Home Finance Investors lost N17bn at stock market as improved sentiment fails to lift performance

Investors lost N17bn at stock market as improved sentiment fails to lift performance

by Business News Report

At the close of trade, sell-offs in Banking stocks – ZENITH (-2.3%), GTCO (-0.7%), and ACCESS (-1.1%) – dragged the benchmark index southward as the NGX All-Share Index dipped 8bps to close at 38,873.85 points. Accordingly, YTD loss worsened to -3.5% while market capitalisation decreased ₦17.0bn to ₦20.3tn. Trading activity was mixed as volume traded rose 1.4% to 184.4m units while value traded fell 0.3% to ₦2.3bn. The most traded stocks by volume were UBA (39.0m units), GTCO (19.0m units), and ZENITH (14.2m units) while GTCO (₦517.9m), ZENITH (₦326.5m), and DANGCEM (₦298.8m) led by value. 

Across sectors under our coverage, performance was mixed as 3 indices gained, 1 lost, while the Consumer Goods and AFR-ICT indices closed flat. The Banking index was the lone laggard, down 1.0% due to sell-offs in ZENITH (-2.3%), GTCO (-0.7%), and ACCESS (-1.1%). Conversely, the Industrial Goods index led the gainers, up 8bps on the back of price appreciation in WAPCO (+1.4%) and CUTIX (+2.1%). Similarly, the Insurance and Oil & Gas indices gained 7bps and 6bps respectively on account of buying interest in WAPIC (+2.1%) and MRSOIL (+9.8%).

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.2x from 0.9x as 15 stocks advanced while 13 stocks declined. MRS (+9.7%), VERITASKAP (+9.5%), and REGALINS (+6.8%) led the gainers while NEIMETH (-7.9%), CHAMS (-4.3%), and JAPAULGOLD (-4.1%) led the laggards. Following an improvement in sentiment, we expect a positive performance in the next trading session as investors take position in attractive stocks.

Market Statistics for Tuesday, 21st September 2021 

Market Cap (N’bn)20,253.5
Market Cap (US$’bn)49.3
NSE All-Share Index38,873.85
Daily Performance %(0.1)
WTD Performance %(0.2)
MTD Performance %(0.9)
QTD Performance %2.5
YTD Performance %(3.5)
Daily Volume (Million)184.4
Daily Value (N’bn)2.3
Daily Value (US$’m)5.7

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