Home Stock Market Local Bourse records Bullish performance… ASI up 15bps

Local Bourse records Bullish performance… ASI up 15bps

by Business News Report

Today, the local bourse resumed trading for the week on a bullish note, as price appreciation in MTNN (+1.8%), MBENEFIT (+5.4%), and ZENITH (+0.2%) pushed All-Share index higher by 15bps to 38,604.72 points. Consequently, YTD loss improved to -4.1% while market capitalisation rose by ₦30.0bn to ₦20.1tn. Trading activity declined as volume and value traded fell by 36.9% and 50.0% respectively to 244.3m and ₦1.9bn. The most traded stocks by volume were TRANSCORP (40.3m units), CILEASING (26.1m units), and FCMB (17.7m units) while GTCO (₦229.5m), PRESCO (₦227.2m), and ZENITH (₦192.8m) led by value.

Performance across sectors under our coverage was bearish as 4 indices lost while 2 indices gained. The Oil & Gas and Consumer Goods indices led the losers, down 0.6% and 0.4% respectively due to sell-offs in OANDO (-1.8%), ETERNA (-10.0%), DANGSUGAR (-5.4%) and HONYFLOUR (-0.6%). Followed by the Industrial Goods and Insurance indices which fell by 0.3% and 0.2% respectively due to price depreciation in WAPCO (-5.0%), WAPIC (-3.6%), and AIICO (-3.7%). On the flip side, the AFR-ICT and Banking indices gained 1.1% and 2bps on the back of bargain hunting in MTNN (+1.8%) and ZENITH (+0.2%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), declined to 0.6x from 0.7x recorded in the last trading session as 17 stocks advanced while 25 stocks declined. JBERGER (+8.9%), NPFMCRFBK (+8.0%), and REGALINS (+7.1%) led gainers while ETERNA (-10.0%), NEIMETH (-9.7%), and TRIPPLEG (-9.1%) led decliners. In the next trading session, we anticipate a bullish performance on the domestic bourse driven by bargain hunting activities.

Market Statistics for Monday, 2nd August 2021

Market Cap (N’bn)20,113.6
Market Cap (US$’bn)48.9
NSE All-Share Index38,604.72
Daily Performance %0.1
WTD Performance %0.1
MTD Performance %0.1
QT Performance %1.8
YTD Performance %(4.1)
Daily Volume (Million)244.3
Daily Value (N’bn)1.9
Daily Value (US$’m)4.6

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