Sunday 7 August 2022

NIGERIAN EQUITY MARKET: DOMESTIC EQUITIES MARKET (05-08-2022)

The Nigerian equity market gained 0.28% to settle at 50,722.33 points. Accordingly, the Year-To-Date (YTD) return of the market stood at 18.7%. Across market indices under our purview, performance was largely bullish as four indices gained while the Insurance index declined by 0.4%.The Consumer Goods and Oil and Gas indices gained 1.52% and 0.37% respectively. Also the Industrial Goods and Banking indices gained 0.35% and 0.06% respectively.
 
Top gainers in today's trading session were led by ETERNA (+10.0%), MULTIVERSE (+9.9%) and JAPAULGOLD (+9.6%), while UNILEVER (-10.0%), SKYAVN (-8.7%) and GUINNESS (-8.3%) emerged as today's biggest losers.
 
For today's trading activities, the total volume and value traded gained 14.1% and 18.7% to 148.8mn to ₦1.9bn respectively. HONYFLOUR, GTCO and FBNH led the volume chart with 22.0mn units, 21.6mn units, and 11.3mn units respectively. On the other hand, GTCO, ZENITHBANK, and MTNN led the value chart by ₦445.6mn, ₦223.1mn and ₦172.4mn respectively.
 
The graph depicts the revenue, gross profit, and profit after tax (net profit) for the top gainers in today's trading session from 2017 to 2021. This foundation from the previous year served as a sufficient springboard to maintain their Q3 revenue base throughout the years under consideration.
 
Daily Currency Updates
On daily currency update, I&E and the parallel market's prices closed at ₦428.12/US$1.00 and ₦660.00/US$1.00 respectively. The current P2P Forex market price is ₦655.20/US$1.00. Nigeria's external reserves closed at US$39.07bn.
 
Weekly Recap
The local bourse experienced bearish performance during the course of the week as only two trading days; August 2nd and 5th, closed in green while the other trading days closed in red. This week, the equities market closed at 50,722.33 points as against opening at 50,582.30 points, with Week-to-Date (WTD), Month-to-Date (MTD), and Year-to-Date (YTD) closing at 0.7%, 0.7%, and 18.7% respectively. Investors earned N196 billion in profit during the review of this trading week, primarily because of gains in Consumer Goods (+3.0%), Banking(+2.6%), and Oil & Gas (+0.6%) sectors as seen in WTD. Industrial Goods (-5.7%) and Insurance (-0.4%) sectors closed in red on WTD.
 
Substantially, findings reveal the opening and closing values of the following sectors; Banking index (387.93open – 388.17close), Insurance index (167.10open – 166.43close), Consumer Goods index (581.63open – 590.49close), Oil and Gas index (557.54open – 559.60close), and Industrial Goods index (1,936.68open – 1,943.55close). Furthermore, the percentage change for these indices under our purview are Banking and Consumer Goods (-0.1%, +0.2%; +0.6%, +1.1%; -0.3%, +0.4%; +2.1%, +0.1%; +0.06%,+1.5%), while the others are depicted in the attached document.

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