Home Stock Market Bearish run continues at the Nigerian Stock market, ASI down 6bps 

Bearish run continues at the Nigerian Stock market, ASI down 6bps 

by Business News Report

Bearish sentiment persisted on the local bourse today, as the All-Share Index fell by 6bps to close at 38,233.68 points following price decline in ZENITH (-1.1%), FLOURMILL (-5.3%), and GUARANTY (-0.7%). Consequently, YTD loss worsened to -5.1% while market capitalisation declined by ₦12.1bn to settle at ₦19.9tn. Trading activity was mixed as volume traded fell by 18.8% to 203.1m units while value traded rose by 17.0% to ₦1.8bn. The most traded stocks by volume were FIDELITY (24.4m units), ZENITH (22.1m units), and MBENEFIT (16.9m units) while ZENITH (₦508.0m), GUARANTY (₦368.2m), and UACN (₦131.4m) led by value.

Across sectors under our coverage, performance was mixed as 2 indices lost, 1 gained, while 3 closed flat. The Banking and Consumer Goods lost 0.4% and 8bps respectively, following sell-offs in ZENITH (-1.1%), GUARANTY (-0.7%), FLOURMILL (-5.3%), and DANGSUGAR (-0.3%). Conversely, the Insurance index emerged as the lone gainer, up by 1.2% due to price appreciation in LASACO (+9.1%) and MANSARD (+1.2%). However, the Oil & Gas, Industrial Goods, and AFRI-ICT indices closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 1.4x from 0.6x in the last trading session as 20 stocks advanced while 14 declined. JOHNHOLT (+9.6%), VITAFOAM (+9.2%) and LASACO (+9.1%) led gainers while FTNCOCOA (-7.3%), NPFMCRFBK (-5.6%) and FLOURMILL (-5.3%) led decliners. We expect the market to remain bearish in the next trading session due to the absence of a positive catalyst.

Market Statistics for Wednesday, 26th May 2021 

Market Cap (N’bn)19,928.3
Market Cap (US$’bn)48.5
NSE All-Share Index38,233.68
Daily Performance %(0.1)
WTD Performance %(0.2)
MTD Performance %(4.0)
QTD Performance %(2.1)
YTD Performance %(5.1)
Daily Volume (Million)203.1
Daily Value (N’bn)1.8
Daily Value (US$’m)4.4

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