Home Stock Market Bullish run resumes at Nigerian Stock Market, ASI up 0.8% 

Bullish run resumes at Nigerian Stock Market, ASI up 0.8% 

by Business News Report

The domestic equities market started the last trading week of the year on a bullish note, up 0.8% to close at 39,110.17 points. The performance was buoyed by strong demand for BUACEMENT (+6.7%), ZENITH (+2.0%) and ACCESS (+4.1%). Similarly, the YTD return increased to 45.7% as market capitalisation advanced ₦167.6bn to settle at ₦20.4tn. Activity level was mixed as volume traded rose 85.4% to 722.6m units while value traded dipped 45.0% to ₦4.4bn. The most traded stocks by volume were AIICO (273.1m units), OANDO (81.4m units) and FBNH (41.1m units) while DANGCEM (₦993.2m), ZENITH (₦742.0m) and ACCESS (₦353.3m) led the value table.

Performance across the six sectors under our coverage was mixed as 2 sectors gained, 3 lost while the AFR-ICT indicator closed flat. The Industrial Goods and Banking indices climbed 2.4% and 1.1% respectively on the back of gains in BUACEMENT (+6.7%), CUTIX (+2.3%) and ZENITH (+2.0%). Conversely, the Insurance index fell 0.8%, underpinned by losses in MANSARD (-4.8%) and AIICO (-1.6%). Finally, the Oil & Gas and Consumer Goods indices declined 0.1% apiece following sell-offs in OANDO (-0.6%), FLOURMILL (-1.6%) and GUINNESS (-1.0%).

Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.9x from the 2.6x recorded previously as 18 stocks gained against 20 losers. JAIZBANK (+10.0%), NEM (+9.6%) and LASACO (+8.8%) were the best performing tickers while NCR (-9.7%), FTNCOCOA (-9.0%) and TRANSEXPR (-8.9%) led the losers. We anticipate the bullish run would remain following sustained buying interest in the local bourse.

Market Statistics for Tuesday, 29th December 2020 

Market Cap (N’bn) 20,446.8
Market Cap (US$’bn) 53.0
NSE All-Share Index 39,110.17
Daily Performance % 0.8
WTD Performance % 0.8
MTD Performance % 11.6
QTD Performance % 45.8
YTD Performance % 45.7
Daily Volume (Million) 722.6
Daily Value (N’bn) 4.4
Daily Value (US$’m) 11.3

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