Home Finance Nigeria Stock Market capitalisation declines by N82.3bn

Nigeria Stock Market capitalisation declines by N82.3bn

by Business News Report

The equities market maintained its downtrend today as the benchmark index fell 40bps to 39,364.67 points due to price declines in NIGERIAN BREWERIES (-3.9%), DANGSUGAR (-6.3%) and UBA (-3.6%). Consequently, YTD return worsened to -2.2% and market capitalisation declined by ₦82.3bn to ₦20.6tn. Trading activity improved as volume and value advanced by 101.8% and 14.4% respectively to 493.2m units and ₦4.7bn. The most traded stocks by volume were UNIVINSURE (83.3m units), ZENITH (38.6m units) and FBNH (31.3m units) while PRESCO (₦1.0bn), ZENITH (₦983.3m) and GUARANTY (₦486.4m) led by value.

Performance across sectors was poor as 4 of the 6 indices under our coverage closed southward. The Industrial Goods index emerged as the lone gainer, up 0.2% due to price appreciation in WAPCO (+3.6%). On the flip side, the Insurance and Banking indices lost 4.0% and 1.5% respectively due to declines in NEM (-10.0%), UBA (-3.6%) and ACCESS (-3.1%). Similarly, the Consumer Goods and Oil & Gas indices closed lower by 1.5% and 0.6% respectively following sell pressures in NIGERIAN BREWERIES (-3.9%), DANGSUGAR (-6.3%) and ARDOVA (-9.9%). Lastly, the AFR-ICT index closed flat. 

Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.3x from the 0.6x recorded previously as 12 stocks advanced against 46 decliners. UPL (+9.9%), MORISON (+9.1%) and CAP (+5.3%) were the top gainers while FIDSON (-10.0%), NNFM (-10.0%) and ENAMELWA (-10.0%) were the top losers. We expect the market to close the week in the red due to persistent sell-offs.

Market Statistics for Thursday, 4th March 2021 

Market Cap (N’bn)20,595.8
Market Cap (US$’bn)53.4
NSE All-Share Index39,364.67
Daily Performance %(0.4)
WTD Performance %(1.1)
MTD Performance %(1.1)
QTD Performance %(2.2)
YTD Performance %(2.2)
Daily Volume (Million)493.2
Daily Value (N’bn)4.7
Daily Value (US$’m)12.2

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