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In another negative move, equities trading on the floor of the Nigerian Stock Exchange ended the first trading day of the week in the red, as the lead performance pointer, NSEASI gave up 36pts of its trading points and closed at 37,857.89 from 37,994.19. Safe NGX-Oil & Gas Index that gained, other observed market indices in this report closed below their respective openings. Thus, WtD, the lead index is 36Bpts below opening, while the total lost points in the month of July is now 13Bpts. See the index movement table for details.
As the market entered further into the third quarter of the year, while preparing for the half year earnings numbers, sentiments around the market remained mixed. Please note that the National Bureau of Statistics is expected to release the headline inflation figure for the month of June within this week, according to NBS, this should be expected on Thursday 15th July, 2021. As noted in our previous reports, reactions to the number within the stock market will be mild. Should we go by the numbers release by equities with March accounts, one will expect more positive half year earnings, nevertheless, global economy remained mixed due to varying response to Covid-19 spread, although the trend is mild in the local environment. We maintained a cautious play around the market.
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N71.012 billion, same as 36Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 13 LAGERS. NSEASI Year to Date loss is now 599Bpts while the Market Capitalization Year to Date loss stood at N1.332 trillion same as 633Bpts below the year’s opening value.
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