Home Stock Market Market performance slide on sustained sell pressure… ASI down 0.3%

Market performance slide on sustained sell pressure… ASI down 0.3%

by Business News Report

Today, the local bourse sustained its bearish performance on the back of sell-offs in ZENITH (-1.0%), WEMABANK (-4.4%), and LIVESTOCK (-9.8%). Consequently, the All-Share Index fell 27bps to 39,219.61 points, YTD loss worsened to -2.6% while market capitalisation declined ₦55.8bn to ₦20.4tn. Trading activity improved as volume and value traded rose 41.4% and 28.1% to 425.7m units and ₦2.0bn. The most traded stocks by volume were TRANSCORP (111.1m units), CHAMS (57.5m units), and HONYFLOUR (31.6m units) while ZENITH (₦243.6m), MTNN (₦209.2m), and GTCO (₦190.3m) led by value.

Across sectors under our coverage, performance was bearish as 4 indices closed in the red while the Industrial Goods and AFR-ICT index was flat. The Consumer Goods index led laggards, down 1.9% due to sell-offs In DANGSUGAR (-0.8%), FLOURMILL (-0.5%), and INTBREW (-1.1%). Similarly, the Oil & Gas and Banking indices fell 0.4% apiece, on account of price depreciation in OANDO (-2.9%), ZENITH (-1.0%), and WEMABANK (-4.4%). Finally, profit-taking in AIICO (-3.9%) and WAPIC (-3.9%) dragged the Insurance index lower by 0.3%. 

Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.6x from 1.1x recorded in the previous session as 15 stocks gained while 26 stocks lost. TRANSCOHOT (+10.0%), HONYFLOUR (+9.7%), and MORISON (+9.7%) led the gainers while NIGERIAN BREWERIES (-9.9%), LIVESTOCK (-9.8%), and LASACO (-9.7%) led the losers. We expect market performance to tilt in the bearish direction, as investors continue to search for optimum return.

Market Statistics for Tuesday, 31st August 2021 

Market Cap (N’bn)20,434.1
Market Cap (US$’bn)49.7
NSE All-Share Index39,219.61
Daily Performance %(0.3)
WTD Performance %(0.7)
MTD Performance %1.7
QTD Performance %3.5
YTD Performance %(2.6)
Daily Volume (Million)425.7
Daily Value (N’bn)2.0
Daily Value (US$’m)4.8

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