Home Finance Nigerian Stock market extends losses… ASI down 8bps 

Nigerian Stock market extends losses… ASI down 8bps 

by Business News Report

The equities market started the week on a bearish note as the benchmark index fell 8bps to 40,154.09 points following sell pressures in WAPCO (-8.0%), FIDELITY (-3.2%) and UCAP (-5.5%). Accordingly, the YTD loss worsened to -0.3% while market capitalisation declined ₦17.1bn to settle at ₦21.0tn. Trading activity was mixed as volume dipped 6.0% to 289.3m units while value improved by 23.0% to ₦3.6bn. The most traded stocks by volume were FBNH (57.6m units), UCAP (27.4m units) and GUARANTY (26.8m units) while GUARANTY (₦820.5m), ZENITH (₦540.3m) and MTNN (₦464.7m) led by value.

Across sectors under our coverage, performance  was mixed. The Banking and Oil & Gas indices gained 0.2% and 0.1% respectively due to price upticks in STANBIC (+3.4%), UBA (+1.2%) and OANDO (+1.0%). Conversely, sell-offs in WAPCO (-8.0%) drove the Industrial Goods index lower by 0.6%. The Insurance and Consumer Goods indices also declined 0.1% apiece as AIICO (-2.6%), NEM (-2.4%) and UNILEVER (-2.5%) lost. Lastly, the AFR-ICT closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.8x from the 0.9x recorded previously as 19 stocks advanced against 25 decliners. UPDCREIT (+9.3%), CHIPLC (+9.1%) and ACADEMY (+8.6%) were the top gainers while AFRIPRUD (-9.6%), LASACO (-9.5%) and NIGERINS (-8.7%) were the top losers. We expect corporate earnings release to guide the direction of the market this week.

Market Statistics for Monday, 22nd February 2021 

Market Cap (N’bn)21,008.8
Market Cap (US$’bn)54.4
NSE All-Share Index40,154.09
Daily Performance %(0.1)
WTD Performance %(0.1)
MTD Performance %(5.3)
QTD Performance %(0.3)
YTD Performance %(0.3)
Daily Volume (Million)289.3
Daily Value (N’bn)3.6
Daily Value (US$’m)9.3

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