Home Stock Market Investors lost N339.8 bn at Nigerian Stock market trading

Investors lost N339.8 bn at Nigerian Stock market trading

by Business News Report

At the close of the first trading session of the week, the domestic equities market was in the red following sell-offs in AIRTELAF (-10.0%), STANBIC (-2.4%), and GUARANTY (-1.4%). As a result, the All-Share Index fell 166bps to 38,507.33 points, YTD loss worsened to -4.4% while market capitalisation declined ₦339.8bn to ₦20.1tn. Trading activity strengthened as volume and value traded rose 2.9% and 3.0% respectively to 297.3m units and ₦3.6bn. The most traded stocks by volume were ACCESS (43.1m units), STERLING (33.2m units), and ZENITH (25.9m units) while UHOMREIT (₦695.9m), ZENITH (₦602.2m), and MTNN (₦381.5m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices gained, 2 lost while the Industrial Goods index closed flat. The AFR-ICT index led laggards, down 4.8% due to sell-offs in AIRTELAF (-10.0%). Similarly, the Consumer Goods index fell 0.2% following price depreciation in INTBREW (-1.8%), FLOURMILL (-1.0%), and DANGSUGAR (-0.3%). Conversely, the Insurance and Banking indices rose 0.4% and 0.2% respectively due to buying interest in MANSARD (+2.3%), NEM (+3.9%), ACCESS (+3.1%), and ZENITH (+0.9%). Also, the Oil & Gas index inched higher by 0.1% on the back of bargain hunting in OANDO (+1.7%).

Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.7x  from 1.6x recorded in the last trading session as 19 stocks advanced while 26 stocks declined. CWG (+9.7%), BERGER (+6.7%), and REDSTAREX (+4.2%) led gainers while AIRTELAFR (-10.0%), OKOMUOIL (-9.4%), and CORNERSTONE (-9.1%) led decliners. In the next trading session, we expect the market to sustain its bearish performance as investors take profit.

Market Statistics for Tuesday, 15th June 2021 

Market Cap (N’bn)20,069.4
Market Cap (US$’bn)48.8
NSE All-Share Index38,507.33
Daily Performance %(1.7)
WTD Performance %(1.7)
MTD Performance %0.2
QTD Performance %(1.4)
YTD Performance %(4.4)
Daily Volume (Million)297.3
Daily Value (N’bn)3.6
Daily Value (US$’m)8.9

Source: Afrinvest

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