Nigeria Market Trends (16th Sept.2021)

The NGX ASI closed at 38,911.31 points, to reflect a dip of 0.15% from the previous trading day. At the close of the market yesterday, Thursday 16th of September 2021, the stock exchange Equity remained positive with a market value of N20.278 billion while the Bond market capitalization remain unchanged over the last 2 trading days. The Exchange Traded Fund (ETF) Capitalisation was positive growing by o.15%. The Markets Year-to-Date (YTD) return, however, is currently settled at –3.35%.

MARKET SNAPSHOT
S/n	INDICES	Closing Price	CHG	% CHG
1	ALL SHARE INDEX	38,911.31	(57.03)	-0.15
3	Equity Cap (N'Tn)	20,273,426,363,770.10	(29,711,520,494.40)	-0.15
4	BOND CAP (N'Tn)	18,275,512,995,365.30	-	0.00
5	ETF CAP (N'Bn)	11,042,357,210.64	16,753,125.00	0.15

MOST TRADED
S/n	Equity	Prev Price	Closing Price	CHG	% CHG
1	ACCESS	9.3	9.3	0	0.00
2	UNIVINSURE	0.2	0.2	0	0.00
3	ZENITH BANK	23.65	23.65	0	0.00
4	GTCO	27.2	27.05	-0.15	-0.55
5	JAPAULGOLD	0.49	0.5	0.01	2.04

TOP GAINERS
S/n	Equity	Prev Price	Closing Price	CHG	% CHG
1	UNITYBNK	0.52	0.57	0.05	9.615
2	FTNCOCOA	0.46	0.5	0.04	8.696
3	CORNERST	0.48	0.52	0.04	8.333
4	CHAMS	0.2	0.21	0.01	5.000
5	SOVRENINS	0.24	0.25	0.01	4.167

TOP LOSERS
S/n	Equity	Prev Price	Closing Price	CHG	% CHG
1	ETERNA	7.2	6.52	-0.68	-9.444
2	SCOA	1.17	1.06	-0.11	-9.402
3	INTBREW	5	4.8	-0.2	-4.000
4	HONYFLOUR	4.07	3.91	-0.16	-3.931
5	UBN	5	4.85	-0.15	-3.000

Analyst View

Naira appreciated marginally at the official window from its previous rate of N412.08/$1 to a new N411.79/$1 as of Thursday, September 16, 2021 however, the Naira depreciated further at the black market-end of the market to N560/1$ from the previous N557/$1. The Naira will definitely exceed N600/$1 before the end of the year, Nigerians should explore local alternatives as the cost of foreign inputs is now over the roof. The fallen value of the Naira at the black market rides on hoarding and speculative purchases.