Home Stock Market Gtbank, Zenith, Access lift Nigerian Stock market index

Gtbank, Zenith, Access lift Nigerian Stock market index

by Business News Report

The domestic equities market closed positive as buy interest in GUARANTY (+5.4%), ZENITH (+1.7%) and ACCESS (+1.2%) drove the benchmark index higher by 30bps to 35,147.62 points. Consequently, investors gained ₦55.2bn as market capitalisation rose to ₦18.4tn while YTD return improved to 30.9%. Activity level waned as volume and value traded fell 25.8% and 30.5% to 308.2m units and ₦3.4bn respectively. The most traded stocks by volume were ACCESS (43.4m units), FBNH (31.9m units) and MBENEFIT (24.4m units) while GUARANTY (₦859.2M), SEPLAT (₦431.9m) and ACCESS (₦376.5m) led by value.

Performance across sectors was bearish as 3 of the 6 indices under our coverage declined. The Banking and Oil & Gas indices gained, up 2.3% and 0.2% respectively, following price appreciation in GUARANTY (+5.4%), ZENITH (+1.8%) and SEPLAT (+0.4%). Conversely, the Insurance, AFR-ICT and Consumer Goods indices lost, down 1.2%, 0.1% and 0.1% respectively due to sell-offs in CORNERSTONE (-10.0%), MTNN (-0.1%) and GUINNESS (-2.9%) respectively. Lastly, the Industrial Goods index closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 0.8x from the 0.6x recorded in the previous session as 16 stocks gained against the 21 that declined. CAVERTON (+9.9%), CUTIX (+9.8%) and AIICO (+9.8%) led the top gainers while CORNERSTONE (-10.0%), CHIPLC (-9.7%) and PRESTIGE (-9.1%) led  the decliners. We expect the mild gains in the equities market to be sustained this week.

Market Statistics for Tuesday, 1st December 2020 

Market Cap (N’bn) 18,364.8
Market Cap (US$’bn) 47.6
NSE All-Share Index 35,147.62
Daily Performance % 0.3
WTD Performance % 0.8
MTD Performance % 15.1
QTD Performance % 31.0
YTD Performance % 30.9
Daily Volume (Million) 308.2
Daily Value (N’bn) 3.4
Daily Value (US$’m) 8.8

Source: Afrinvest

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