As traders slowed down for the next MPC Meeting, equities trading on the floor of the Nigerian Stock Exchange ended in the green territory, as the lead performance pointer, NSEASI added marginal 1Bpt, and closed at 37,952.65 from 37,947.18. Safe NSE-Premium and NSE-Banking Indexes that shed points, other observed market indices in this report closed marginally above their respective opening points. Thus, WtD, the lead index is 1Bpts above opening, while the total gained points in the month of July is now 12Bpts. See the index movement table for details.

According to the national bureau of statistics, Nigeria’s annual inflation rate eased slightly for the 3rd straight month to 17.75% in June of 2021, from 17.93% in May, amid a small slowdown in prices of food & non-alcoholic beverages (21.83% vs 22.28% in May) and despite an official 7.70% naira devaluation in May. On a monthly basis, consumer prices inched up 1.06%, following a 1.01% rise in the previous month. Please note that the market still awaits the MPC meeting for the month of July, scheduled to come up between 27th to 28th July, 2021, the outcome of the meeting and the above stated Headline Inflation numbers are the two key economic numbers in determining investment in the nation’s bourse. We also note that, leading fundamental in the month of August will be the half year earnings release. We are of the opinion that, the banking stocks and few other half year dividend policies should be investors target at the moment.

The total value gained by the Market Capitalization of the listed equities during today’s trading activities was N2.847 billion, same as 1Bpts above the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 10 LAGERS. NSEASI Year to Date loss is now 576Bpts while the Market Capitalization Year to Date loss stood at N1.282 trillion same as 609Bpts below the year’s opening value.

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