Home Stock Market Local Bourse extends gains… ASI up 0.7%

Local Bourse extends gains… ASI up 0.7%

by Business News Report

At today’s trading session, buying interest in NESTLE (+10.0%), MTNN (+0.6%), and OANDO (+9.7%) buoyed positive performance on the local bourse as the benchmark index rose by 71bps to 37,907.28  points. Accordingly, YTD loss improved to -5.9% while market capitalisation grew by ₦138.9bn to ₦19.8tn. Trading activity was mixed as volume traded fell by 1.1% to 213.7m units while value traded grew by 19.2% to ₦3.2bn. The most traded stocks by volume were WEMA (18.3m units), OANDO (15.6m units), and MBENEFIT (15.1m units) while MTNN (₦1.7bn), ZENITH (₦265.1m), and NESTLE (₦213.7m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices gained, 2 indices lost while the Industrial Goods index was flat. The Consumer Goods index led the gainers, up 4.8% largely attributed to price appreciation in NESTLE (+10.0%), FLOURMILL (+2.8%), and UNILEVER (+2.3%). Similarly, the Oil & Gas and AFR-ICT indices rose by 0.7% and 0.4% respectively, due to buying interest in OANDO (+9.7%) and MTNN (+0.6%). On the contrary, the Banking and Insurance indices declined by 0.1% apiece due to sell pressure on ACCESS (-0.6%), STERLING (-3.1%), SOVRENIN (-7.1%), and AIICO (-1.0%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.3x from 2.2x recorded in the last trading session as 20 stocks gained while 16 stocks lost.  NESTLE (+10.0%), IKEJAHOTEL (+9.9%), and OANDO (+9.7%) led gainers while BOCGAS (-10.0%), SOVRENINS (-7.1%), and PZ (-7.1%) led decliners. In the next trading session, we expect a sustained positive performance.

Market Statistics for Wednesday, 30th June 2021 

Market Cap (N’bn)19,760.4
Market Cap (US$’bn)48.1
NSE All-Share Index37,907.28
Daily Performance %0.7
WTD Performance %0.7
MTD Performance %(1.4)
QTD Performance %(2.9)
YTD Performance %(5.9)
Daily Volume (Million)213.7
Daily Value (N’bn)3.2
Daily Value (US$’m)7.9

Source: Afrinvest

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