Home Stock Market Local Bourse records losses… ASI down 0.4%

Local Bourse records losses… ASI down 0.4%

by Business News Report

Local bourse recorded losses as the benchmark index fell by 44bps to close at 39,306.47 points following sell-offs in MTNN (-1.1%), BUACEMENT (-1.2%) and GUARANTY (-1.7%). Consequently, YTD loss worsened to -2.4% as market capitalisation fell ₦91.4bn to ₦20.5tn. Trading activity improved as volume and value traded rose 62.9% and 2.5% respectively to 357.7m units and ₦3.4bn. The most traded stocks by volume were ZENITH (52.7m units), FBNH (42.5m units) and NEM (39.5m units) while ZENITH (₦1.2bn), DANGSUGAR (₦368.8m), and MTNN (₦313.9m) led by value.

Across sectors under our coverage, performance was bearish as 5 out of 6 indicators lost. The Industrial Goods index led the losers, down 0.7% due to profit taking in BUACEMENT (-1.2%) and WAPCO (-2.4%). Similarly, the Banking and AFR-ICT indices declined 0.6% and 0.5% respectively following sell-offs in STANBIC (-2.2%), GUARANTY (-1.7%) and MTNN (-1.1%). In the same vein, the Insurance and Consumer Goods indices fell 0.3% and 7bps respectively on the back of price depreciation in MANSARD (-3.3%), DANGSUGAR (-0.8%), and GUINNESS (-1.7%). On the flip side, the Oil & Gas index rose by 0.2% as a result of buying interest in ETERNA (+9.8%) and OANDO (+0.3%). 

Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 1.6x from the 1.2x recorded in the previous session as 22 stocks advanced while 14 declined. ETERNA (+9.8%), ROYALEX (+9.2%), and CAPHOTEL (+9.1%) led gainers while ENAMELWA (-9.8%), AFRIPRUD (-6.9%), and NPFMCRFBK (-6.4%) led decliners. In the coming trading session, we expect the sell pressure on the domestic stock market to mildly reduce.

Market Statistics for Monday, 17th May 2021 

Market Cap (N’bn)20,487.5
Market Cap (US$’bn)53.1
NSE All-Share Index39,306.47
Daily Performance %(0.4)
WTD Performance %(0.4)
MTD Performance %(1.3)
QTD Performance %0.7
YTD Performance %(2.4)
Daily Volume (Million)357.7
Daily Value (N’bn)3.6
Daily Value (US$’m)9.2

Source: Afrinvest

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