Home Stock Market Nigerian Stock market halts downtrend… Up 1.8%

Nigerian Stock market halts downtrend… Up 1.8%

by Business News Report

The benchmark index reversed the previous session loss, gaining 1.8% to close at 39,461.20 points following price appreciation in DANGCEM (+7.8%), MTNN (+3.9%), and NIGERIAN BREWERIES (+1.9%). Consequently, YTD loss improved to -2.0% while market capitalisation rose ₦355.7bn to ₦20.7tn. Trading activity improved as volume and value traded rose 4.3% and 6.3% to 270.7m units and ₦2.0bn respectively. The most traded stocks by volume were FBNH (51.5m units), TRANSCORP (42.5m units) and EKOCORP (20.0m units) while FBNH (₦359.8m), DANGCEM (₦313.6m), and ZENITH (₦217.3m) led by value.

Across sectors under our coverage, performance was mixed as 3 indicators gained, 2 lost while the Oil & Gas index closed flat. The Industrial Goods index led the gainers, up 3.6% due to buying interest in DANGCEM (+7.8%). Also, the AFR-ICT and Insurance indices gained 1.9% and 1.4% respectively on the back of price appreciation in MTNN (+3.9%), AIICO (+5.7%), and LINKASSURE (+7.0%). Conversely, the Banking and Consumer Goods indices fell 1.4% and 0.2% respectively due to sell-offs in GUARANTY (-3.1%), FBNH (-6.1%), DANGSUGAR (-7.8%), and HONYFLOUR (-3.8%). 

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.4x from the 0.9x recorded in the previous session as 24 stocks advanced while 17 declined. JBERGER (+10.0%), FIDSON (+10.0%) and EKOCORP (+9.3%) were the top gainers while CWG (-9.8%), MBENEFIT (-7.5%) and FBNH (-6.8%) were the top decliners. We expect the market to sustain the positive performance in the last trading session of the week.

Market Statistics for Thursday, 29th April 2021 

Market Cap (N’bn)20,651.9
Market Cap (US$’bn)53.5
NSE All-Share Index39,461.20
Daily Performance %1.8
WTD Performance %0.4
MTD Performance %1.1
QTD Performance %1.1
YTD Performance %(2.0)
Daily Volume (Million)270.7
Daily Value (N’bn)2.0
Daily Value (US$’m)5.3

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