Money

Naira Remained Unchanged at N361/$1 at Black Market

 

 

EQUITIES:

The Nigerian equities market closed the first trading session of the week in the green region, gaining 0.19%.
Similarly, in today’s trade market breadth index was positive with 16 gainers against 11 stocks that declined.
Today’s performance was driven by the gains in UNITYBNK (+9.09%), NEIMETH (+8.47%), MBENEFIT (+7.69%), CAVERTON (+7.61%), NEM (+5.42%), and HONYFLOUR(+2.13%) which more than offset losses in JOHNHOLT (-9.43%), GUINEAINS (-6.02%), AIICO (-5.66%) and PRESCO (-4.17%).
Sector performances were positive with Banking (+0.42%) emerging the best performer, followed by Consumer Goods (+0.09%) which also closed in green region. However, Oil & Gas and Industrial closed flat.
In terms of activity level, total volume and value decreased by 28% and 10% as investors exchanged 121million units of shares worth N1.34billion respectively. GUARANTY (+0.41%) was the most actively traded with 22million units of shares worth about N789million.
Despite the recent sell-off in the equities market in the previous weeks, we believe this presents decent entry opportunities in our quality names.
CURRENCY:

· At the IEFX window, while Naira shed 0.22% against USD to close at N364.61, it gained 0.27% and 0.33% against EUR and GBP to close at N415.91 and N473.43 respectively.

· In the parallel market, the Naira remained unchanged at N361/USD and NN478/GBP while it gained 0.48% against the EUR to close at N414.

· Going forward, we expect the FX market to continue to see support from CBN’s intervention sales.

FIXED INCOME:

· Money market rates declined today as the Overnight and Open Buy Back rates shed 1,192bps and 1,136bps to close at 10.58% and 9.50% respectively.

· The bond market was negative today as yields increased across most tenors. While the yield on the 7yr benchmark bond closed flat at 14.92%, the yields on the 5yr and 10yr benchmark bonds increased by 2bps and 8bps to close at 14.84% and 15.18% respectively.

· In the near term, we expect market activity to be influenced by liquidity levels and foreign investor participation.

Below are key NSE statistics as at the end of trades:

Current

32,444.96

Mkt Cap (N’tr)

11.84

Previous

32,383.15

Vol. Traded (m)

121

Day Change

0.19%

Vol. Day Chng.

-27%

WTD Return

0.19%

Val. Traded (N’bn)

1.34

MTD Return

-0.98%

Val. Day Chng.

-10%

YTD Return

-15.16%

No. of Deals

2,431

YTD High

45,092.83

No. of Gainers

16

YTD Low

32,022.23

No. of Losers

11

52wk High

45,092.83

Top Sub Sect. (by Vol.)

BNK (62%)

52wk Low

32,022.23

Top Sub Sect. (by Val.)

BNK (80%)

NASD Pricelist was not available as at the time of writing this report.

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close