Home Stock Market Investors lost N65.8 bn at Nigerian stock market trading

Investors lost N65.8 bn at Nigerian stock market trading

by Business News Report

The equities market ended in the negative territory following sell-offs in NIGERIAN BREWERIES (-3.7%), ACCESS (-4.7%) and ZENITH (-1.7%). As a result, the benchmark index lost 31bps to 40,095.49 points, YTD return worsened to -0.4% and market capitalisation fell ₦65.8bn to ₦21.0tn. Trading activity declined as volume and value dipped 30.6% and 47.6% to 326.0m units and ₦3.7bn respectively. The most traded stocks by volume were TRANSCORP (48.4m units), DANGSUGAR (33.9m units) and UBA (27.5m units) while ZENITH (₦637.6m), DANGSUGAR (₦611.8m) and GUARANTY (₦478.8m) led by value.

Performance across sectors was mixed as 3 of the 6 indices under our coverage closed southward. The Banking index led laggards, down 1.4% due to price decline in ACCESS (-4.7%) and ZENITH (-1.7%). Also, the Consumer Goods and Oil & Gas indices closed lower at 0.8% and 0.2% respectively following sell pressures in NIGERIAN BREWERIES (-3.7%), DANGSUGAR (-0.6%) and OANDO (-1.8%). Conversely, the Insurance index rose 0.2% following buying interest in WAPIC (+3.7%) and MANSARD (+0.9%). Lastly, the Industrial Goods and AFR-ICT indices closed flat. 

Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from the 1.0x recorded previously as 14 stocks advanced against 23 decliners. CHAMS (+9.1%), ROYALEX (+8.0%) and WEMABANK (+7.7%) were the top gainers while LASACO (-9.7%), FIDSON (-8.4%) and ETI (-6.3%) were the top losers. We expect the market to close in the red for the week.

Market Statistics for Thursday, 25th February 2021 

Market Cap (N’bn)20,978.2
Market Cap (US$’bn)54.3
NSE All-Share Index40,095.49
Daily Performance %(0.3)
WTD Performance %(0.2)
MTD Performance %(5.5)
QTD Performance %(0.4)
YTD Performance %(0.4)
Daily Volume (Million)326.0
Daily Value (N’bn)3.7
Daily Value (US$’m)9.6

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