Home Finance Bears resurface again on domestic Bourse… ASI down 3bps

Bears resurface again on domestic Bourse… ASI down 3bps

by Business News Report

Today, trading activities on the domestic bourse edge lower by 3bps to close at 39,449.82 points, dragged by sell-offs in DANGSUGAR (-2.8%), GTCO (-0.7%), and ZENITH (-0.4%). Nevertheless, YTD loss remained unchanged at -2.0% while market capitalisation declined by ₦5.7bn to ₦20.6tn. Trading activity was mixed as volume traded rose by 0.3% to 197.4m units while value traded fell by 27.5% to ₦1.1bn. The most traded stocks by volume were SOVRENINS (48.4m units), MBENEFIT (27.1m units), and JAIZBANK (10.9m units) while MTNN (₦155.2m), NESTLE (₦149.7m), and ZENITH (₦141.7m) led by value.

Across sectors under our coverage, performance was bearish as 4 indices lost while the AFR-ICT and Industrial Goods indices closed flat. The Insurance and Banking indices slipped by 0.5% and 0.1% respectively due to price depreciation in MBENEFIT (-8.6%), SOVRENINS (-4.4%), GTCO (-0.7%), and ZENITH (-0.4%). Similarly, the Consumer Goods and Oil & Gas indices fell by 0.1% apiece due to sell-offs in DANGSUGAR (-2.8%) and OANDO (-1.9%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.8x from 0.9x recorded yesterday as 16 stocks advanced while 19 stocks declined. ETERNA (+10.0%), CAPHOTEL (+10.0%), and MORISON (+9.7%) led the gainers while ACADEMY (-9.8%), PHARMDEKO (-9.5%), and MBENEFIT (-8.6%) led the losers. In the next trading session, we expect to see profit-taking activities dominate the market in the absence of any positive catalyst.

Market Statistics for Wednesday, 25th August 2021 

Market Cap (N’bn)20,553.9
Market Cap (US$’bn)50.0
NSE All-Share Index39,449.82
Daily Performance %0.0
WTD Performance %(0.1)
MTD Performance %2.3
QTD Performance %4.1
YTD Performance %(2.0)
Daily Volume (Million)197.4
Daily Value (N’bn)1.1
Daily Value (US$’m)2.6

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