Home Stock Market Nigerian Equities Market extend gains… ASI up 0.3%

Nigerian Equities Market extend gains… ASI up 0.3%

by Business News Report

The local bourse extended gains for the third consecutive trading session as a result of price appreciation in GUARANTY (+4.2%), WAPCO (+6.8%), and UBN (+5.3%). Accordingly, the All-Share index rose 29bps to close at 39,128.34 points, YTD loss improved to -2.8% while market capitalisation increased by ₦59.0bn to ₦20.5tn. Trading activity declined as volume and value traded fell 29.4% and 38.5% respectively to 239.2m units and ₦1.7bn. The most traded stocks by volume were ACCESS (28.2m units), FIDELITY (17.2m units), and MBENEFIT (16.8m units) while GUARANTY (₦423.1bn), ZENITH (₦276.7m), and ACCESS (₦213.2m) led by value.

Across sectors under our coverage, performance was mixed as 3 of the 6 indicators closed in the green. The Banking index led gainers, up 2.3% due to price appreciation in GUARANTY (+4.2%), UBN (+5.3%), and UBA (+2.1%). Similarly, the Industrial Goods and Oil & Gas indices rose 0.4% and 0.3% respectively due to buying interest in WAPCO (+6.8%), CONOIL (+10.0%), and ETERNA (+9.5%). Conversely, the Insurance and Consumer Goods indices declined 1.3% and 0.4% respectively as investors exited position in NEM (-7.0%), LINKASSURE (-4.8%), GUINNESS (-9.9%) and INTBREW (-0.9%). Finally, the AFR-ICT index closed flat.

Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.0x from the 2.0x recorded in the previous session as 22 stocks advanced against 21 decliners. CONOIL (+10.0%), STUDPRESS (+9.9%) and ETERNA (+9.5%) were the top gainers while GUINNESS (-9.9%), PORTPAINT (-9.8%) and ACADEMY (-9.8%) were the top decliners. In the next trading session, we expect the market to sustain its positive momentum.

Market Statistics for Wednesday, 21st April 2021 

Market Cap (N’bn)20,477.7
Market Cap (US$’bn)53.1
NSE All-Share Index39,128.34
Daily Performance %0.3
WTD Performance %0.8
MTD Performance %0.2
QTD Performance %0.2
YTD Performance %(2.8)
Daily Volume (Million)239.2
Daily Value (N’bn)1.7
Daily Value (US$’m)4.3

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