Across market indices under our purview, performance
was largely bullish as four indices posted green, while the Oil and Gas Index
posted red.
The Banking Index gained the highest by 87bps,
followed by the Insurance Index which gained 44bps. The Industrial Goods and
Consumer Goods Indices gained 15bps and 6bps respectively. The gains are
majorly attributed to FCMB (+6.1%), NEM (+7.6%), WAPCO (+1.8%) and FLOURMILL (+3.4%)
respectively. Meanwhile, the Oil and Gas Index declined by 16bps. The loss can
be attributed to major selloffs in OANDO (-1.2%).
Top gainers in today's trading session were led by NEM
(+7.6%), CHAMS (+6.9%) and FCMB (+6.1%), while HONYFLOUR (-10.00%), LEARNAFRCA
(-8.9%) and LINKASSURE (-7.7%) emerged as today's biggest losers.
For today's trading activities, the total volume
traded and value traded gained 97.1% and 14.6% respectively to 319.0mn units
and ₦1.9bn. STERLNBANK, UBA and ZENITHBANK led the volume chart with 173.8mn
units, 54.0mn units, and 14.0mn units respectively. On the other hand, UBA,
MTNN and ZENITHBANK led the value chart by ₦400.6mn, ₦289.5mn and ₦281.4mn
respectively.
Quick
Insights
NEM Insurance Plc, the market's top gainer today,
posted a year-on-year increase in total assets for the years covered by BRIU
experts. In addition, its overall liabilities increased year-on-year. The
company's total assets averaged N27.0 billion, while total liabilities averaged
N11.5 billion.
According to its audited financial report for fiscal
year 2021, the value of cash and cash equivalent at amortised cost constituted
the greatest value among total assets, at N7.9 billion.
Insurance contract obligations accounted for the
majority of its total liabilities, which totalled N15.3 billion in the same
year. The company's debt ratio is at 0.4 in 2021, indicating that it has more
assets than liabilities and a reasonable amount of leverage.
Daily
Currency Updates
On daily currency update, I&E and the parallel
market's prices closed at ₦436.32/US$1.00 and ₦700/US$1.00 respectively. The
current P2P Forex market price is ₦706.40/US$1.00. Nigeria's external reserves
closed at US$38.91bn.
Weekly
Recap
In this week's trading session, the Nigerian equity
market experienced a mixed performance as three indices under our coverage
posted red while two posted green week-to-date (WTD).
The Banking sector closed its value traded at
₦975.2mn, while the Consumer Goods, Industrial Goods, Oil and Gas, and
Insurance sectorial indices closed their value traded at ₦213.2mn, ₦71.0mn,
₦25.2mn and ₦4.1mn respectively.
Furthermore, the local bourse closed at 49,695.12
points as against opening at 49,652.25 points, as WTD declined by 70bps. The
Month-to-date (MTD) posted red as it also declined by 28bps. However, the
Year-to-Date (YTD) return of the market gained 16.3% or 1,630bps.
The market's capitalisation closed at ₦26.8 trillion
shedding about ₦189 billion. We attribute the loss to investors' selloffs in
Banking, Industrial Goods and Oil and Gas sectors.
Furthermore, the opening and closing values of the
following sectors under our purview; Banking index (383.54open – 386.88close),
Insurance index (181.87open – 182.67close), Consumer Goods index (607.32open –
607.70close), Oil and Gas index (533.85open – 533.01close), and Industrial
Goods index (1,791.74open – 1,794.45close).
Furthermore, the percentage change for these indices
under our purview are Consumer Goods and Insurance (+0.6%, -0.1%; +0.2%, -0.1%;
+0.1%, -0.03%; -0.2%, +0.8%; +0.1%, +0.4%), while the others are revealed in
the attached document.
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