Home Stock Market Losses in AIRTELAFASI, DANGCEM, Zenith drag Nigerian Stock index

Losses in AIRTELAFASI, DANGCEM, Zenith drag Nigerian Stock index

by Business News Report

Local bourse extended the previous sessions’ negative performance as the All-Share Index fell by 148bps to close at 38,446.09 points due to sell-offs in AIRTELAF (-10.0%), DANGCEM (-0.5%), and ZENITH (-2.1%). Consequently, YTD loss worsened to -4.5% as market capitalisation declined by ₦301.0bn to ₦20.0tn. Trading activity was mixed as volume traded declined by 24.9% to 153.6m units while value traded increased by 32.9% to ₦2.4bn. The most traded stocks by volume were UACN (10.0m units), ZENITH (9.6m units), and FIDELITY (8.7m units) while SEPLAT (₦1.1bn), ZENITH (₦222.8m), and WAPCO (₦111.8m) led by value.

Performance was bearish across sectors under our coverage, as 4 indicators lost while 2 gained. The AFR-ICT index led the laggards, down 5.2% due to sell pressure on AIRTELAF (-10.0%). In the same vein, the Banking and Insurance indices fell by 0.6% apiece on the back of price depreciation in ZENITH (-2.1%), GUARANTY (-0.5%), CUSTODIAN (-2.5%), and AIICO (-3.1%). Similarly, the Consumer Goods index also lost, down 32bps following sell-offs in DANGSUGAR (-3.9%), and INTBREW (-0.9%). Alternatively, the Oil & Gas and Industrial Goods indices rose by 7.1% and 0.9% respectively as a result of buying interest in SEPLAT (+10.0%), MRS (+10.0%), and DANGCEM  (+0.5%). 

Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 0.9x from the 0.7x recorded in the previous trading session as 23 stocks advanced while 25 declined. SEPLAT (+10.0%), MRS (+10.0%), and STERLNBANK (+9.7%) led gainers while AIRTELAF (-10.0%), CILEASING (-10.0%), and BOCGAS (-10.0%) led decliners. In the coming trading session, we expect the local bourse to extend the bearish performance.

Market Statistics for Wednesday, 19th May 2021 

Market Cap (N’bn)20,038.5
Market Cap (US$’bn)51.9
NSE All-Share Index38,446.09
Daily Performance %(1.5)
WTD Performance %(2.6)
MTD Performance %(3.5)
QTD Performance %(1.5)
YTD Performance %(4.5)
Daily Volume (Million)153.6
Daily Value (N’bn)2.4
Daily Value (US$’m)6.3

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