Bringing the week performance to green zone, equities trading on the floor of The Nigerian Stock Exchange added 95Bpts to its last trading point as it closed at 32,722.18 from 32,413.00. Safe NSE-Insurance and NSE-Oil & Gas that shed points, other observed market indices gained. Thus, Week to Date, lead activities index is up by 82Bpts while lost points within October adjusted down to 13Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N112.875 billion, same as 95Bpts below the opening value. Meanwhile, trading activities for the day produced 16 advancers and 23 lagers. NSEASI Year to Date loss is now 14.44% while the Market Capitalization Year to Date loss stood at N1.663 trillion same as 12.22% below the year’s opening value.
The management of UBA took the lead in unveiling its nine months financial position for the period ended 30th September, 2018 during today’s trading hours. The result was a marginal performance above the comparable period of 2017. Performance stood below our projected EPS of N1.90 by 5.26%. Estimate from the released figures yielded EPS of N1.80 as against the N1.78 achieved in its Q3-2017 financials. We maintained that third quarter earnings remains the best investment pointer through the last quarter of the year.
As at the time we compiled this report, Brent Crude trades at $81.50/bbl having gained 0.09% from the last close price.
At the interbank rate today, the Naira closed unchanged at N306.50 against the USDollar same as 2Bpts below Friday’s close point. See below table for BDC rates by four major locations within the country. Meanwhile, the I&E FX Window started from N363.84 traded as high as N365.00 before rounding up at N364.33, having transacted a total of $61.25 million through the day. Please note that, margin between the close and open value is an equivalent of 11Bpts drop. 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 26.50%, same as 17.83% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 24.14%, that is, 15.77% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.