FeaturedMarket Update

Trading Opportunities Increase, as NSEASI Gaps South

Extending negative sentiments, equities trading on the floor of The Nigerian Stock Exchange ended the third trading day of the week in the negative territory, as the lead performance pointer, NSEASI gave up 196Bpts of its trading points and closed at 40,696.01 from 41,510.16. Safe NSE-Oil & Gas Index that closed flat, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead index is 243Bpts below opening, while Month to Date loss is now 405Bpts. See the index movement table for details.

What commenced as profit taking activities, had today entered the eighth day, that is; the eight-trading days observed so far in the month of February had slashed 2.43% off market trading points. Please understand that we do not overlook the sharpness of the trend that took the market to its last high before the pull back commenced; as we had noted in our previous updates, it increased the risk of playing the market at the moment, nevertheless, since market fundamentals are still intact, and corporate earnings remained mixed as before, the possibilities of the market maintaining uptrend is strong.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N425.918 billion, same as 196pts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 37 LAGERS. NSEASI Year to Date gain is now 106Bpts while the Market Capitalization Year to Date gain stood at N233.143 billion same as 111Bpts above the year’s opening value.

Leading on the advancers’ log is Niger-Insurance that gained 10.00% to close at N0.22 from N0.20. Champion Breweries followed on the log with 9.82% gain, thus it closed at N3.02 from N2.75. Wapic, Academy Press and Guinness completed the top 5 price percentage gainers list with 7.41%, 6.06% and 4.83% respectively.

On the flip side, six equities lined up with 10.00% loss from their respective previous close prices. They are; Cap Plc, Etranzact, Sunu-Assurance, Fidson Healthcare, Regency Alliance and Sovereign Insurance. Please see the top perfromers’ log for details.

Over the Counter Market Index and Capitalisation ended in the negative territory by shedding 0.41% each, thus, each rounded up at 739.61 and N530.68 billion respectively. Today’s performance produced one (1) advancer and two (2) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 61.12$/bbl, this is 5Bpts above the previous close price. Please note that the CBN spot reference price as at close of business on 5th February is 60.20$/bbl.

The I&E FX Window opened at N401.04 traded as high as N405.00 before rounding up at N400.00, having transacted a total of $50.74 million through the day. Please note that, margin between the close and open value is 25pts down. 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 5.25%, same as 3.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 5.00% that is 3.50% below the previous close. Safe Trade

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FeaturedMarket Update

Trading Opportunities Increase, as NSEASI Gaps South

Extending negative sentiments, equities trading on the floor of The Nigerian Stock Exchange ended the third trading day of the week in the negative territory, as the lead performance pointer, NSEASI gave up 196Bpts of its trading points and closed at 40,696.01 from 41,510.16. Safe NSE-Oil & Gas Index that closed flat, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, lead index is 243Bpts below opening, while Month to Date loss is now 405Bpts. See the index movement table for details.

What commenced as profit taking activities, had today entered the eighth day, that is; the eight-trading days observed so far in the month of February had slashed 2.43% off market trading points. Please understand that we do not overlook the sharpness of the trend that took the market to its last high before the pull back commenced; as we had noted in our previous updates, it increased the risk of playing the market at the moment, nevertheless, since market fundamentals are still intact, and corporate earnings remained mixed as before, the possibilities of the market maintaining uptrend is strong.

The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N425.918 billion, same as 196pts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 37 LAGERS. NSEASI Year to Date gain is now 106Bpts while the Market Capitalization Year to Date gain stood at N233.143 billion same as 111Bpts above the year’s opening value.

Leading on the advancers’ log is Niger-Insurance that gained 10.00% to close at N0.22 from N0.20. Champion Breweries followed on the log with 9.82% gain, thus it closed at N3.02 from N2.75. Wapic, Academy Press and Guinness completed the top 5 price percentage gainers list with 7.41%, 6.06% and 4.83% respectively.

On the flip side, six equities lined up with 10.00% loss from their respective previous close prices. They are; Cap Plc, Etranzact, Sunu-Assurance, Fidson Healthcare, Regency Alliance and Sovereign Insurance. Please see the top perfromers’ log for details.

Over the Counter Market Index and Capitalisation ended in the negative territory by shedding 0.41% each, thus, each rounded up at 739.61 and N530.68 billion respectively. Today’s performance produced one (1) advancer and two (2) decliner. Kindly view today’s price list Here.

As at the time this report was gathered, Brent Crude sells at 61.12$/bbl, this is 5Bpts above the previous close price. Please note that the CBN spot reference price as at close of business on 5th February is 60.20$/bbl.

The I&E FX Window opened at N401.04 traded as high as N405.00 before rounding up at N400.00, having transacted a total of $50.74 million through the day. Please note that, margin between the close and open value is 25pts down. 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 5.25%, same as 3.50% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 5.00% that is 3.50% below the previous close. Safe Trade

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