BOC Gases Nigeria Plc has said that TY Holdings Limited from BOC Holdings UK has acquired 60% of the company’s ordinary shares. The transaction elevated TY Holdings Limited to the largest shareholder in BOC Gases Nigeria Plc with an increase from 12% to 72% ownership stake. Meanwhile sell-offs on ACCESS (-1.1%), GTCO (-0.9%), and FBNH (-0.7%) drove the local bourse southward, as the All-Share index (ASI) fell by 1bps to 39,545.67 points. Consequently, YTD loss remained the same at -1.8% while market capitalisation fell by ₦2.4bn to ₦20.6tn. Nevertheless, the NGXASI remains undervalued at 12.9x P/E ratio compared to Frontier markets average of 15.8x.
Trading activity was mixed as volume traded increased by 19.2% to 132.1m units while value traded declined by 13.3% to ₦2.7bn. The most traded stocks by volume were TRANSCORP (14.1m units), CHAMS (14.1m units), and ZENITH (8.5m units) while NESTLE (₦1.2bn), AIRTELAF (₦278.4m), and ZENITH (₦206.2m) led by value.
Across sectors under our coverage, performance was bullish as 4 indices gained, 1 index lost while the AFR-ICT index remained flat. Topping the gainers are the Consumer Goods and Banking indices, up 12bps and 8bps respectively on the back of price appreciation in HONYFLOUR (+9.7%), GUINNESS (+1.0%), UBA (+1.3%), and UBN (+1.0%). Likewise, the Oil & Gas and Industrial Goods indices rose by 4bps apiece due to buying interest in OANDO (+0.2%) and WAPCO (+0.7%). On the other hand, the Insurance index was the lone loser, down 0.9% driven by sell pressure on PRESTIGE (-8.3%) and WAPIC (-4.0%). Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened, settling at 1.1x from 0.9x recorded in the last trading session as 18 stocks advanced while 17 stocks declined. PHARMDEKO (+10.0%), BOCGAS (+9.8%), and HONYFLOUR (+9.7%) led the gainers while SCOA (-9.7%), PRESTIGE (-8.3%), and REGALINS (-7.0%) led the losers.
Market Statistics for Wednesday, 18th August 2021
|Market Cap (N’bn)||20,603.9|
|Market Cap (US$’bn)||50.1|
|NSE All-Share Index||39,545.67|
|Daily Performance %||0.0|
|WTD Performance %||0.1|
|MTD Performance %||2.6|
|QTD Performance %||4.3|
|YTD Performance %||(1.8)|
|Daily Volume (Million)||132.1|
|Daily Value (N’bn)||2.7|
|Daily Value (US$’m)||6.5|