Thursday 7 July 2022

MARKET ENDS 3-DAY LOSING STREAK WITH A MARGINAL GROWTH OF 0.01%

After a 3-day losing streak, the market closed with a marginal growth rate of 0.01% rising to 51,563.73 points at market close today. Accordingly, the Year-to-date (YTD) return of the market remained unchanged at 20.7%.
 
Market activities turned positive as the total volume traded grew +5.9% to 143.28mn units and value traded +22.1% to ₦1.76bn. JAIZBANK, GTCO and STERLNBANK led the volume chart with 42.10mn units, 19.45mn units and 9.41mn units respectively. The top traded stocks by value were AIRTELAFRI (₦572.18mn), GTCO (₦396.76mn) and DANGCEM (₦128.47mn).
 
For the sectors under our coverage, performance was bullish as three indices closed in the green. The Banking Index gained 50bps, followed by 10bps in the Consumer Goods and Industrial Goods of 0.2bps. The Insurance index closed in red, and the Oil and Gas index closed flat.
 
Daily Currency Update
On daily currency updates, I&E and the parallel market's prices closed at ₦427.75/US$1.00 and ₦615/US$1.00 respectively. The current P2P Forex market price is ₦618.50/US$1.00. Nigeria's external reserves improved 0.04% to US$39.27billion. FX Supply stood at US$81.64 million.

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