June 15, 2021 – Transactions on Local Bourse closed today (Tuesday) on a bearish note. The negative performance was a result of investor’s profit-taking sentiments in recently appreciated bellwether stocks like AIRTELAFRICA, OKOMUOIL, and 24 others, as inflation declines for the second consecutive month to 17.93% in May.
Consequently, the market capitalization declined by 1.66% while the NGX-ASI reduced by 1.67%. However, the market breadth closed positively recording 26 gainers against 19 losers.

In summary, the All-Share Index (ASI) dropped by 648.99 absolute points, representing a decline of 1.66% to close at 38,507.29 points. However, the overall Market Capitalization value shed N339.85 billion, representing a decrease of 1.67%.

The discrepancy between the NGX-ASI and the market capitalization was a result of the delisting of four companies, namely: Evans Medical Plc, Nigerian-German Plc, Roads Nigeria Plc, Unic Diversified Holdings Plc to close at N20.07trillion.

CWG emerged as the top gainer (by percentage points) for today, with a maximum price appreciation of +9.73%, while AIRTELAFRICA emerged as a top loser (by percentage points) with a maximum price depreciation of -10.00%.

Today’s market downturn was driven by price depreciation in large and medium capitalized stocks amongst which are; AIRTELAFRICA(-10.00), OKOMUOIL(-9.44%), AFRIPRUD(-8.33%), PZ(-3.33%), PRESCO(-2.50%), STANBIC(-2.44%), UACN(-2.06%), GUARANTY(-1.38%), TRANSCORP(-1.11%), FLOURMILLS(-1.00%), FCMB(-0.96%), UBA(-0.70%), VITAFOAM(-0.42%), NASSCON(-0.34%), DANGSUGAR(-0.28%), and GUINNESS(-0.17%).

FOREIGN EXCHANGE
The Investors and Exporters (I&E) FX window opened at N411.46, traded high at N430.00, traded low at N400.00, and eventually closed at N411.75, depreciating by 0.23% against Friday’s closing position.

SOURCE:https://brandspurng.com/2021/06/16/consumer-goods-equity-market-inflation/