STOCK MARKET PERFORMANCE

After the waned half-year (H1) earnings season ushered in the bears on the Nigerian Exchange, stock buyers focus has now shifted to the third-quarter (Q3) financials results of listed companies expected to be released on the Bourse next month –hopefully the result will serve as a positive trigger.

Already, some companies have started notifying the investing public of their closed period –which is the time between the completion of their financial results and the announcing of these results to the public.

In compliance with the post-listing rules of the Nigerian Exchange Limited, Living Trust Mortgage Bank Plc has issued notice of the commencement of Closed Period and Board of Directors meeting. Other companies that have issued notices of their closed period are: Fidelity Bank Plc, Nigerian Breweries Plc and Guinness Nigeria Plc.

During the closed period, insiders are prohibited from trading the company shares or making any relevant information public before it is officially announced. During this period, insiders and /or person(s) connected to them and such other interested parties who have regular access to their financial information or other sensitive information which may materially affect the price of the companies’ securities are expected to observe the earnings-related closed trading period by not buying or selling the shares.

In the trading ended Friday September 24, that are trading at new lows.

“Looking ahead, it is expected that the market will remain in a lull, with occasional bargain hunting until 9M-2021 results are released,” research analysts at Lagos-based United Capital said in their recent investment view for the week to October 1.

“They however expect this to influence demand for equities this week, especially as bond yields in the Naira market have moved slightly downwards recently,” according to Meristem Research analysts in their September 27 note to investors. While Meristem notes that prices are currently attractive, but in the absence of significant positive triggers to drive buying interests, they expect the market to close the week in the red.

STOCK MARKET PERFORMANCE