Equity Market Closed The Week Positive, As Investors’ Gained N1.41 Billion.

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GLOBAL MARKET

The Bull Reigned Across Global Markets

This week, the bull dominated all of the fourteen global market indices under our coverageGLOBAL MARKET 28082021. The impressive performance was on the sustained confidence level of investors in the stock market due to the Federal Reserve Chairman’s (Jerome Powell) speech about the Central bank’s plans to taper its easy-money policies campaign later this year amidst rising inflation figures.

Consequently, all the major U.S indices under our coverage, DJIA Index, S&P 500 Index, and Nasdaq Composite  Index appreciated by 0.96w/w, 1.52%w/w, and 2.82%w/w respectively.

Also, all the major indices under our coverage in Europe; the France CAC 40, UK FTSE 100, and the German DAX Index increased by 0.84%w/w,  0.85%w/w, and 0.28%w/w respectively.

Also, all the major indices under our coverage in Asia, the Japan Nikkie 225, Hong kong HANG SENG, China Shanghai Composite, and India S&P BSE Index appreciated by 2.32%w/w, 2.25%w/w, 2.77%w/w, and 1.44%w/w respectively,.

Furthermore, all the major indices in the emerging markets under our coverage, South Africa FTSE/JSE, Egypt EGX 30, Argentina Merval Index, and Brazil Bovespa Index increased by 2.48%w/w, 2.93%w/w, 7.93%w/w, and 2.22%w/w respectively.

Outlook

In the coming week, we expect bullish sentiment, as investors continue to react to the news that the monetary rates may change later this year, despite concerns about soaring cases of the Delta Variant Covid-19 around the globe.

 

EQUITY MARKET

NGX

Equity Market Closed The Week Positive, As Investors’ Gained N1.41 Billion.GAINERS 27082021

The Nigerian equity market closed w/w transactions on a positive note. The stellar performance was due to the marginal gains recorded, as the bargain hunters tipped off profit-takers during the week. Consequently, the NGX-ASI appreciated by 0.01% from 39,483.08  points to close at 39,485.65 points. Positive market performance was recorded in three (3) of the five (5) trading sessions.

Investors gained about N1.41 billion, as Market Capitalization. appreciated from N20.571 trillion in the previous week to N20.573 trillion.

At the end of the week, out of the five NGX indices under our coverage, the Insurance Index emerged as the best performer with a w/w gain of +1.06%, followed by Banking Index (+0.30%), and Oil&Gas Index (+0.08%) while negative performances were recorded in Consumer Goods Index (-0.43%), Industrial Goods Index (-0.19%).

According to the NGX Weekly Summary Report, UPDC emerged as the best performing stock for the week with a w/w gain of +37.59%, while ABCTRANS emerged as the worst-performing stock with a w/w loss of -15.38%.

A total of 1.03 million shares worth N8.18 billion in 18,102 deals were traded this week by investors of the Nigerian Exchange Group (NGX), as against a LOSERS 27082021 total of 867 million shares worth N12.257 billion in 17,290 deals last week.

Thirty-five (35) equities appreciated at price during the week, higher than Twenty-one (21) equities in the previous week. Twenty-nine (29) equities depreciated in price, higher than Fifteen (15) equities in the previous week, while ninety-five (95) equities remained unchanged, as against One-hundred and twenty (120) recorded in the previous week.

 

Outlook

Next week, we expect some bullish sentiment to persist amidst profit-taking, as we also look forward to the release of other interim dividend-paying financial institutions’ half-year results. Furthermore, movement in the fixed income market will also influence market sentiment.

NASD OTC

NASD OTC  Rallied 0.04% (w/w) To Close Positive

Transactions on the NASD OTC Security Exchange Market closed on a positive note to halt the previous week’s negative sentiment, as the NASD Security Index NSI appreciated by 0.04%, representing 0.29 basis points to close at  736.38 points against 736.07 points in the previous week. Investors gained N280 million for the week, as the NASD OTC Market Capitalisation closed at N639.77 billion for the week.NASD 27082021 1

Total trading activity for the week was valued at N13.729 million in 129 deals, against N361.168 million in 129 deals recorded in the previous week. The most traded stocks on the exchange for the week are; SDNGXGROUP, and SDCSCSPLC.

Outlook

We expect the NASD OTC Market to trade in a tight range in the coming week.

 

Money MarketWEEKLY MONEY MARKET 27082021

The system liquidity indicators closed higher, as Overnight (O/N) and Open Buy Back (OBB) rates depreciated to 8.50% and 8.33% respectively, from 23.83% and 23.33% in the previous week.

WEEKLY FOREIGN EXCHANGE 27082021Foreign Exchange Market

At the I&E FX window, the Naira depreciated by 0.07%(w/w) to close on Friday (27/08/2021) at ₦412.00/USD against ₦411.71/USD from last Friday’s position. Also, at the BDC, Naira depreciated by 0.58%(w/w) to close on Friday (27/08/2021) at ₦520/USD against ₦517/USD from last Friday’s position.

WEEKLY FOREIGN RESERVE 27082021

Foreign Reserve

The Foreign Reserve increased $292.03 million to the level of $33.57 billion (26/08/2021) from $33.28 billion (19/08/2021).

CRUDE OIL 27082021 Crude Oil

The WTI Crude and Brent Crude price appreciated by $6.60/barrel  (w/w) and $7.52/barrel (w/w)  to $68.74/barrel and $72.70/barrel this Friday (27/08/2021) as against $62.14% and $65.18% last Friday (20/08/2021), representing an increase of 10.62% (w/w) and 11.54% (w/w) respectively. Nigeria’s Bonny Light also increased by $5.31 to $70.02/barrel on Friday (28/08/2021) from $64.71/barrel (20/08/2021), representing a growth of 8.21% (w/w)

 

Source: GTI Research

GTI

GTI is a leading Nigerian Investment Banking group with proven expertise in Financial advisory, Securities Dealing (Fixed Income and Equities), Asset management and Deal Origination. We have strong capacity in financial service delivery.

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