Home Stock Market Nigerian Stock market closes negative, ASI down 6bps 

Nigerian Stock market closes negative, ASI down 6bps 

by Business News Report

Sell-offs in ZENITH (-0.7%), SEPLAT (-1.2%) and WAPCO (-0.9%) dragged the equities market southward today, as the benchmark index fell 6bps to close at 38,414.37 points. Consequently, YTD loss fell to -4.6% while market capitalisation declined by ₦12.3bn to settle at ₦20.0tn. Trading activity strengthened as volume and value traded rose by 39.4% and 26.2% to 274.9m units and ₦2.6bn respectively. The most traded stocks by volume were UCAP (24.0m units), VERITASKAP (23.1m units), and ETERNA (21.6m units) while ZENITH (₦470.7m), SEPLAT (₦285.0m), and GUARANTY (₦240.7m) led by value.

Across sectors under our coverage, performance was bearish as 4 indices lost, 1 gained and 1 Closed Flat. The Oil & Gas and Consumer Goods indices fell 0.9% and 0.3% respectively, following price depreciation in  SEPLAT (-1.2%) and HONYFLOUR (-6.6%). Similarly, the Banking and Industrial Goods indices declined 0.1% apiece, due to sell-offs in ZENITH (-0.7%) and WAPCO (-0.9%). Conversely, the Insurance index rose 1.5% on the back of buying interest in WAPIC (+9.4%). However, the AFRI-ICT index closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 1.1x from 0.7x in the last trading session as 18 stocks advanced while 17 declined. MORISON (+9.6%), WAPIC (+9.4%) and UPL (+9.4%) led gainers while CHAMPION (-9.9%), JOHNHOLT (-7.9%) and AFRIPRUD (-7.3%) led decliners. In the next trading session, we expect market performance to remain tepid, due to absence of positive drivers.

Market Statistics for Tuesday, 1st June 2021 

Market Cap (N’bn)20,022.5
Market Cap (US$’bn)48.7
NSE All-Share Index38,414.37
Daily Performance %(0.1)
WTD Performance %0.4
MTD Performance %(0.1)
QTD Performance %(1.6)
YTD Performance %(4.6)
Daily Volume (Million)274.9
Daily Value (N’bn)2.6
Daily Value (US$’m)6.4

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