The Nigerian equity market closed today's trading
session with a contraction, declining by 33bps as the NGX-ASI closed at
49,026.62 points. Consequently, the Year-To-Date (YTD) return of the market
weakened to 14.8% from 15.2% the previous trading day.
Across market indices under our purview, two indices
posted green and three other indices posted red.
The Banking index gained the highest by 85bps, and the
Consumer Goods index gained 20bps. Their gains are attributed to the buyers'
interests in ACCESSCORP (+6.0%), FIDELITYBK (+3.0%), VITAFOAM (+6.9%) and
INTBREW (+1.0%) respectively.
Meanwhile, the Industrial Goods index stood as the
biggest loser as it contracted to 161bps, followed by the Insurance and Oil and
Gas indices which declined by 46bps and 21bps respectively. We attribute their
losses to major selloffs held in BERGER (-9.9%), BUACEMENT (-4.5%), SUNUASSUR
(-8.6%), WAPIC (-5.4%), and ETERNA (-9.5%).
The top gainers in today's trading session were led by
VITAFOAM (+6.9%), RTBRISCOE (+6.1%) and ACCESSCORP (+6.0%), while CWG (-10.0%),
BERGER (-9.9%) and ETERNA (-9.5%) emerged as today's largest losers.
For today's trading activities, the total volume and
total value traded grew by 33.4% and 79.2% respectively to 169.2mn units and
₦3.2bn. COURTVILLE, NGXGROUP and ZENITHBANK led the volume chart with 27.7mn
units, 24.5mn units, and 20.8mn units respectively. On the other hand,
BUACEMENT, NGXGROUP and ZENITHBANK led the value chart by ₦469.8mn, ₦417.4mn
and ₦416.8mn respectively.
Quick
Insights
According to our findings, VITAFOAM which emerged as
the biggest gainer at the end of this week's trading session closed with 44
trades which amounted to 829,786 units and ₦17.9mn by volume and value traded
respectively.
Our analysis on the inventory managed by the company
shows that they have garnered a yearly average of N5.3bn in inventories in the
last ten years. Notwithstanding, the inventories have also increased with an
average of 0.08% yearly.
Albeit, if the Inventories keep growing, the company's
current asset proves a higher chance of being managed properly, and more
revenue turnover is guaranteed per time.
Daily
Currency Updates
On daily currency update, I&E and the parallel
market's prices closed at ₦436.50/US$1.00 and ₦718/US$1.00 respectively. The
current P2P Forex market price is ₦721.40/US$1.00. Nigeria's external reserves
closed at US$38.51bn.
Weekly
Recap
In this week's trading session, the local bourse
closed in red as it declined by 91bps or 0.91%, albeit sectors under our
purview experienced a largely bearish performance as four indices posted red
save the Banking sector which gained 2.3% week-to-date (WTD).
The highest decliner was the Oil and Gas sector, it
contracted by 4.7% WTD, and closed the week with value traded at ₦91.0mn and
volume traded amounting to 1.3mn units. This is followed by the Industrial
Goods sector which declined by 3.9%, with volume and value traded closing at
5.8mn units and ₦4.2mn.
Also, the Insurance and Consumer Goods sectors
declined by 2.1% and 0.2% respectively. The volume at the end of the week
traded for both sectors closed at 5.9mn units and 12.0mn units while and value
traded closed at ₦199.7mn and ₦503.9mn respectively.
Furthermore, the local bourse closed at 49,026.62
points as against opening at 49,190.34 points, yielding a lapse in WTD growth
by 91bps or 0.9%. Also, the Month-to-date (MTD) posted red as it declined by
163bps or 1.6%. However, the Year-to-Date (YTD) return of the market gained
14.7% or 1,447bps.
The market's capitalisation closed at ₦26.4 trillion
shedding about ₦241.6 billion. We attribute the loss to investors' selloffs in
the Oil and Gas sector (-4.7%), Industrial Goods sector (-3.9%) and Insurance
sector (-2.1%) and sectors.
Furthermore, the opening and closing values of the
following sectors under our purview; Banking index (379.38open – 382.59close),
Insurance index (175.07open – 174.26close), Consumer Goods index (604.49open –
605.09close), Oil and Gas index (508.32open – 507.25close), and Industrial
Goods index (1,749.55open – 1,721.36close).
Furthermore, the percentage change for these indices
under our purview are Banking and Insurance (+0.3%, -0.3%; +0.2%, +0.2%; +0.5%,
-1.2%; +0.4%, -0.3%; +0.9%, -0.5%), while the others are revealed in the
attached document.
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