Nigeria Market Trends (10th Nov., 2021)

November 10, 2021

The Nigerian Stock Exchange closed the Tuesday trading session of November 9th, 2021, on a positive 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 24 Gainers and 16 Losers in yesterday's session.

The NGX ASI closed at 43,730.55 points, to reflect a gain of 1.12% from the previous trading day gain of 2.93%, Investors gained N252.42billion from Monday trading. At the close of the market on Tuesday 9th of November 2021, the stock exchange Equities gained 1.12% to N22,821.45 billion, the Bond market capitalization remained flat at N19.37 billion. Exchange-Traded Fund (ETF) declined by 0.62% closing at N7.16 billion. The Markets Year-to-Date (YTD) return, however, is currently settled at +8.59%.

MARKET SNAPSHOT
S/n	INDICES	Closing Price	% CHG
1	ALL SHARE INDEX	43,730.550000000000	1.120
3	Equity Cap (N'Tn)	22,821,451,758,653.10	1.120
4	BOND CAP (N'Tn)	19,368,501,943,423.50	0.000
5	ETF CAP (N'Bn)	7,160,327,019.030000	-0.62

TOP GAINERS
S/n	Equity	Closing Price	% CHG
1	ABCTRANS	0.33	10.00
2	FTNCOCOA	0.44	10.000
3	ARDOVA	14.55	7.380
4	UACN	11.25	7.143
5	LIVESTOCK	2.19	6.829

TOP LOSERS
S/n	Equity	Closing Price	% CHG
1	BERGER	8.55	-9.524
2	CAVERTON	1.7	-9.091
3	UPL	2.13	-7.391
4	REGALINS	0.41	-6.818
5	CONOIL	21.7	-5.652

MOST TRADED VOLUME
S/n	Equity	Volume Traded	Value Traded
1	STERLNBANK	83,312,950.00	125,056,019.19
2	UACN	34,207,385.00	360,536,281.95
3	ZENITHBANK	17,477,615.00	427,157,003.15
4	UCAP	17,450,023.00	169,806,595.20
5	ACCESS	15,272,567.00	144,365,524.80

Analyst View
Naira depreciated against the dollar by 0.13% at the official window on Tuesday 9th of November to N415.07/$1 when compared to the previous period rate of N414.55/$1. However, the Naira traded flat against the dollars at the previous 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.

The Foreign exchange declined to close at $41.7 billion as of Friday 5th November 2021.

SOURCE: NGX
IMAGE SOURCE:PIXABAY