Home Finance Nigerian Stock market records first gain of the week… ASI up 3bps 

Nigerian Stock market records first gain of the week… ASI up 3bps 

by Business News Report

Trading in the equities market closed in the green following buying interest in ZENITH (+4.8%), FLOURMILL (+6.2%) and GUARANTY (+0.8%). Consequently, the benchmark index gained 3bps to 40,164.86 points, YTD loss remained at -0.3% and market capitalisation rose ₦5.6bn to ₦21.0tn. Trading activity improved as volume and value advanced 16.8% and 7.6% to 338.0m units and ₦3.8bn respectively. The most traded stocks by volume were FBNH (64.6m units), ZENITH (52.7m units) and TRANSCORP (42.0m units) while ZENITH (₦1.3bn), GUARANTY (₦508.0m) and FBNH (₦471.8m) led by value.

Across sectors under our coverage, performance  was mixed. The Banking index was the lone gainer, up 1.7% due to strong demand for ZENITH (+4.8%), GUARANTY (+0.8%) and UBA (+1.2%). Conversely, the Consumer Goods and Insurance indices declined 1.6% and 0.9% respectively following price declines in NIGERIAN BREWERIES (-8.5%), DANGSUGAR (-2.7%), MANSARD (-3.4%) and CORNERST (-7.3%). Lastly, the AFR-ICT,  Industrial Goods and Oil & Gas indices closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio) waned to 0.7x from the 0.8x recorded previously as 16 stocks advanced against 23 losers. LIVESTOCK (+7.1%), AIICO (+7.1%) and FLOURMILL (+6.2%) were the top gainers while SUNUASSUR (-9.9%), LASACO (-9.9%) and AFRIPRUD (-9.8%) were the top losers. We expect corporate earnings release to guide the direction of the market this week.

Market Statistics for Tuesday, 23rd February 2021

Market Cap (N’bn)21,014.5
Market Cap (US$’bn)54.4
NSE All-Share Index40,164.86
Daily Performance %0.0
WTD Performance %(0.1)
MTD Performance %(5.3)
QTD Performance %(0.3)
YTD Performance %(0.3)
Daily Volume (Million)338.0
Daily Value (N’bn)3.8
Daily Value (US$’m)10.0

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