FeaturedMarket Update

Traders Mood Brighten as NBS Releases Q4-2018 GDP Figures: 12/02/19

Soaring through the positive line, equities trading on the floor of The Nigerian Stock Exchange added a whooping 214Bpts to its trading points and rounded up trade at 32,462.31 from 31,781.87. Safe NSE-Insurance Index that shed points, other observed market indices (in this report) gained. Thus, Week to Date, lead activities index is up by 296Bpts while total gained points in the month of February is now 623Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N253.747 billion, same as 214Bpts above the opening value.  Meanwhile, trading activities for the day produced 38 ADVANCERS and 14 LAGERS. NSEASI Year to Date gain is now 328Bpts while the Market Capitalization Year to Date gain stood at N384.986 billion same as 328Bpts below the year’s opening value.

As noted in our report yesterday, market is currently building on improved liquidity around the market. In a normal circumstances, traders would have opted for profit taking after the prolonged boost from the bull, but seeing the market soaring higher, without any visible trace of profit taking activities; one could safely conclude that the liquidity currently sparkling up the market is not ready to exit the market in a hurry. Further justifying the bullish run is the earnings season positioning that is currently at play around the market arena; this, couple with the positive GDP figure released today by the national bureau of statistics stand out amongst other positive market fundamentals. Nevertheless, we maintained our stand for heightened cautiousness around the market.

As at the time we compiled this report, Brent Crude trades at $62.41/bbl having gained 0.90% above the last close price.

At the interbank rate today, the Naira closed at N306.75 against the USDollar difference representing 2Bpts below the previous close.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N361.86 traded as high as N362.75 before rounding up at N361.87, having transacted a total of $113.86 million through the day. Please note that, margin between the close and open value is an equivalent of 2Bpts 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 27.50%, same as 20.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 24.17%, that is, 19.17% 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

Traders Mood Brighten as NBS Releases Q4-2018 GDP Figures: 12/02/19

Soaring through the positive line, equities trading on the floor of The Nigerian Stock Exchange added a whooping 214Bpts to its trading points and rounded up trade at 32,462.31 from 31,781.87. Safe NSE-Insurance Index that shed points, other observed market indices (in this report) gained. Thus, Week to Date, lead activities index is up by 296Bpts while total gained points in the month of February is now 623Bpts. See the index movement table for details.

Value gained by the market capitalization of the listed equities during today’s trading activities was N253.747 billion, same as 214Bpts above the opening value.  Meanwhile, trading activities for the day produced 38 ADVANCERS and 14 LAGERS. NSEASI Year to Date gain is now 328Bpts while the Market Capitalization Year to Date gain stood at N384.986 billion same as 328Bpts below the year’s opening value.

As noted in our report yesterday, market is currently building on improved liquidity around the market. In a normal circumstances, traders would have opted for profit taking after the prolonged boost from the bull, but seeing the market soaring higher, without any visible trace of profit taking activities; one could safely conclude that the liquidity currently sparkling up the market is not ready to exit the market in a hurry. Further justifying the bullish run is the earnings season positioning that is currently at play around the market arena; this, couple with the positive GDP figure released today by the national bureau of statistics stand out amongst other positive market fundamentals. Nevertheless, we maintained our stand for heightened cautiousness around the market.

As at the time we compiled this report, Brent Crude trades at $62.41/bbl having gained 0.90% above the last close price.

At the interbank rate today, the Naira closed at N306.75 against the USDollar difference representing 2Bpts below the previous close.  See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N361.86 traded as high as N362.75 before rounding up at N361.87, having transacted a total of $113.86 million through the day. Please note that, margin between the close and open value is an equivalent of 2Bpts 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 27.50%, same as 20.00% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 24.17%, that is, 19.17% 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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