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For the third consecutive time in the week, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the lead performance pointer- NSEASI gave up marginal 5Bpts of its trading points, and closed at 38,852.69 from 38,873.85. 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 23Bpts below opening, while the total lost points in the month September is now 94Bpts. 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 negative-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 UBA will be adjusted for 20k interim dividend recently announced within the week (Precisely 24th September). The management of AIICO today informed investor that its board will be meeting to approved its third quarter financial documents on the 21st October, 2021.
The total value loss by the Market Capitalization of the listed equities during today’s trading activities was N11.024 billion, same as 5Bpts below the opening value. Meanwhile, trading activities for the day produced 13 ADVANCERS and 17 LAGERS. NGXASI Year to Date loss is now 352Bpts while the Market Capitalization Year to Date loss stood at N814.240 billion same as 387Bpts below the year’s opening value.
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