The Nigerian equity market declined 4bps or 0.04% as
the NGX-ASI closed at 49,682.15 points. Accordingly, the Year-To-Date (YTD)
return of the market strengthened to 16.3% from 15.6% the previous trading day.
Across market indices under our purview, there was
mixed performance as two indices posted green while three indices posted red.
The Consumer Goods and Oil and Gas indices gained 51bps and 16bps respectively.
The gains are largely accredited to NESTLE (+3.3%) and OANDO (+1.0%)
respectively.
On the other hand, Banking index closed by declining
67bps, the Insurance and industrial Goods declined by 39bps and 1bps
respectively. We attribute the losses to investors' selloffs in UBN (-6.6%),
LASACO (-4.9%) and WAPCO (-0.2%) respectively.
Top gainers in today's trading session were led by
JAPAULGOLD (+9.6%), MBENEFIT (+7.1%) and FCMB (+5.9%), while ELLALAKES
(-10.0%), VITAFOAM (-9.7%) and NPFMCRFBK (-9.1%) emerged as today's biggest
losers.
For today's trading activities, the total volume
declined by 14.5% to 193.5mn units, while total value traded gained 67.9% to
₦4.6bn. JAIZBANK, FBNH and ACCESSCORP led the volume chart with 45.9mn units,
24.9mn units, and 18.9mn units respectively. On the other hand, NESTLE, FBNH
and MTNN led the value chart by ₦3.1bn, ₦270.9mn and ₦263.6mn respectively.
QUICK INSIGHTS
Japaul Gold and Ventures Plc, a Nigerian mining and
technology development business, reported a 37.1% year-on-year decline in
revenue from N689.6 million in 2020 to N434.1 million in 2021. The company
earned the highest revenue in the five years under study in 2017, when it
recorded N1.9 billion. However, revenue fell by 50.7%, 22.5%, and 4.9%
year-on-year in subsequent years.
DAILY CURRENCY UPDATES
On daily currency update, I&E and the parallel
market's prices closed at ₦430.67/US$1.00 and ₦695/US$1.00 respectively. The
current P2P Forex market price is ₦695.99/US$1.00. Nigeria's external reserves
closed at US$38.94bn.
WEEKLY RECAP
In this week's trading session, the Nigerian equity
market experienced a bearish performance as four of the five indices under our
coverage posted red while Insurance index closed in green gaining 388bps or
3.8% week-to-date (WTD). The Insurance sector closed its value traded at
₦59.2mn, while the Oil and Gas, Industrial Goods, Banking and Consumer Goods
sectorial indices closed their value traded at ₦12.2mn, ₦44.5mn, ₦404.6mn and
₦3.2bn respectively.
Furthermore, the local bourse closed at 49,682.15
points as against opening at 49,661.87 points, as WTD gained 63bps. The
Month-to-date (MTD) posted red as it declined by 137bps, meanwhile the
Year-to-Date (YTD) return of the market gained 16.31% or 1,631bps.
The market's capitalisation closed at ₦26.8 trillion gaining
about ₦168 billion. We attribute the gain to buyers' interests in Consumer
Goods and Oil and Gas Indices.
Furthermore, the opening and closing values of the
following sectors under our purview; Banking index (387.16open – 384.55close),
Insurance index (181.40open – 180.70close), Consumer Goods index (588.50open –
591.91close), Oil and Gas index (529.29open – 530.15close), and Industrial
Goods index (1,770.85open – 1,770.60close).
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