Nigeria Market Trends (2nd Nov., 2021)

November 2, 2021

The Nigerian Stock Exchange closed the Monday trading session of November 1st, 2021, on a negative note, with some of the measured indices turning red. The Market Indices were affected by mixed investors sentiments due to sell-offs and buy-interests. Market breadth closed with 20 Gainers and 29 Losers in yesterday's session.

The NGX ASI closed at 41,976.79 points, to reflect a loss of 0.15% from the previous trading day gain of 0.18%, Investors loss N32.26 billion. At the close of the market on Monday 1st of November 2021, the stock exchange Equities lost 0.15% to N21.91 billion, the Bond market capitalization also lost 0.05% to N19.35billion. Exchange-Traded Fund (ETF) however gained 3.2% closing at N7.16 billion. The Markets Year-to-Date (YTD) return, however, is currently settled at +4.24%.

MARKET SNAPSHOT
S/n	INDICES	Closing Price	% CHG
1	ALL SHARE INDEX	41,976.79	-0.15
3	Equity Cap (N'Tn)	21,906,224,527,407.80	-0.15
4	BOND CAP (N'Tn)	19,358,993,082,383.70	-0.05
5	ETF CAP (N'Bn)	7,158,769,932.58	3.220

TOP GAINERS
S/n	Equity	Closing Price	% CHG
1	FIDSON	6.17	0.33
2	GUINESS	39.9	9.917
3	SOVERENINS	0.24	9.091
4	AIICO	1.35	8.871
5	REGALINS	0.4	8.108

TOP LOSERS
S/n	Equity	Closing Price	% CHG
1	ETERNA	7.79	-9.942
2	UPDC	1.63	-9.444
3	COURTVILLE	0.4	-9.091
4	OANDO	4.65	-7.921
5	HONYFLOUR	3.32	-7.778

MOST TRADED VOLUME
S/n	Equity	Volume Traded	Value Traded
1	MBENEFIT	52,444,808.00	13,705,497.53
2	UBA	29,277,924.00	250,854,012.65
3	FBNH	27,545,394.00	299,816,409.50
4	AIICO	26,969,797.00	35,812,278.07
5	TRANSCOP	26,180,228.00	27,434,856.85

Analyst View
Naira gained against the dollar by 0.03% at the official window on Monday to N414.98/$1 when compared to the previous period rate of N415.1/$1. However, the Naira slide at the parallel market to the dollar, depreciated by 0.88% to close the day at 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.

The Foreign exchange declined for the first time in 2-months to N41.82 billion as of Monday 1st November 2021.

SOURCE: NGX
IMAGE SOURCE:PIXABAY