Home Finance Nigerian stock market opens positive… ASI up 0.7%

Nigerian stock market opens positive… ASI up 0.7%

by Business News Report

The domestic equities market opened the week positive as the All-Share Index rose 71bps to 39,493.37 points due to buying interest in MTNN (+3.1%), GUARANTY (+4.3%), and WAPCO (+2.6%). YTD loss improved to -1.9% and investors gained ₦145.0bn as market capitalisation rose to ₦20.7tn. Trading activity advanced as volume and value surged 108.1% and 281.8% respectively to 522.2m units and ₦10.7bn. The most traded stocks by volume were GUARANTY (230.4m units), UBN (79.2m units), and WEMABANK (51.9m units) while GUARANTY (₦7.4bn), DANGCEM (₦1.0bn), and MTNN (₦455.6m) led by value.

Across sectors that we cover, performance was bullish as 4 indicators closed in the green. The Banking index led the gainers, up 2.1% due to buying interest in GUARANTY (+4.3%), ETI (+6.0%), and UBA (+1.5%). Similarly, the AFR-ICT and Insurance indices rose 1.5% and 0.6% respectively on account of price appreciation in MTNN (+3.1%), CUSTODIAN (+10.0%) and MANSARD (+2.0%). Gains in GUINNESS (+3.8%) and INTBREW (+0.9%) drove the Consumer Goods index up by 0.2%. On the flip side, sell-offs in OANDO (-6.1%) and DANGCEM (-0.4%) dragged the Oil & Gas and Industrial Goods indices lower by 0.5% and 0.1% respectively.

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 2.3x from the 1.5x recorded previously as 28 stocks gained against 12 decliners. COURTVILLE (+10.0%), CUSTODIAN (+10.0%) and LINKASSURE (+9.6%) were the top gainers while SOVRENINS (-8.3%), NPFMCRFBK (-7.2%) and PRESTIGE (-6.8%) were the top decliners. In subsequent trading sessions, we anticipate a mix of buying interest and profit-taking in the equities market.

Market Statistics for Monday, 29th March 2021 

Market Cap (N’bn)20,663.1
Market Cap (US$’bn)53.5
NSE All-Share Index39,493.37
Daily Performance %0.7
WTD Performance %0.7
MTD Performance %(0.8)
QTD Performance %(1.9)
YTD Performance %(1.9)
Daily Volume (Million)522.2
Daily Value (N’bn)10.7
Daily Value (US$’m)27.6

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