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    Domestic equity market dips 253bps

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    Today, the local bourse posted negative following a decline of 253bps as the NGX benchmark index closed at 46,365.95 points. Consequently, the Year-to-date (YTD) return of the market weakened to 8.5% from 11.4% the previous trading day.

    Top gainers in the market were led by PZ (+9.5%), UPL (+9.3%) and COURTVILLE (+4.3%), while AIRTELAFRI (-10.0%), SOVRENINS (-7.1%) and AIICO (-7.0%) posted as today’s top losers.

    The total volume traded and value traded gained 10.8% and 1.0% respectively to 137.8mn units and ₦4.3bn. GTCO, COURTVILLE and FIDELITYBK led the volume chart with 33.7mn units, 26.1mn units and 19.9mn units respectively. On the other hand, AIRTELAFRI, SEPLAT and GTCO led the value chart with ₦1.7bn, ₦825.7mn and ₦609.9mn respectively.

    On the sectoral breakdown, performance was mixed as two indices closed in red, one index closed in green, while the Industrial and Oil and Gas indices closed on a marginal note.

    The Insurance and Consumer Goods indices declined by 120bps and 10bps respectively. The losses were attributed to SOVRENINS (-7.1%) and DANGSUGAR (-2.8%). Meanwhile, the Banking index gained 90bps, accredited to buyers’ interest in UNITYBNK (+2.3%).

    Quick Insight (Today’s top gainer)

    Source: BRIU
    At the end of its fiscal year 2021, PZ Cussons’ total assets stood at ₦87.3 billion, while its total liabilities were ₦52.8 billion, resulting in a debt ratio of 0.6.

    Total assets increased by 12% year-on-year, up from ₦78.0 billion in 2020. Total liabilities also increased year-on-year by 18%, up from ₦44.7 billion in 2020 to ₦52.8 billion in 2021.

    PZ Cussons’ debt ratio averaged 0.5 in previous years under our coverage, indicating a slight mismanagement in the repayment of its liabilities.

    Daily Currency Update
    On daily currency updates, I&E and the parallel market’s prices closed at ₦441.38/US$1.00 and ₦742/US$1.00 respectively. The current P2P Forex market price is ₦743.00/US$1.00. Nigeria’s external reserves is currently US$37.91bn.

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