Nigeria Market Trends (28th Oct., 2021)

October 28, 2021

The Nigerian Stock Exchange closed the Wednesday trading session of October 26th, 2021, in a bearish mood. The Market Indices were affected by mixed investors sentiments due to sell-offs and buy-interests. Market breadth closed with 23 Gainers and 14 Losers in yesterday's session.

The NGX ASI closed at 41,789.59 points, to reflect a loss of 0.06% from the previous trading day's flat position. At the close of the market on Wednesday, 27th of October 2021, investors lost N12.88 billion, the stock exchange Equities dipped by 0.06% to N21.88 billion, the Bond market capitalization also declined by 0.02% to close at N19.42 billion. Exchange-Traded Fund (ETF) also declined by 0.45% closing at N6.85 billion. The Markets Year-to-Date (YTD) return, however, is currently settled at +3.77%.

MARKET SNAPSHOT
S/n	INDICES	Closing Price	% CHG
1	ALL SHARE INDEX	41,789.59	-0.06
3	Equity Cap (N'Tn)	21,808,533,086,103.80	-0.06
4	BOND CAP (N'Tn)	19,142,495,243,441.30	-0.02
5	ETF CAP (N'Bn)	6,850,914,627.06	-0.45

TOP GAINERS
S/n	Equity	Closing Price	% CHG
1	LIVINGTRUST	0.8	9.59
2	AIICO	1.03	9.574
3	UPL	1.8	9.091
4	REDSTAREX	3.4	6.250
5	TOTAL	220	5.973

TOP LOSERS
S/n	Equity	Closing Price	% CHG
1	GLAXOSMITH	6.3	-10.000
2	TRANSCOHOT	5.38	-9.883
3	FBNH	11.65	-6.048
4	VERITASKAP	0.22	-4.348
5	AFRIPRUD	6.1	-3.937

MOST TRADED VOLUME
S/n	Equity	Volume Traded	Value Traded
1	FBNH	75,458,656.00	898,012,945.70
2	AIICO	18,418,170.00	17,809,728.91
3	ETI	17,320,235.00	137,321,766.75
4	TRANSCOP	15,207,489.00	15,492,407.42
5	FIDELITY	14,029,439.00	38,524,667.95

Analyst View
Naira appreciated marginally against the US dollar by 0.01% at the Wednesday trading session to N415.07/$1 when compared to the previous rate of N415.10/$1. The Naira traded stable and was flat at the parallel market maintaining an exchange rate of N570/1$.The Naira is significantly trailing the Dollar by a wide margin most likely to slide against the USD in days to come as the financial market is still troubled and Nigeria has little or no local alternatives to many imported items. The fallen value of the Naira at the black market rides on hoarding and speculative purchases. However, the recently raised Eurobonds may likely moderate the sliding effect.