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Riding on the wings of few high cap stocks, equities trading on the floor of the Nigerian Stock Exchange ended in the green territory, as the lead performance pointer, NSEASI added 168Bpt, and closed at 38585.52 from 37,952.65. Safe NSE-Insurance Index that shed points, other observed market indices in this report closed above their respective opening points. Thus, WtD, the lead index is 168Bpts above opening, while the total gained points in the month of July is now 179Bpts. See the index movement table for details.
As traders positioned for the interim cash dividend announced Total Nig. Plc, the stock was re-priced up by 10%, similarly, earnings expectations of interim dividend stormed the price of MTNN as it also moved into a new high with over 7% gain; also, the news of Oando concluding its feud with sec is another fundamental news that brightened the market during today’s trading activities. Nevertheless, it is necessary to note that the market still awaits the MPC meeting for the month of July, scheduled to hold between 27th and 28th July, 2021, the outcome of the meeting and the release of half year earnings will determine market direction through the rest of the July, and the better part of the new month. We are of the opinion that, the banking stocks and few other half year dividend policy stocks 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 N329.739 billion, same as 167Bpts above the opening value. Meanwhile, trading activities for the day produced 22 ADVANCERS and 12 LAGERS. NSEASI Year to Date loss is now 418Bpts while the Market Capitalization Year to Date loss stood at N953.143 billion same as 453Bpts below the year’s opening value.
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