MARKET STRUGGLES TO SUSTAIN MOMENTUM, DOWN 0.1%

After starting H2 2022 on a positive note, the market struggled to sustain momentum as the domestic bourse declined 0.1% to 51,791.45 points. Consequently, the Year-to-date (YTD) return of the market weakened to 21.2%, previously at 21.3%.

 

The total volume and value traded rose 52.8% and 65.3% to 194.08mn units and ₦2.82bn respectively. For the most traded stocks by volume, TRANSCORP led at 25.07mn units, followed by GTCO and UBA at 20.17mn units and 17.59mn units respectively. Top traded value was led by MTNN (₦799.89mn), GTCO (₦413.01mn) and AIRTELAFRI (₦349.27mn).

 

For the indices under our coverage, 3 were negative: the Consumer Goods index (-0.9%), Oil and Gas index (-0.3%), and the Industrial Goods index (-0.1%) while 2 were positive: the Banking (+0.2%) and Insurance (+0.1%).

 

Daily Currency Update

On daily currency updates, I&E and the parallel market's prices closed at ₦425.00/US$1.00 and ₦613/US$1.00 respectively. The current P2P Forex market price is ₦615.73/US$1.00. Nigeria's external reserves improved 0.5% to US$39.15 billion. FX Supply stood at US$78.86 million indicating a gain of 2.9%.