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In another negative drive, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up 8Bpts of its trading points, and closed at 38,873.85 from 38,906.42. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead index is 18Bpts below opening, while the total lost points in the month September is now 88Bpts. See the index movement table for details.
According to the National Bureau of Statistics, the Headline Inflation dropped for the fifth consecutive time in August, 2021. Also, the Central Bank of Nigeria, through its Monetary Policy Committee, voted to keep all rates unchanged in its September meeting. This was a move taken by the group to ensure relatively low cost of funds, needed to support the economy. But despite these positive moves, trading activities on the floor of the exchange had maintained a side-way trend. Although good numbers of expected earnings had been received till date, we are of the opinion that positions for third quarter earnings should commence any moment from now. Please understand that Stanbic-IBTC was today adjusted for N1.00 dividend while UBA will be adjusted for 20k interim dividend recently announced within the week (Precisely 24th September).
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N16.970 billion, same as 8Bpts below the opening value. Meanwhile, trading activities for the day produced 16 ADVANCERS and 13 LAGERS. NGXASI Year to Date loss is now 347Bpts while the Market Capitalization Year to Date loss stood at N803.216 billion same as 381Bpts below the year’s opening value.
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