EQUITIES MARKET

Negative sentiments persisted in the equities market as investors sold off their positions in OANDO (-9.7%), BUACEMENT (-5.2%) and GTCO (-1.7%). Thus, the All-Share Index declined by 0.79% to 38,484.82 points with YtD loss higher at -4.4%. Activity level strengthened as 259.97mn shares (+9.0%) valued at ₦1.98bn (+5.0%) were traded in 4,975 deals. Top volume performers are OANDO (56.3mn), GTCO (15.3mn) and JAIZBANK (14.9mn). Top traded stocks by value are GTCO (₦444.93mn), OANDO (₦288.50mn) & SEPLAT (₦169.58mn).

SECTORAL PERFORMANCE

Performance across sectors under our coverage was bullish as 4 out of 5 sectors indices advanced. The OIL & GAS (+2.2%) sector closed as the best performing sector for the day followed by INDUSTRIAL (+0.3%) GOODS, BANKING (+0.3%) and CONSUMER (+0.3%) GOODS sectors respectively. Alternatively, the INSURANCE (-0.4%) recorded a loss.

INVESTORS SENTIMENT

Investors sentiment as measured by market breadth was negative(0.8x) as 17 tickers lost, relative to 22 gainers. TRIPPLEG (+10.0%), REGALINS (+9.8%) & CHIPLC (+9.3%) led the gainers. While OANDO (-9.7%), UACN (-8.9%) & LINKASSURE (-7.7%) led the losers.

MARKET INSIGHT AND OPPORTUNITIES

AFRIPRUD Plc released its Q2'21 financial earnings recording a -25.4% decrease in revenue from N1.13bn to N842.88mn. In the same vain, PBT and PAT both decrease by -41.9% and -43.3% from N897.69mn to N521.64mn and N835.04mn to N473.49mn respectively.

FOREIGN EXCHANGE MARKET

NPFMCRFBK Plc released its Q2'21 financial earnings recording a +37.1% increase in Revenue from N2.07bn to N2.84bn. In the same vien, its PBT and PAT both increased by -40.2% from N504.02mn to N706.76mn and N378.01mn to N530.07mn respectively.

MONEY MARKET

The Overnight lending rate and Open Buy Back both depreciated to 11.00% and 10.75% respectively in the absence of high system liquidity.

FIXED INCOME MARKET

Activities in the Fixed Income Market was bullish as average yields in the FGN Bonds and NTB Secondary Market dropped by 3bps and 7bps respectively. While average yield in OMO advanced by 11bps.