Home Stock Market Bears return to Nigerian Stock market as market capitalisation falls by N7.7bn

Bears return to Nigerian Stock market as market capitalisation falls by N7.7bn

by Business News Report

At the close of trade today, the benchmark index lost 4bps to 38,706.13 points following sell-offs in NCR (-9.7%), NEIMETH (-9.1%) and VITAFOAM (-5.2%). Accordingly, the YTD loss worsened to -3.9% and market capitalisation reduced by ₦7.7bn to ₦20.3tn. Trading activity declined as volume and value decreased by 19.7% and 38.4% respectively to 177.4m units and ₦2.7bn. The most traded stocks by volume were GUARANTY (34.2m units), ZENITH (28.5m units) and UBA (17.7m units) while GUARANTY (₦957.8m), ZENITH (₦572.1m) and SEPLAT (₦265.6m) led by value.

Across sectors under our coverage, performance was mixed as 3 indicators lost, 1 gained and the Industrial Goods and AFR-ICT indices closed flat. The Oil and Gas index rose 1.7% on the back of gains in OANDO (+9.7%) and SEPLAT (+0.9%). Conversely, the Insurance, Banking and Consumer Goods indices lost by 1.0%, 0.4% and 2bps respectively following sell-offs in MANSARD (-5.1%) and GUARANTY (-1.8%) and VITAFOAM (-5.2%). 

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.1x from the 0.6x recorded previously as 13 stocks advanced against 12 losers. WAPIC (+10.0%), SFSREIT (+9.9%) and OANDO (+9.7%) were the top gainers while NCR (-9.7%), NEIMETH (-9.1%) and VITAFOAM (-5.2%) were the top losers. We anticipate an uptick in subsequent trading sessions as investors sentiment towards the market strengthened.

Market Statistics for Wednesday, 17th March 2021 

Market Cap (N’bn)20,251.2
Market Cap (US$’bn)52.5
NSE All-Share Index38,706.1
Daily Performance %(0.04)
WTD Performance %0.1
MTD Performance %(2.7)
QTD Performance %(3.9)
YTD Performance %(3.9)
Daily Volume (Million)177.4
Daily Value (N’bn)2.7
Daily Value (US$’m)6.9

Related Posts