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Taking another positive move, equities trading on the floor of the Nigerian Stock Exchange ended in the positive territory, as the lead performance pointer, NSEASI added 54pts to its trading points and closed at 38,418.04 from 38,220.01. Safe NGX-INSURNACE that shed points, other observed market indices in this report gained. Thus, WtD, the lead index is 54Bpts above the opening point, while the total gained points in the month of July is now 135Bpts. See the index movement table for details.
At the end of today’s trading activities, the lead index had recorded five (5) consecutive positive days in six trading days, it closed flat four trading days prior. The positive sentiments have been backed up with good numbers of listed equities joining the advancers’ log. As noted above the few trading days observed so far in the month of July gave more support to the bullish investors, note that, we expect profit taking activities anytime within the week. Also understand that, leading investment basis within the month of July is the expectation of half year earnings from listed equities operating December financial year and full year from April accounts. It is also necessary to note that, the National Bureau of Statistics will be releasing the June Headline Inflation figure on the 15th July, 2021. The price of Crude Oil trades around 74.21$/bbl, at least as at the time this report was compiled. In our opinion, the effect of economic numbers on market performance will be minimal, both in July and August, since it will be the pick of earnings season.
The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N103.226 billion, same as 52Bpts above the opening value. Meanwhile, trading activities for the day produced 28 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 460Bpts while the Market Capitalization Year to Date loss stood at N1.030 trillion same as 489Bpts below the year’s opening value.
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