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Reversing the previous day’s gain, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 15Bpts of its trading points, and closed at 38,911.31 from 38,968.34. Safe NSE-Insurance Index that gained, other observed market indices in this report closed below their respective opening points. Thus, Week to Date, the lead index is 3Bpts below opening, while the total lost points in the month September is now 79Bpts. See the index movement table for details.
Having received the various expected half year numbers/interim cash dividends, the market seems to be favouring the bearish side the more. Recall that the national bureau of Statistics already released a reducing Headline Inflation figure, which is a plus to the market fundamental. The Monetary Policy Committee also resumed its September rescheduled meeting today 16th September, 2021. The outcome of the meeting will further enhanced market fundamentals when released tomorrow. In our opinion, we expect the committee to leave all rates unchanged. Please note that, positioning for the third quarter earnings is expected to commence from next week and should last through the rest of September. Please trade accordingly.
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N29.711 billion, same as 15Bpts below the opening value. Meanwhile, trading activities for the day produced 10 ADVANCERS and 17 LAGERS. NGXASI Year to Date loss is now 338Bpts while the Market Capitalization Year to Date loss stood at N783.333 billion same as 372Bpts below the year’s opening value.
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