Home Stock Market Nigerian Stock market investors gain N45.3bn

Nigerian Stock market investors gain N45.3bn

by Business News Report

The stock market sustained previous day’s positive performance as gains in NIGERIAN BREWERIES (+5.4%), UBA (+4.8%) and ETI (+6.4%) drove the benchmark index up 34bps to settle at 25,413.76 points. As a result, investors gained ₦45.3bn as market capitalisation advanced to ₦13.3tn while YTD loss moderated to -5.3%. Activity level was mixed as volume traded spiked 255.6% to 1.1bn units while value traded declined -19.9% to ₦2.1bn. The top traded stocks by volume were ACCESS (22.7m units), GUARANTY (10.9m units) and FIDELITY (8.5m units) while DANGCEM (₦356.2m), GUARANTY (₦279.4m) and ACCESS (₦150.0m) led by value.

Performance across sectors was bullish as 4 of 6 indices under our coverage closed in the green. The Banking and Consumer Goods indices were the best performers, up 107bps and 88bps respectively owing to price upticks in UBA (+4.8%), ACCESS (+3.2%) and NIGERIAN BREWERIES (+5.4%). Similarly, gains in AIICO (+5.6%) and MTNN (+0.2%) buoyed the Insurance and AFR-ICT indices higher by 80bps and 9bps respectively. On the flip side, the Industrial Goods index was the lone loser, down 12bps due to sell pressures in DANGCEM (-0.7%) while the Oil & Gas index closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio) climbed to 3.0x from the 0.7x recorded previously as 27 stocks gained against the 9 that declined. The top gainers were LIVESTOCK (+10.0%), ETERNA (+9.5%) and JAIZBANK (+8.9%) while WAPIC (-5.7%), UBN (-5.7%) and PZ (-2.4%) lost the most. We expect the soft gains to be sustained on the back of improved investor appetite.

Market Statistics for Tuesday, 1st September 2020 

Market Cap (N’bn) 13,258.1
Market Cap (US$’bn) 34.3
NSE All-Share Index 25,413.76
Daily Performance % 0.3
WTD Performance % 0.4
MTD Performance % 0.4
QTD Performance % 3.8
YTD Performance % (5.3)
Daily Volume (Million) 1073.8
Daily Value (N’bn) 1.2
Daily Value (US$’m) 5.5

Source: Afrinvest

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