Nigeria Market Trends (22nd Sept. 2021)

September 23, 2021

The Nigerian Stock Exchange closed the Wednesday trading day September 22nd, 2021, in red erasing the previous day's gain. The Market Indices were affected by mixed investors sentiments due to sell-offs and buy-interests, investors lost N11.02 billion as the benchmark All-Share Index (ASI) depreciated by 5 basis points.

The NGX ASI closed at 38,852.69 points, to reflect a dip of 0.05% from the previous trading day. At the close of the market yesterday, Wednesday 21st of September 2021, the stock exchange Equity lost the previous day gain and declined by 0.05% to N20.242 billion, the Bond market capitalization also got a hit deepening by 0.01% to N18.3 billion. However, the Exchange Traded Fund (ETF) Capitalisation was positive growing by a significant 4.36% to N11.8 billion. The Markets Year-to-Date (YTD) return, however, is currently settled at –3.52%.

MARKET SNAPSHOT
S/n	INDICES	Closing Price	% CHG
1	ALL SHARE INDEX	38,852.69	-0.05
3	Equity Cap (N'Tn)	20,242,518,981,939.70	-0.05
4	BOND CAP (N'Tn)	18,275,618,357,593.40	-0.01
5	ETF CAP (N'Bn)	11,806,520,414.72	4.360

TOP GAINERS
S/n	Equity	Previous Price	Closing Price	CHG	% CHG
1	TRANSCOHOT	4.500	4.950	0.45	10.000
2	PHARMADEKO	1.620	1.780	0.16	9.8770
3	CONOIL	23.25	24.55	1.30	5.5910
4	CORNERST	0.490	0.530	0.04	8.1630
5	NEM	1.900	2.000	0.10	5.2630

TOP LOSERS
S/n	Equity	Previous Price	Closing Price	CHG	% CHG
1	VERITASKAP	0.23	0.21	-0.02	-8.6960
2	UCAP	9.99	8.55	-1.44	-14.414
3	CHAMS	0.22	0.21	-0.01	-4.5450
4	ACCESS	8.90	8.60	-0.30	-3.3710
5	JAPAULGOLD	0.47	0.46	-0.01	-2.1280

MOST TRADED VOLUME
S/n	Equity	Volume Traded
1	UNIVINSURE	19,040,500.00
2	UBA	18,778,552.00
3	ZENITHBANK	11,757,422.00
4	GTCO	10,015,581.00
5	UCAP	8,519,588.000

Analyst View

Naira appreciated marginally at the official window from its previous rate of N413.28/$1 to a new N413.18/$1 as of Wednesday, September 22, 2021 however, the Naira appreciated further at the black market-end of the market to N572/1$ from the previous N575/$1. The Naira is 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.