Home Stock Market DANGCEM, ETI, Fidelity drag Nigerian Equities Market as investors lost N118.4bn

DANGCEM, ETI, Fidelity drag Nigerian Equities Market as investors lost N118.4bn

by Business News Report

At the close of trade, the local bourse posted a negative performance due to sell-offs in DANGCEM, ETI, and FIDELITY. Consequently, the All-Share Index fell 57bps to 39,267.11 points, YTD loss worsened to -2.5% and investors lost ₦118.4bn as market capitalisation decreased to ₦20.5tn. Trading activity waned as volume and value declined 35.6% and 69.3% respectively to 336.1m units and ₦3.3bn. The most traded stocks by volume were UBN (78.9m units), COURTVILLE (43.9m units), and GUARANTY (29.0m units) while GUARANTY (₦955.1m), ZENITH (₦560.5m), and UBN (₦418.1m) led by value.

Across sectors that we cover, performance was mixed as 2 indicators gained, 2 lost and 2 closed flat. The Banking and Consumer Goods indices rose 0.9% and 0.1% respectively due to price appreciation in ZENITH (+2.5%), UBA (+4.4%), DANGSUGAR (+0.6%), and GUINNESS (+1.4%). Conversely, the Industrial Goods and Insurance indices fell 1.9% and 0.2% respectively on account of sells-offs in DANGCEM (-4.0%), AIICO (-4.0%) and PRESTIGE (-8.9%). Finally, the Oil & Gas and AFR-ICT indices closed flat for the day.

Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.7x from the 2.3x recorded previously as 22 stocks gained against 13 decliners. LIVESTOCK (+9.7%), CORNEST (+9.1%) and COURVILLE (+9.1%) were the top gainers while REGALINS (-9.1%), PRESTIGE (-8.9%) and DAARCOMM (-8.0%) were the top decliners. In subsequent trading sessions, we anticipate a mix of buying interest and profit-taking in the equities market.

Market Statistics for Tuesday, 30th March 2021 

Market Cap (N’bn)20,544.8
Market Cap (US$’bn)53.2
NSE All-Share Index39,267.11
Daily Performance %(0.6)
WTD Performance %0.1
MTD Performance %(1.3)
QTD Performance %(2.5)
YTD Performance %(2.5)
Daily Volume (Million)336.1
Daily Value (N’bn)3.3
Daily Value (US$’m)8.5

Related Posts