Equity Market Gain N292.39 Billion, as ASI Closed +1.47%w/w

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GLOBAL MARKET

World stocks fall back, amid U.S strong job report

This week, sell interest returned on global stock under our radar, as we recorded (8) decliner and six (6) advancers, amid strong U.S Job reports and low treasury bond yield.

The report showed U.S Job growth accelerated in June as non-farm payroll increased by 850,000 jobs after rising by 583,000 in May, although the unemployment rate rose to 5.9% from 5.8% the previous month.

GTI COAccordingly, in the U.S, the S&P 500 Index, tech-heavy Nasdaq Composite Index,  and DJIA index all advanced by 1.67%w/w, 1.94%w/w, and 1.02% w/w respectively, despite the spread of the Covid-19 Delta variant cases and concerns over a potential hawkish Fed policy.

Conversely, despite Eurozone, government bond yield continues to plummet, as all the major indices in Europe under our coverage the U.K FTSE 100 and France CAC 40 declined by 0.18%w/w, and 1.06%w/w respectively, save for Germany DAX that gained 0.27%.

Furthermore, the major indices in Asia under our coverage, China Shanghai Composite India S&P BSE Index, Japan Nikkei 225 and Hong-Kong HANG SENG lost 2.46%w/w, 0.83%w/w, 0.97%w/w, and 3.34%w/w respectively.

However, mixed sentiment in the major indices in the emerging market indices under our coverage, as  Brazil’s BOVESPA, and South-Africa FTSE/JSE Index gained 0.29%w/w, and 0.16%w/w respectively, against Egypt EGX 30 and Argentina MERVAL that slumped by 0.22%w/w, and 2.77%w/w.

We expect the global equity market to return mixed in the next trading week in reaction to U.S Job data and the report of the minutes at the last Fed Reserve meeting, as the new Covid-19 Delta variant continues to rise.

EQUITY MARKET

Equity Market Gain N292.39 Billion, as ASI Closed +1.47%w/w

The Nigerian Bourse ended w/w trading activities on a bullish note. as uptick performances were recorded i9n three of the five trading sessions. This was buoyed by buy-interests in large and medium capitalized stocks. Consequently, the Market Indicators (NGX-ASI and NGX Market Capitalization) surged by +1.47% w/w to close this week at 38,212.01 absolute points and N19.92 trillion compared to 37,658.26 absolute points and N19.63 trillion last Friday. This nominally translated to a week-on-week gain of N292.39 billion in Market Capitalization value.

GAINERS 02072021

Consumer Sector recorded the highest percentage gain of +5.14%, followed by Industrial Goods Sector, Insurance Sector, and Banking Sector with percentages of +2.10%, +2.04%, and +1.34% respectively.  While only Oil & Gas Sector closed negatively with a percentage of -1.05%.

IKEJA HOTEL emerged best performing stock this week with a w/w gain of +60.00%, while BOCGAS shed -18.96% to emerge as the top loser.

LOSER 02072021

A total turnover of 1.02 billion shares worth N14.44 billion naira in 17,558 deals was traded this week by investors on the floor of the Nigerian Stock Exchange as against a total of 1.01 billion shares worth N10.33 billion naira in 17,163 deals last week.

Forty-two (42) equities appreciated during the week, higher than Thirty-two (32) equities in the previous week. Twenty-six (26) equities depreciated, lower than Thirty-seven (37) equities in the previous week, while ninety (90) equities remained unchanged lower than ninety-three (93) equities recorded in the previous week.

Outlook

Next week, we expect mixed sentiments, as some companies prepare to release their H1’2021 financial results.

 

NASD OTC

nasdThe NASD Security Index NSI fell by 0.14%, representing 1.08 basic points to closed at 753.73 points against 754.81 points in the previous week. In addition, the NASD OTC Market Capitalisation closed at N535.76 billion for the week.

Total trade activity for the week was valued at N1.06 billion in 172 deals. The most traded stocks on the exchange for the week are, SDNGXGROUP, SDCSCSPLC, SDFCWAMCO, and SDNDEP.

 

FMDQ

WEEKLY MONET MARKET 03072021Money Market

The overnight (O/N) rate decreased by 45.65% w/w this Friday (02/07/2021) to 12.50% when compared to 23.00% last Friday(25/06/2021). Similarly, the open buy-back (OBB) depreciated by 45.45% w/w on Friday (02/07/2021) to 12.00% when compared to 22.00% the previous Friday (25/06/2021).

 

WEEKLY MONEY MARKET 02072021Foreign Exchange Market

At the I&E FX window, the naira appreciated by 0.10%(w/w) to close on Friday (02/07/2021) at ₦411.25 against ₦411.67/USD from last Friday’s position. However, at the BDC, the naira depreciated by 1.01% (w/w) from ₦495.00 (25/06/2021) last Friday to ₦500.00 this Friday (02/07/2021).

 

WEEKLY FOREIGN RESERVE 07022021

Foreign Reserve

The foreign reserve this week weakened by $267.83 million to the level of $33.28 billion (01/07/2021) from $33.55 billion (24/06/2021).

 

WEEKLY OIL PRICE 07202021

Crude Oil

The Brent Crude price appreciated by $0.79/barrel (w/w) to $76.17/barrel this Friday (02/07/2021) as against $75.38/barrel last Friday (25/06/2021), representing a rise of 1.05% (w/w). Similarly, the Bonny Light depreciated by $0.93/barrel (w/w) to $74.16/barrel this Friday (02/07/2021) when compared to $75.09/barrel the previous Friday (25/06/2021), representing an increase of 1.24%(w/w).

Source: GTI Research

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