Equities Market

  • The Nigerian equities market declined on the first trading day of the new month, as both NSE ASI and market capitalization decreased by 0.17% respectively, as they both closed at 32,711.65points and N11,942.28tr respectively, at today’s trading activity. Year-to-Date ASI is at a negative of 14.51%.
  • Volume , Value of trades and No of trades all increased by 0.03%, 19.89% and 27.22% to N184.593M, 3,383.64B and 2,889, respectively.
  • FO topped the gainers’ table with percentage price change of 6.73%, while CCNN led the losers’ chart with percentage change of 8.30%
  • Market breadth was NEGATIVE with Fifteen (15) gainers against Seventeen (17) price losers.

Money and Fixed Income Market

  • The OBB and OVN rate closed at 4.83% and 5.58%, as system liquidity remained robust at about N470 bn.
  • The bond market commenced the week on a brighter note with marginal cherry pick, while yield declined by about 7bps. Market sentiment was positively geared towards 2020s, 2026 and 2028 maturities.
  • The T-bills market witnessed positive sentiment on the back drop of system robust liquidity level, however this was short lived has this positive trend fueled profit taking activities, which spurs massive sell off in the market.

Foreign News
Canada and United States reach trade deal to replace NAFTA
The United States and Canada agreed to a deal to replace the North American Free Trade Agreement shortly before a midnight deadline. The 24-year-old NAFTA, which President Donald Trump railed against as a disaster, will be replaced by the USMCA — the United States-Mexico-Canada Agreement. In a joint statement, U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said the agreement “will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home.” The plan is for the leaders of the three North American countries to sign before the end of November, after which it would be submitted to Congress.
Foreign Exchange Market

  • The NGN/USD exchange rate appreciated marginally to N363.88 at the I & E FX Window. While parallel market remained stable at N360/$, whereas CBN Official rate decline to N306.40. Read More: