"Nigeria: Market begins new week on a bullish note"

" Nigeria: Market begins new week on a bullish note \r\n The domestic equity market\u00a0began\u00a0the new trading week with a gain of 0.2%\u00a0to close at 44,461.63\u00a0points. Accordingly,\u00a0the Year-to-date (YTD) return of the market\u00a0strengthened\u00a0to 4.1% from 3.9%\u00a0the previous trading\u00a0day. \r\nTop gainers in the market were\u00a0led by\u00a0 REDSTAREX \u00a0(+8.2%),\u00a0 BETAGLAS \u00a0(+5.9%) and \u00a0WAPIC\u00a0 (+5.9%), while\u00a0 UNILEVER \u00a0(-10.0%),\u00a0 NEM \u00a0(-9.5%) and\u00a0 LASACO \u00a0(-4.6%) posted\u00a0as today's top losers.\r\n\r\nFor today's trading activities, the total volume traded declined by 23.9% to 72.3mn units, while total\u00a0value traded gained 15.1% to \u20a62.2bn.\u00a0 TRANSCORP ,\u00a0 NGXGROUP \u00a0and\u00a0 GTCO \u00a0led the volume chart with 11.3mn units, 5.6mn units and 5.2mn units respectively. However, \u00a0AIRTELAFRI ,\u00a0 NGXGROUP\u00a0 and\u00a0 GTCO \u00a0led the value chart with\u00a0\u20a61.5bn,\u00a0\u20a6120.1mn and\u00a0\u20a697.3mn respectively.\r\n\r\nFor indices under our purview, performance was majorly\u00a0bearish as four indices closed in red, save the Industrial Goods index which closed in green.\r\n\r\nPerformance indicates that the Insurance index led the\u00a0losers with 160bps, followed by the Oil and Gas, Banking and Consumer Goods indices which declined by 38bps, 37bps and 28bps\u00a0respectively. The losses were as a result of investors' selloffs in\u00a0 NEM \u00a0(-9.5%),\u00a0 OANDO \u00a0(-3.1%),\u00a0 STERLNBANK\u00a0 (-3.8%) and\u00a0 VITAFOAM \u00a0(-10.0%)\u00a0accordingly.\u00a0However, the Industrial\u00a0Goods index emerged as the sole gainer with 22bps. The gain was accredited to\u00a0 BETAGLAS \u00a0(+5.9%).\r\n\r\n Quick Insight\u00a0 (Today's top gainer) \r\n\r\n<img class=\"CToWUd a6T\" tabindex=\"0\" src=\"https:\/\/ci6.googleusercontent.com\/proxy\/9CcPK6JlDQh1uW9sOyQLlIheC7WKhOXQ_K08B4GU1elnVLpuGhpYs9d7Fznb-al7DD8BmTv4LuvAnHWUeUlM4cZbpoIxtUXProLyy2Ye5nqpoa60ZojX43wtiubeLEQNOh_vyz42QTRXkIQYTTGnXujb2uisHA=s0-d-e1-ft#https:\/\/mcusercontent.com\/819805e7907450ddc8e7c19f7\/images\/18ab3538-2ad6-de09-72bd-37275f182cf6.png\" width=\"648\" height=\"325\" data-bit=\"iit\" \/>\r\n Source: BRIU \r\nRed Star Express, the only indigenous logistics company listed on the Nigerian Exchange Limited (NGX), announced its intention to continue investing in the future and set new standards for innovation and technological growth.\r\n\r\nThe company\u2019s total assets increased to \u20a62.3 trillion in 2021, up from \u20a62.0 trillion in 2020, representing 18.3% year-on-year increase. Total liabilities increased by 24.5% to \u20a61.4 trillion in the same period under review, up from \u20a61.1 trillion in 2020.\r\n\r\nFor the fiscal year ended 2019, total asset value of the company was \u20a61.7 trillion, up 2.8% from \u20a61.6 trillion in 2018. Meanwhile, total liabilities increased by 19.3% in 2019 to \u20a6844.5 billion from \u20a6707.9 billion in 2018.\r\n\r\n Daily\u00a0Currency Update \r\n On daily currency updates, I&E\u00a0and the parallel market's prices closed at \u20a6441.67\/US$1.00 and \u20a6765\/US$1.00\u00a0respectively. The current P2P Forex market price is \u20a6757.60\/US$1.00. Nigeria's external reserves is currently US$37.68bn. "

"Nigeria: Market begins new week on a bullish note"

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