Nigeria Market Trends (29th Sept., 2021)

September 30, 2021

The Nigerian Stock Exchange closed the Wednesday trading session of September 29th, 2021, on an exciting positive note, the market bounced back into profits. The Market Indices were affected by mixed investors sentiments due to sell-offs and buy-interests. Market breadth closed with 24 Gainers and 13 Losers in yesterday's session.

The NGX ASI closed at 39,592.29 points, to reflect a gain of 1.89% from the previous trading day loss of -0.01%, Investors gained a huge N382.06 billion. At the close of the market on Wednesday, 29th of September 2021, the stock exchange Equities gained 1.89% to N20.63 billion, the Bond market capitalization notched higher by 0.04% to N18.40 billion. Exchange-Traded Fund (ETF) also got a hit and edged lower by -1.35% bringing the Capitalisation down to N12.012 billion. The Markets Year-to-Date (YTD) return, however, is currently settled at –1.68%.

MARKET SNAPSHOT
S/n	INDICES	Closing Price	% CHG
1	ALL SHARE INDEX	39,592.29	1.89
3	Equity Cap (N'Tn)	20,627,856,001,577.10	1.89
4	BOND CAP (N'Tn)	18,398,534,992,947.90	0.04
5	ETF CAP (N'Bn)	12,012,401,663.97	-1.35

TOP GAINERS
S/n	Equity	Closing Price	% CHG
1	NNFM	8.55	6.875
2	FBNH	8.05	6.623
3	DANGEM	261	6.531
4	NESTLE	1489	6.357
5	COURTVILLE	0.35	6.061

TOP LOSERS
S/n	Equity	Closing Price	% CHG
1	MANSARD	2.43	-10.000
2	JBERGER	24.3	-10.000
3	VANLEER	5.45	-9.917
4	SOVERNINS	0.22	-8.333
5	CHIPLC	0.53	-7.018

MOST TRADED VOLUME
S/n	Equity	Current Volume Traded
1	FBNH	264,689,522.00
2	UNIVINSURE	76,665,712.00
3	MANSARD	13,075,906.00
4	ZENITHBANK	12,114,820.00
5	FIDELITYBK	11,228,840.00

Analyst View

Naira depreciated by 0.06% at the official window from its previous rate of N414.50/$1 to a new N414.73/$1 as of Wednesday, September 29, 2021. The naira loss at the official market continued despite a 266.2% increase in dollar supply. However, the Naira depreciated marginally to N574/1$. 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.

SOURCE: NSE