts. The equities are; Unity Bank Plc, Fortis Microfinance Bank Plc, Thomas Wyatt Nigeria Plc, Multi-Trex Intergrated Foods Plc, Golden Guinea Breweries Plc and Deap Capital Management & Trust Plc. Meanwhile, it was observed that Unity Bank Plc released its nine months financials before the close of trade today. In our opinion, there might be fines to be paid and some process before the suspension is removed.
As at the time we compiled this report, Brent Crude trades at $72.89/bbl having gained 2.15% from the last close price.
At the interbank rate today, the Naira closed unchanged at N306.60, against the USDollar. See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.32 traded as high as N364.50 before rounding up at N363.54, having transacted a total of $397.57 million through the day. Please note that, margin between the close and open value is an equivalent of 0Bpts gain. We are of the opinion that the FX-Market will trade within same range tomorrow.
In the money market, the Overnight (O/N) rate closed at 4.92%, same as 0.00% of the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 4.50%, that is, 0.17% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. SafeTrade.