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EXECUTIVE BREAKFAST MARKET SESSION 24TH AUGUST, 2026 — Transcript

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0:08Parents, if you're looking for a
0:10meaningful and exciting way to keep your
0:12children engaged this holiday period,
0:14then this is for you. Lead Capital is
0:16bringing back the Link Kid summer 2.0
0:19and trust me this time around is going
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0:2327th, [music] we'll be meeting virtually
0:26where kids will happen. le interactive
0:28section designed to build confidence,
0:31creativity, [music] and financial
0:32awareness. Head of August, we will wrap
0:34it all up with an engaging physical
0:37event where there [music] will be a lot
0:38of fun, activities, games, networking,
0:41and goodies to take home. This is more
0:43than just an all day program. It's an
0:45opportunity for your child to learn,
0:47connect, [music]
0:48and create unforgettable memories your
0:50child miss out. Register today for Lead
0:53Kid Summer 2.0. We can't wait to have
0:55them.
0:57[music]
1:00Hi, I have a good news to share. The Le
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1:09As parents, we invest in many things in
1:13our businesses, our homes, and our
1:15future. But have you ever thought about
1:17the biggest investment you could ever
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1:222.0, zero. We are helping children build
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1:45wish they had learned earlier. Give your
1:47child the knowledge to grow into a
1:49financially confident future. Register
1:52today for Lead Kids Summer 2.0. To
1:58parents, if you're looking for a
1:59meaningful and exciting way to keep your
2:02children engaged this holiday [music]
2:03period, then this is for you. Lead
2:05Capital is bringing back the Link Kid
2:07summer 2.0. And trust me, this time
2:10around is going to be bigger and better.
2:12August 21st to 27th, we'll be meeting
2:14virtually [music] where kids will have
2:16fun. le interactive section designed to
2:19build confidence, creativity, [music]
2:21and financial awareness. Head of August,
2:23we will wrap it all up with an engaging
2:26physical event where there will be a lot
2:28of fun, [music] activities, games,
2:30networking, and goodies to take home.
2:32This is more than just an all day
2:34program. It's an opportunity for your
2:36child to learn, connect, and create
2:38unforgettable memories. Your child miss
2:40out. Register today for Lead Kid Summer
2:432.0. We can't wait to have them.
2:49Hi, I have a good news to share. The le
2:532.0 is here. Dr.
2:59As parents, we invest in many things in
3:02our [music] businesses, our homes, and
3:04our future. But have you ever thought
3:06about the biggest investment you could
3:08ever make is your child. At Le Kids
3:10Summer 2.0, zero. We are helping
3:13children build a very strong foundation
3:15in financial literacy. They will learn
3:17the value of money, the importance of
3:20savings and the basics of investing and
3:24decision taking today can help them get
3:26a brighter tomorrow. This isn't just a
3:28summer program. This is an opportunity
3:30for you to equip your child to learn a
3:33life skill that many adults wish they
3:35had learned earlier. Give your child the
3:37knowledge to grow into a financially
3:39confident future. Register today for
3:42Lead Kids Summer 2.0. To
3:47parents, if you're looking for a
3:49meaningful and exciting way to keep your
3:51children engaged this holiday period,
3:53then this is for you. Lead Capital is
3:55bringing back the Le Kid summer 2.0. And
3:58trust me, this time around is going to
4:00be bigger and better. August 24th to
4:0227th we'll be meeting virtually where
4:05kids [music] will have fun learn
4:06interactive section designed to build
4:09confidence creativity [music]
4:10and financial awareness of August we
4:13will wrap it all up with an engaging
4:15physical [music] event where there will
4:17be a lot of fun activities games
4:19networking and goodies to take home this
4:22is more than just an all day program
4:24it's an opportunity for your child to
4:25learn connect and create unforgettable
4:28memories your child miss out register
4:30Start today for Le Kid summer 2.0. We
4:33can't wait to have them.
4:57Mr. I will enter the company
4:59presentation.
5:02>> Good morning investor is always always a
5:05pleasure to have you join us on this
5:07call. I am Linda Audag and with me is
5:11Samuel. I'll be taking us through the
5:14equities market review and uh yes for
5:19the week uh ended.
5:23>> So last week we saw a consistent
5:25downward trend across both the NGS or
5:28index and the NGX30 through the trading
5:32week. The NG athletic opened the period
5:35u near a 251,500
5:38level and steady um steadily decline
5:42each session closing the week around
5:44240,000
5:46um points while looking at the ASI
5:49mirroring the NGS30 trajectory uh the
5:51ASI fell approximately from 242,500
5:58uh at the start of the period to roughly
6:01239,000 300 by Friday's close. The
6:06synchronized decline across both broad
6:08market and top 30 indices indicate
6:11widespread bearish sentiment and
6:13sustained selling pressure across major
6:17market capitalization through out the
6:20week.
6:23Uh looking at the chart, the monthto
6:25date um chart August 2026 highlight a
6:29strong midmon sell off uh that shifted
6:31the Oshare index from nearly um from
6:35early months peak down to its current
6:38monthtoate low. Looking at the
6:41monthtoate performance metrics um
6:43current levels at um 240,196
6:48240,196.64
6:5164 points. August 10 witnessed a peak
6:55level recording a month to date with
6:58high near 240,000 following a sharp
7:01midmon rally. Um August 11th to 18 we
7:06saw midmon retrenchment as severe
7:09selling pressure broke key shortterm
7:12supports dropping the index past 244,000
7:16down to 241,500.
7:20um area Friday the current floor uh
7:24showed downward drive bottom out just
7:28below 240,000
7:30with the index currently consolidating
7:32along the 240,196.67
7:3667 B line. Uh the rapid distribution uh
7:42seen between August 10 and August 18
7:44wipe out early month gains while the
7:47aggressive selloff um has stored right
7:50around the 240,000 support mark and the
7:53market lacks immediate buying volume to
7:55drive a quick recovery. Tactically uh
7:59position should remain cautious until a
8:02clear reversal pattern forms above the
8:05current level. So very quickly looking
8:09at the year to date chart uh the
8:12performance metrics current index level
8:15stands at 240,196.64
8:19between January to May 2026. the
8:22halfyear bullish expansion and the
8:24market experienced strong consistent
8:27upward momentum starting around the year
8:31with 140,000 level in January peaking
8:35above 250,000 points in late May and
8:39early June. June to July uh was a peak
8:42and correction phase after reaching its
8:45yeartoate high. profit taking triggered
8:47a correction pullback down to 230,000
8:52um support level in July. Between July
8:56to August was the consolidation phase.
8:59There the index rebounded off support
9:01and has since stabilized moving sideways
9:04around the key 240,000 baseline uh in
9:08recent weeks.
9:11While the market retain uh substantial
9:14net gains yet again uh momentum has
9:16shifted from rapid growth to range
9:19bounding trading. The current horizontal
9:23consolidation at the 240,000 levels uh
9:27serves as a critical equilibrium point.
9:29A sustained hold above the line suggests
9:32potential for another upward uh leg
9:35whereas a break below may require
9:37defensive risk management strategy. So
9:42very quickly we'll be looking at the
9:43distribution table.
9:45Uh the sectoral breakdown of volume
9:47traded for the week ended August 21st uh
9:51reveals a heavily concentrated market
9:54structure dominated almost entirely by
9:57the financial service sector. So the
9:59market liquidity um concentration was
10:01actually 90% of the total equity trading
10:04volume as it was driven by the financial
10:06service sector confirming that broader
10:08market liquidity and sentiment are
10:10currently tied to banking and financial
10:14institution
10:16non-financial sector which include um
10:18the ICT accounted for 2% the service
10:21sector accounted for 2% as well and
10:24other sector combined that include the
10:26conglomerate among others accounted for
10:296%.
10:33So quickly looking at um the market
10:36indicator, the all share index closed
10:38around 239,351.16
10:43points representing a week-to-ate uh
10:45decline of 1.35%
10:49from the previous week. Looking at the
10:53year-to- date growth, uh we're currently
10:55at um the positive of 53.81%. 8 1% year
10:58to date as the market opened the year
11:00around a 155,613.03
11:04points.
11:06Looking at the trading um traded volume
11:08and um turnover, uh total weekly market
11:12turnover stood at 6.24 billion shares
11:15valued at 157.7 billion, a decrease from
11:19the 12.15 billion shares worth 176.06 06
11:24billion traded in the previous week. The
11:28financial service sector led the market
11:29activity recording uh 5.59 billion um
11:33traded shares valued at 56.43.
11:37The sector accounted for 89.62%
11:40of the total volume and 35.77%
11:45of the total market value. The ICT as
11:49mentioned earlier followed in the second
11:51place with 143.7
11:54million shares traded at 29.79
11:58billion.
12:00Service uh service sector ranked third
12:03place reporting a turnover of 138.67
12:07million shares worth 1.75
12:10billion. The total um top traded
12:14equities uh in volume uh was heavily
12:17concentrated in uh photos global
12:20insurance lasso assurance and
12:23consolidated hallmark. Together these
12:25equities accounted for 4.17 billion
12:28shares valued at 9.25
12:32billion contributing a total of 66.77%
12:37to the total market turnover volume and
12:405.8 86 uh to the overall market value.
12:45Sectoral performance five out of the
12:47sectoral performance covered by the lead
12:49capital group uh two sector closing
12:52flats uh were actually the consumer the
12:56consumer closed um positive with uh
12:590.05%
13:01while it's yet to date currently stand
13:03at 1.62%.
13:05industrial as well the yeartoday stands
13:07at 8 82.84%
13:12while the banking the insurance and the
13:15oil and gas uh close on a negative
13:20terrain. Now looking at the investor
13:22stock stock picks for the week uh where
13:26we have um we have carefully created for
13:29success. We have identified the short
13:32market opportunities designed to build
13:34of course sustainable we approach
13:36focuses on three core pillars and that
13:40include quality stocks assets with
13:43strong fundamentals strong brand market
13:46leaders with proven record greater
13:49opportunities that sectors poised to
13:52immediate longterm growth under which we
13:56have the Aradel the USN the Dangot
14:00cement
14:00the MTN, GTB, Senate among others. So,
14:06quickly looking at our weekly
14:08recommendation, our analysts have
14:10meticulously categorize the top equities
14:13to help you actively manage your wealth.
14:18Uh for that, we have the buy, the hold,
14:21and the selloffs. We have identified
14:23opportunities. Focus on robust brands
14:27with high growth potential. maintain
14:30stability that hold assets showing
14:32stable
14:34and enduring performance looking at
14:37mitigating your risk. Uh diverse from
14:39positions exhibiting weak fundamentals.
14:43So we have our um weekly recommendation
14:46carefully curated to take care of your
14:49buy, your hold and your sell option. Now
14:53very quickly looking at the weekly stock
14:55recommendation for the week. This is
14:57just an extraction from the exact from
15:00the from the general list that has been
15:02sent to our emails. Uh so I implore all
15:05of you to look at your emails and you
15:08know reach out to your ROM if you need
15:10further clarification and you know
15:14updates on how to go about it. So
15:15quickly our expectation for the new
15:17week. Last week the Nigeria stock market
15:19ended in the positive territory after
15:22second consecutive week.
15:25This debate investors cautious approach
15:28to investing activities due to major
15:30upcoming uh economic and political
15:34events.
15:35Firstly, investors appear to be
15:37positioning for the upcoming Dangote
15:39prochemical which is expected to open in
15:43the new in few weeks.
15:46Secondly, the gearing up of the
15:48political activity ahead of the 2027
15:51general election also calls for cautious
15:54trading approach on the part of
15:57investors. This week, we expect the
15:59market to trade sideways as investors
16:01continue to cherrypick stocks with good
16:05fundamentals while cautious of the
16:07affforementioned factors. We also
16:10predict that the NGS all share index
16:12will likely close between 240,000 and
16:15243,000
16:17points. We encourage all our lead
16:19investors to download our general
16:22outlook recommendation and money insight
16:25for this investment decision. With this
16:28we come to the end of the equities
16:30market review session. Uh we I'll be
16:34leaving you in the hands of Mr. Samuel
16:38as he takes us through the um the income
16:41suites.
16:43>> So thank you so much uh for uh the very
16:47robust uh presentation of the equities
16:49market and uh I strongly believe that
16:51every investor who has taken is our time
16:54to look to to listen through uh the
16:56presentation clearly have
16:59taken one or two uh insights from uh
17:02from the entire presentation. you know
17:04at Lead Capital PLC one of the things we
17:06pride in or we pride on is uh ensuring
17:09that our clients get the best in terms
17:12of uh in terms of market and then
17:15understanding how to position for the
17:17week ahead and so very quickly we'll
17:19look through the happening at at the
17:21fixed income market as we believe that
17:24uh the the market isn't one-sided you
17:27know it's something we need to look at
17:28both both se both segments of the market
17:31and having gone through the equities
17:32market Now it's time for the fixed
17:33income market. Uh beginning very quickly
17:35we'll look at the money market uh space
17:38and of course the funding rate uh to to
17:40begin with. Uh starting uh with with the
17:44funding rates we saw that the funding
17:45rates remain stable at 22% for the open
17:49report rate and then we saw the
17:50overnight rates uh edges slightly higher
17:54uh to close at 22.25%.
17:57And one thing we we've always stated
17:59here week in week out is the fact that
18:02when we see liquidity in the market and
18:04then we see the market at wash with
18:06excess funds that definitely affects
18:09liquidity levels in the system and that
18:11was what we saw last week system
18:13liquidity settled at 4.47 47 trillion
18:15naira and that was no surprise to us
18:18because last week we had settlement
18:20auctions. Last week we also had some
18:23coupon payment inflows into the system
18:26uh which made the system closed at 4.47
18:28trillion sorry which made system
18:30liquidity close at 4.47 47 trillion
18:32naira uh visa reach 3.37
18:35that we saw the previous week and uh
18:38that that largely influenc the funding
18:40rate as uh the open the overnight rate
18:43also closed at 22.25 25 uh% and then for
18:48uh the TB secondary market we saw that
18:50the T2 secondary market closed up on a
18:53relatively quiet last week. Last week uh
18:56as our presenter mentioned we're
18:57expecting uh the the consumer price
19:00index data to be released we also had
19:03the bond auction result the bond auction
19:06last week. So those two major activities
19:08influenc direction of the market last
19:10week as the Nigerian trad secondary
19:12market began to be on a very quiet note.
19:15We saw investors being on the sidelines
19:17because most people were are waiting to
19:18see number one where the CPI data would
19:21close and number two where the bond
19:23auction result would trade and those two
19:26major factors influenced decision at the
19:28beginning of the week as the market was
19:29very very quiet. But meet up uh post
19:32post the FJ bond uh option results and
19:35then the CPI data result where we saw
19:38inflation data uh h slowing down. You
19:42know, we saw renewed buy interest from
19:44investors and people were were looking
19:46to position particularly we saw at at
19:49the long end of the curve uh for for the
19:52treasury bills market. But at the end of
19:54the week, we saw that the market still
19:56closed marginally higher as it closed by
19:59at uh at 18.74%
20:03which represents a relatively uh one
20:06basis point uh increase from where we
20:09saw the previous week. And this week we
20:11expecting uh the central bank of Nigeria
20:14to also uh run another treasury boo uh
20:17primary market auction. But before that
20:19let's look at what we saw at the last
20:21auction. At the last auction uh 700
20:23billion worth of Nigerian treasury
20:25business was on offer. We saw a total
20:27subscription massive for for uh to to to
20:30to mention massive massive subscription
20:33at 4.4 sorry 4.4 4 trillion naira and uh
20:39what this tells us is that number one
20:41investors are looking to take advantage
20:42of the current levels in the market.
20:44Number two, we've also seen that
20:46liquidity liquidity levels on the market
20:48has also been relatively high and which
20:51is what has transpired or translated
20:53into the higher subscription levels
20:55we've seen at least in the last two
20:57consecutive auctions. And I'm very
20:59certain that the next auction holding
21:00this we won't see a different story. uh
21:05uh at the subscription level we saw 4.4
21:08trillion in terms of allotment as
21:10against the 700 billion worth of beans
21:13they were offered uh the central bank of
21:15Nigeria allotted for 1.4 4 trillion
21:19which is which which I strongly believe
21:22which I strongly believe is a
21:24representation of the fact that since
21:26subscriptions are high we would also
21:28expect naturally that the central bank
21:30of Nigeria would also all lot
21:32significantly higher uh amount of bill
21:35at the auction and at at that very
21:38auction we saw that the stop rates on
21:40the 18 on the 91 day and on the 180 day
21:43uh remain flat while on the 364 day B we
21:47saw
21:48marginal decline from 17.59
21:51to 17.35%.
21:53We also expect that the auction holding
21:55this week will we are likely to see a
21:58marginal decline in in in in terms of
22:01rates. So all of this points to the fact
22:03that we expect investors uh to continue
22:06to position at the current levels
22:08because strongly believe that by the
22:09time uh the the political activities eat
22:12full year and also we expect that so and
22:16and as well when we start to see a
22:18deceleration in inflation because let's
22:21let's go back to memory we could
22:23remember that some some few months down
22:25the line probably some few months ago we
22:28saw inflation at an average of 14 14% I
22:31think 14.95%.
22:33What made inflation eventually go higher
22:35above 15%. Was the the the the tension
22:38in the Middle East between Israel, Iran
22:41and and of course the US. Now that we
22:43begin to see some sort of clarity and
22:45sort of certainty in terms of cisire
22:47ceasefire among these various countries,
22:50we expect that the inflation will begin
22:52to subside. And what that will mean is
22:54that the rates across all markets both
22:56at the fixed income market, treasury
22:58market, even talk of the market will we
23:02are likely going to start to see a
23:04deceleration in rates. What that means
23:06is that for investors who are still
23:08looking to position or for investors who
23:10are still looking who are still hoping
23:12that rates might continue to go higher,
23:14I think that the levels we have right
23:16now might just present a very good
23:18opportunity for it to position and we
23:21shouldn't. I I repeat, we no no rational
23:24investor know should sleep on the
23:26current levels we have and they should
23:28take advantage of of the current levels.
23:32And for the bond to market, we saw that
23:34the market closed on a very bullish note
23:36last week. And that that that was no
23:38surprise to active market uh
23:40participants, probably those who monitor
23:42the market actively. Uh because at the
23:44bond auction that that held last week,
23:47we saw across the three tenants that
23:49offer rates declines. And what that
23:51means is that once rate declines at the
23:52primary market, you will naturally see
23:54that translate into decline of rate at
23:58the secondary market. At the auction
24:00last week, across the three terrors that
24:02we heard, uh the the debt management
24:04office uh closed the auction lower and
24:07which was what also translated to to the
24:09lower uh yield we saw at at a secondary
24:14market. And then on a 10- basis we saw
24:16that on the short to the mid end of the
24:19curve we saw a nine basis point decline
24:21and while on the long end of the curve
24:23we saw a a five basis point decline
24:26which eventually led to the overall
24:29market closing on the bullish zone and
24:31at the end of the week we saw that the
24:32bond secondary market closed at at
24:3516.67% 67% which represent an 11 basis
24:38point decline and uh we we naturally
24:41would expect that this trend will
24:43continue uh because at the next monial
24:45policy uh uh meeting that would hold in
24:48exactly a month away from now we expect
24:50that the central bank is most likely
24:52going to hold rates as as we expect that
24:56as as we expect that by the next time
24:58the second the the the the policy would
25:01meet sorry the committee will be meeting
25:03inflation would naturally have have
25:05subsided And that would also be a major
25:07critical point to consider when
25:09reviewing policy rate decision. And for
25:13the for the foreign exchange market uh s
25:16probably not surprisingly we've seen
25:19that the the foreign exchange market has
25:21remained very very resistant and and one
25:24two factors have contributed to that.
25:26We've seen the dollar uh slightly
25:28slightly weakening and we've also seen
25:30the Nigerian foreign exchange reserve
25:32also growing significantly as week ended
25:3521st of August we saw our foreign
25:38exchange market so our foreign reserve
25:40closing at an average of 52 trillion
25:42naira which was a major factor that led
25:45to the strengthen of the naira at the
25:48end of the week at the official window
25:49the naira closed at 1,346
25:52naira for 9 while at par market we saw a
25:56point a 106 basis point improvement from
25:591,420 naira to 1,45
26:03naira at at the end of the week. We hope
26:07that this this uh trend would continue
26:10as as uh we we are very confident that
26:14foreign investors still hold very very
26:16strong confidence in the market.
26:18However,
26:20uh with political activities uh jaring
26:22off and as politicians began to spend
26:25and and and be they begin campaign, we
26:27hope that would not reverse some of the
26:29gains of weakness in this market as
26:32typical for election period because we
26:35understand that the investors might
26:36likely begin sorry politicians might
26:39likely begin to you know spend heavily
26:41on the dollar end which is likely to
26:43have an impact on on the foreign
26:45exchange market. But we remain
26:46optimistic. We remain confident in the
26:49ability of the central bank of Nigeria
26:50to continue to hold things in place and
26:52we are confident that the market will
26:54remain relatively stable. And then for
26:57our expectation for the read in terms of
26:59the funding rate we are likely going to
27:02see uh the rate holding stable at at the
27:04current levels where they have like I
27:06mentioned earlier there's an auction
27:08holding issue on the treasury on
27:10treasury space and we do not see the
27:12settlement obligations on that end
27:14materally affecting affecting liquidity
27:17levels as such we expect that liquidity
27:21in that uh sorry funding rates will hold
27:23very very firm and in terms of the
27:25treasury
27:26uh secondary market relatively we would
27:29see the market begin on a very quiet
27:32note as as the case has always been
27:34because investors would want to see what
27:36uh the auction where the auction would
27:38close out but ultimately we naturally
27:41expect that the market would sustain a
27:43bullish run uh because one with
27:45liquidity at over 4 trillion naira that
27:48would mean that the investors will
27:49continue to uh position ahead of uh any
27:52potential uh policy action by the
27:54monetary policy committ in the next one
27:56month. You know what distinguishes a
27:59rational investor or probably a
28:01profitable investor from every other
28:03investor is the ability to position edge
28:06you know of any policy rate and for the
28:08bond secondary market we expect that our
28:11liquidity conditions in the market will
28:13be a major determinant in terms of our
28:16direction and having said all of this
28:18you know two two key factors we've
28:20mentioned one we've we've stated that
28:23inflation is likely going to continue to
28:25subside on the back that we're beginning
28:27to see some stability in the Middle
28:29East. And secondly, the monetary policy
28:31committee is likely going to continue to
28:33hold the policy rate stable
28:36following that one. We've seen a a a
28:39reduction in inflation. Uh but
28:41potentially the spending on inflation
28:43might likely going to is likely going to
28:45upset that, but we're likely going to
28:47see a balance between both ends and the
28:49policy the the monetary policy committee
28:52will be there to continue to put things
28:54in greater perspective. So we expect
28:56that investors will continue to position
28:58ahead across all of our products because
29:00we believe the levels where rates are
29:02they offer very good opportunities for
29:04investors across our fixed income fund
29:07the lead fixed income fund the lead
29:08balance fund the lead dollar fund uh the
29:11lead gazelle portfolio and also of
29:13course uh for for clients who have FX uh
29:16to they could also take advantage of of
29:18of of eurobond trading all of these
29:21products are there to encourage
29:23investors to be act to be actively
29:25uh to to be to be an active participant
29:27in the market. And we believe with the
29:29guidance we roll out week in week out,
29:32our investors who listen to us and and
29:34and subject themselves to our guidelines
29:36would always be better off than those
29:38who do not have the love of of of
29:41enjoying what we dish out week in week
29:43out. But if you have clarifications, you
29:46have questions, you have one or two two
29:48other things you would like us to
29:50provide clarity or provide answers to,
29:52you know, our customer service lines are
29:54open. But in the meantime, before this
29:56session uh comes to a close, we would
29:58like to take uh some questions and uh
30:01now is the time for us to look at that.
30:03If you have questions, you have uh one
30:05of the things you would like to bring to
30:07our notice, the floor is now open for
30:09you to to to ask your questions. Two two
30:12options you have. You could either chat
30:14us via the chat box or you signify with
30:17a raise of hand that you want to speak
30:19to us directly and we would unmute your
30:21mic from here. Thank you so much for
30:22listening to us and then now it's time
30:24to listen to sorry to take your
30:26questions as as you have them. Okay.
30:29Some questions we have here. I learned
30:31dang sugar rights issue has been
30:33allotted but it is not reflecting on my
30:35dashboard. May I know why? Uh
30:39>> okay. So um for dangote sugar allotment
30:42yes that was done I think um last week
30:45Friday or the week before. So what we
30:47are currently doing is to reconcile your
30:49position in house. So what what what
30:51we'll be um doing we're doing it in
30:53batches right. So if you haven't seen
30:55yours be rest assured that before the
30:57end of this week it obviously would
31:00reflect in your position. So um the next
31:03question we have here uh which sector
31:06have been the main drivers of the market
31:09correction? Okay so um the market
31:12pullback was heavily led by the oil and
31:14gas and insurance sector. The oil and
31:17gas um shared over 5% uh in the last
31:20past week uh with major heavy weights
31:22like Aradel holding um um face sustain
31:27sustained selling pressure making it the
31:29weakest performing sector. The banking
31:32stocks including the tier one
31:34institution um such as JTico, Zenith
31:37Bank, UBA and asset holdings also saw
31:41moderate uh pullbacks around a 2.1% as
31:45investors locked in gains. Uh so the
31:50next question here, how the trading
31:53volume and overall investors activity
31:56change week on week. Okay. So, overall
31:59market turnover and liquidity dropped
32:01significantly, right? Total trading um
32:04traded value or volume rather plummeted
32:07by 48.68%
32:09week on week. Uh falling from over a
32:1212.1 billion shares to 6.24 billion
32:16shares. Uh similarly transaction um
32:19value dropped by uh 10.39%
32:23uh to
32:25157.5
32:28157.76 billion. Uh despite the slowdown
32:32the financial service industry remained
32:35the dominant driver accounting for
32:37roughly 89% of total traded volume.
32:43Uh so we have another question here. Um
32:48what is the market breath during this
32:51correction phase? Um okay so the market
32:53breath remained distinctively um
32:56negative indicating broader market
32:58weakness rather than isolated stock uh
33:01and drops uh over the past week 59
33:04equities posted uh prices declines uh
33:08against only 18 gainers down from 26 um
33:13uh 26 gainers in the preceding week. So
33:15while we had 70 stock that remained
33:19unhinged.
33:23So we have another question here from
33:25Mr. Guena. What is the technical outlook
33:28and expectation for the market following
33:31this 8day drop? Uh okay. So um the view
33:37on the 8day um decline is a tactical
33:40markdown or a healthy correction phase
33:42following earlier record high rallies.
33:45Uh the index is testing strong support
33:47levels uh near the 239,000 to 240 basis
33:51point region because yet to date perform
33:54rema performance rather remains solidly
33:56positive. Market analysts um anticipate
33:59that the corrective phase may prevent uh
34:03very um value buying opportunities
34:06before a potential recovery uh led by
34:09the fundamentally sound um sectors like
34:11banking and the consumer um goods. So
34:16before we go uh our time is fast spent
34:19uh before we go I would like to announce
34:21that the lead key summer 2.0 O begins
34:23today uh by noon, right? So the links
34:26will be shared across board. We are
34:29ready to have your kids join us via Zoom
34:31by 12 noon. Thank you for your time and
34:33here is wishing you a productive week.

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