Extending bearishness to the fourth day within the week, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 30Bpts of its trading points and closed at 38,328.13 from 38,445.09. It was a mixed performance amongst the observed market indices in this report. Thus, WtD the lead index is 292Bpts below the opening point, while the total lost points in the month of May is now 378Bpts. See the index movement table for details.

Activities on the floor of the Nigerian Stock Exchange maintained bearish path despite the adjusted inflation figure released recently. Please understand that in the absence of earnings, the market will trend largely by economic indicators direction, and since the nation awaits the release of key economic indicators next week, most traders now smartly play safe. Recall that we noted in our previous reports that the 279th MPC Meeting will commence next week between; 24th–25th May, 2021. Also, the National Bureau of Statistics is set to release the nation’s Gross Domestic Product by output on the 24th May, 2021, just as MPC Meeting takes off. Undoubtedly, these two events will chiefly dictate market trend for the rest of the second quarter. On the strength of the above, we maintained that traders should play safe, only sound fundamental based equities with standing interim dividend policy should be considered until the coast is clear.

The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N60.962 billion, same as 30Bpts below the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 19 LAGERS. NSEASI Year to Date loss is now 482Bpts while the Market Capitalization Year to Date loss stood at N1.079 trillion same as 513Bpts below the year’s opening value.

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