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In another round of negative performance, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer, NSEASI gave up 11pts of its trading points and closed at 37,804.46 from 37,847.07. It was a mixed performance amongst the observed market indices in this report. Thus, WtD, the lead index is 218Bpts below the opening point, while the total lost points in the month of June is now 165Bpts. See the index movement table for details.
Although with a reduced momentum, the Lead Index of the Nigerian Stock Market recorded another round of negative performance. Confirming the strength of negative sentiments around the market during today’s trade is the widened decliners’ log as against the advancers’ log. We are of the opinion that the drops experienced in recent times will dragged some equities to an attractive points, thus, driving the general market trend through the positive path once again. Please understand that major upcoming events in the market includes; the released of March full year accounts, followed by December half year earnings. We observed that most active stocks’ earnings improved after Covid-19 outbreak. The improved performance could be linked to the various safe landing approaches introduced by the Central Bank of Nigeria. Oil price had also maintained the range of 73bpd-75bpd. This is a plus to the 2021 budget benchmark price. Nevertheless, we recommend heightened cautiousness around the market arena.
The total value lost by the Market Capitalization of the listed equities during today’s trading activities was N22.207 billion, same as 11Bpts below the opening value. Meanwhile, trading activities for the day produced 11 ADVANCERS and 23 LAGERS. NSEASI Year to Date loss is now 612Bpts while the Market Capitalization Year to Date loss stood at N1.353 trillion same as 643Bpts below the year’s opening value.
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