FeaturedMarket Update

Year to Date Losses Dusted, as NGXASI Dives North with Vigor

Bringing Year to Date returns to the green zones, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer- NSEASI added 118Bpts to its trading points, and closed at 40,716.66 from 40,243.05. Safe NSE-Consumer Goods and NSE-Insurance Indexes that shed points, other observed market indices in this report gained. Thus, Week to Date, the lead index is 123Bpts above opening, while the total gained points in the month October is now 123Bpts. See the index movement table for details.

 

Fundamental View

 

The month of September ended in strong positive drive as investors positioned for expected nine months financials. Recall that, we had consistently noted that the month will experience positive surge towards the end. We expect the positive move to linger for some more trading days in the month of October. After today’s positive move, market year to date returns turned green. Meanwhile, since most of the expected results will be unveiled within the current month, and they are bound to be mixed, especially due to the mixed Fx regime within which it operated the third quarter of the month; thus, we expect a mixed performance within the month. We also expect the market to take advantage of the prevailing low interest yield as against the improving dividend yield around the market. On the strength of the above, we strictly recommend that investors play cautiously by carefully observing earnings trend from the first quarter of the year through the second quarter, and predict with lowest possible confidence interval, expected performances in the third quarter.

 

Technical View

As noted in our report yesterday, today’s move is the continuation of the positive drive, silencing the undertone voice of the profit takers. By this move, the market had taken a bold step towards its major resistance YoY. We have identified a major YoY market resistance at 41,781.10 point and a support at 37,878.40. Please understand that, technically, a short profit taking activities should be expected, but if the market fundamental is strong enough, such move might be negligible.

MACD on a daily chart had finally crossed its signal line from the bottom, indicating a buy position. Please understand that MACD is indecisive on the weekly and a buy on the monthly chart. This signal cautious trade. RSI is currently in the overbought region while our set-up RSI Cross Over, which combine RSI-15 and RSI-7 maintained a buy position. The beauty of this is that, the indicator is a buy on Daily, Weekly and Monthly chart readings. Kindly play by the trend.

 

Index Movements

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N246.786 billion, same as 118Bpts above the opening value. Meanwhile, trading activities for the day produced 32 ADVANCERS and 18 LAGERS. NGXASI Year to Date gain is now 111Bpts while the Market Capitalization Year to Date gain now stood at N159.98 billion same as 76Bpts above the year’s opening value.

 

Gainers & Losers

Leading on the advancers’ log is FBNH that gained 9.76% to round up the day’s trade at N9.00 from N8.20. PharmaDeko followed with 9.69% to end at N2.83 from N2.58. Courteville, Learn Africa and Jaiz Bank rounded up the top 5 price percentage gainers log with 7.89%, 7.64% and 7.02% respectively.

On the flip side University Press (UPL) led with 9.63% loss, as it closed at N1.22 from N1.35. Regency Alliance followed with 8.89% to round up the day’s trade at N0.41 from N0.45. International Breweries, Pz Cussons and CHIPLC completed the top 5 price percentage losers’ log with 6.25%, 5.22% and 4.84% respectively.

Top Performers for the Day

Top 5 Trades

Investors did a total of 336 deals on the shares of FBNH, while a total of 292 transactions were made on Access Bank shares through today’s trading session. Zenith Bank was next on the top 5 list with 271 transactions, while UBA and GTCO completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 105.10 million units of Universal Inurance through the day’s trade. FBNH followed on the most traded by volume with 46.30 million shares. Access Bank, GTCO and Courtville completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on GTCO (N721.39 million) was the highest for the day, followed by Airtel Africa where investors exchange N526.59 million worth of shares. FBNH, Access Bank and Zenith Bank respectively completed the list as shown in the above table.

 

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the negative territory by shedding 0.62% to close the day’s trade at 729.38, similarly, the market Capitalisation equally rounded up in the red as it lost 0.62% and close at 633.96 billion. Today’s performance produced two (2) advancers, and three (3) decliners. Kindly view today’s price list Here.

 

FMDQ BRIEF

The I&E FX Window opened at N414.03 traded as high as N415.20 before rounding up at N414.30, having transacted a total of $122.15 million through the day. Please note that, margin between the close and open value is 18Bpts 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 6.83%, same as 1.82% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 6.17% that is 1.83% below the previous close.

 

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 82.50$/bbl, this is 7Bpts below the last close price. Safe Trade.

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FeaturedMarket Update

Year to Date Losses Dusted, as NGXASI Dives North with Vigor

Bringing Year to Date returns to the green zones, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer- NSEASI added 118Bpts to its trading points, and closed at 40,716.66 from 40,243.05. Safe NSE-Consumer Goods and NSE-Insurance Indexes that shed points, other observed market indices in this report gained. Thus, Week to Date, the lead index is 123Bpts above opening, while the total gained points in the month October is now 123Bpts. See the index movement table for details.

 

Fundamental View

 

The month of September ended in strong positive drive as investors positioned for expected nine months financials. Recall that, we had consistently noted that the month will experience positive surge towards the end. We expect the positive move to linger for some more trading days in the month of October. After today’s positive move, market year to date returns turned green. Meanwhile, since most of the expected results will be unveiled within the current month, and they are bound to be mixed, especially due to the mixed Fx regime within which it operated the third quarter of the month; thus, we expect a mixed performance within the month. We also expect the market to take advantage of the prevailing low interest yield as against the improving dividend yield around the market. On the strength of the above, we strictly recommend that investors play cautiously by carefully observing earnings trend from the first quarter of the year through the second quarter, and predict with lowest possible confidence interval, expected performances in the third quarter.

 

Technical View

As noted in our report yesterday, today’s move is the continuation of the positive drive, silencing the undertone voice of the profit takers. By this move, the market had taken a bold step towards its major resistance YoY. We have identified a major YoY market resistance at 41,781.10 point and a support at 37,878.40. Please understand that, technically, a short profit taking activities should be expected, but if the market fundamental is strong enough, such move might be negligible.

MACD on a daily chart had finally crossed its signal line from the bottom, indicating a buy position. Please understand that MACD is indecisive on the weekly and a buy on the monthly chart. This signal cautious trade. RSI is currently in the overbought region while our set-up RSI Cross Over, which combine RSI-15 and RSI-7 maintained a buy position. The beauty of this is that, the indicator is a buy on Daily, Weekly and Monthly chart readings. Kindly play by the trend.

 

Index Movements

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N246.786 billion, same as 118Bpts above the opening value. Meanwhile, trading activities for the day produced 32 ADVANCERS and 18 LAGERS. NGXASI Year to Date gain is now 111Bpts while the Market Capitalization Year to Date gain now stood at N159.98 billion same as 76Bpts above the year’s opening value.

 

Gainers & Losers

Leading on the advancers’ log is FBNH that gained 9.76% to round up the day’s trade at N9.00 from N8.20. PharmaDeko followed with 9.69% to end at N2.83 from N2.58. Courteville, Learn Africa and Jaiz Bank rounded up the top 5 price percentage gainers log with 7.89%, 7.64% and 7.02% respectively.

On the flip side University Press (UPL) led with 9.63% loss, as it closed at N1.22 from N1.35. Regency Alliance followed with 8.89% to round up the day’s trade at N0.41 from N0.45. International Breweries, Pz Cussons and CHIPLC completed the top 5 price percentage losers’ log with 6.25%, 5.22% and 4.84% respectively.

Top Performers for the Day

Top 5 Trades

Investors did a total of 336 deals on the shares of FBNH, while a total of 292 transactions were made on Access Bank shares through today’s trading session. Zenith Bank was next on the top 5 list with 271 transactions, while UBA and GTCO completed the top five (5) trades for the day, as shown in the below table.

Top 5 Performance by Volume

Traders traded 105.10 million units of Universal Inurance through the day’s trade. FBNH followed on the most traded by volume with 46.30 million shares. Access Bank, GTCO and Courtville completed the top 5 most traded shares for the day.

Top Performance by Value

The Value of the shares traded on GTCO (N721.39 million) was the highest for the day, followed by Airtel Africa where investors exchange N526.59 million worth of shares. FBNH, Access Bank and Zenith Bank respectively completed the list as shown in the above table.

 

NASD-OTC BRIEF

Over the Counter (OTC) Market Index ended in the negative territory by shedding 0.62% to close the day’s trade at 729.38, similarly, the market Capitalisation equally rounded up in the red as it lost 0.62% and close at 633.96 billion. Today’s performance produced two (2) advancers, and three (3) decliners. Kindly view today’s price list Here.

 

FMDQ BRIEF

The I&E FX Window opened at N414.03 traded as high as N415.20 before rounding up at N414.30, having transacted a total of $122.15 million through the day. Please note that, margin between the close and open value is 18Bpts 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 6.83%, same as 1.82% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate as at ended at 6.17% that is 1.83% below the previous close.

 

CRUDE OIL PRICE MOVEMENT

As at the time this report was gathered, Brent Crude sells at 82.50$/bbl, this is 7Bpts below the last close price. Safe Trade.

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