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Starting up the new week, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 2Bpts of its trading points, and closed at 38,915.62 from 38,921.78. it was a mixed performance amongst the observed market indices in the report, as shown in the index movement table. Thus, Week to Date, the lead index is 2Bpts below opening, while the total lost points in the month September is now 78Bpts. See the index movement table for details.
Having received the outstanding half year numbers, mainly from the financial sub-sector of the market, investors dived the market oars further south. Although performance was mixed, the final destination of the market (measured by the lead index trend) is in the red. As noted in our previous report, we expected a mix performance in the month of September, as the first part of the month may witness weak/negative patronage while the last part may be boosted by third quarter earnings expectations bookings. Please note that the nation’s consumer price index (CPI) and inflation numbers for the month of August will be due for released within the ongoing week. According to the National Bureau of Statistics calendar, it will be due for released this Wednesday, 15th September, 2021. We maintained that, traders should play cautiously around the market arena, meanwhile, all forms of panic investment decision should be strictly avoided.
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N3.209 billion, same as 2Bpts below the opening value. Meanwhile, trading activities for the day produced 18 ADVANCERS and 20 LAGERS. NGXASI Year to Date loss is now 336Bpts while the Market Capitalization Year to Date loss stood at N781.090 billion same as 371Bpts below the year’s opening value.
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