Nigerian Equities market sustain gains… ASI up 0.1%

At the close of trade today, the  All-Share index appreciated 11bps to 40,341.05 points as a result of gains in FLOURMILL (+6.9%), MOBIL (+9.4%) and WAPCO (+1.4%). Consequently, the YTD return improved to 0.2% while market capitalisation advanced by ₦23.6bn to settle at ₦21.1tn. Activity level retreated as volume and value traded declined 59.9% and 12.6% respectively to 468.1 units and ₦7.0bn. The most traded stocks by volume were ZENITH (45.8m units), LASACO (40.7m units) and UBA (31.8m units) while MTNN (₦2.2bn), ZENITH (₦1.2bn) and GUARANTY (₦592.7m) topped by value.

Performance across sectors was positive as all indices under our coverage gained save the AFR-ICT index that closed flat. The Insurance index led the gainers, advancing 4.1% due to price uptick in MANSARD (+9.5%), CUSTODIAN (+2.6%) and AIICO (+2.6%). Similarly, the Oil & Gas and Consumer Goods indices appreciated 1.7% and 0.1% respectively due to buying interest in MOBIL (+9.4%) and FLOURMILL (+6.9%). The Banking and Industrial Goods indices also gained 8bps apiece as ACCESS (+1.1%), ZENITH (+0.4%), and WAPCO (+1.4%) ticked higher. 

Investor sentiment as measured by market breadth (advance/decline ratio) increased to 1.9x from the 1.3x recorded previously as 31 stocks advanced against 16 decliners. ACADEMY (+10.0%), VERITASKAP (+10.0%) and SOVRENINS (+10.0%) were the best-performing tickers while CHELLARAMS (-10.0%), LIVESTOCK (-9.7%) and CHIPLC (-8.8%) were the losers. We believe the positive sentiment would be sustained till the close of the week.

Market Statistics for Wednesday, 13th January 2021 

Market Cap (N’bn) 21,093.5
Market Cap (US$’bn) 54.6
NSE All-Share Index 40,341.05
Daily Performance % 0.1
WTD Performance % 0.6
MTD Performance % 0.2
QTD Performance % 0.2
YTD Performance % 0.2
Daily Volume (Million) 468.1
Daily Value (N’bn) 7.0
Daily Value (US$’m) 18.0

Categories: Finance,News,Stock Market

Comments are closed