Home Stock Market Local Bourse reverses gains… ASI down 2bps

Local Bourse reverses gains… ASI down 2bps

by Business News Report

Today, sell pressure on OANDO (-8.5%), DANGSUGAR (-0.8%), and UBA (-0.7%) drove negative performance on the domestic bourse as the All-Share Index slid by 2bps to 37,898.59  points. Accordingly, YTD loss was unchanged at -5.9% while market capitalisation fell by ₦4.5bn to ₦19.8tn. Trading activity declined as volume and value traded fell by 3.9% and 15.5% respectively to 205.5m units and ₦2.7bn. The most traded stocks by volume were GTCO (41.8m units), MBENEFIT (14.7m units), and WEMABANK (13.2m units) while GTCO (₦1.3bn), ZENITH (₦233.8m), and STANBIC (₦227.6m) led by value.

Across sectors under our coverage, performance was positive as 4 indices gained, 1 index lost while the Industrial Goods index remained flat. The Banking and Insurance indices led the gainers, up 0.4% apiece, due to buying interest in ZENITH (+0.6%), WEMABANK (+9.5%), LINKASSURE (+9.5%), and AIICO (+1.0%). Similarly, the Consumer Goods and AFR-ICT indices rose by 2bps and 1bp respectively, on the back of price appreciation in PZ (+8.6%), VITAFOAM (+2.3%), and CWG (+9.6%). On the contrary, the Oil & Gas index was the lone loser, down 1.3% mainly driven by sell pressure on OANDO (-8.5%).

Investors sentiment, as measured by market breadth (advance/decline ratio), remained unchanged at 1.3x as 20 stocks gained while 15 stocks lost. TRIPPLEG (+10.0%), IKEJAHOTEL (+9.8%), and CWG (+9.6%) led gainers while ROYALEX (-9.8%), OANDO (-8.5%), and MBENEFIT (-7.0%) led decliners. In the last trading session of the the week, we expect negative performance to be sustained on continued profit taking.

Market Statistics for Thursday, 1st July 2021 

Market Cap (N’bn)19,755.9
Market Cap (US$’bn)48.1
NSE All-Share Index37,898.59
Daily Performance %0.0
WTD Performance %0.6
MTD Performance %(1.4)
QTD Performance %0.0
YTD Performance %(5.9)
Daily Volume (Million)205.5
Daily Value (N’bn)2.7
Daily Value (US$’m)6.6

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