Nigerian Stock market sustains gain… ASI up 1.3%

Today, the domestic equities market closed positive as the benchmark index advanced by 125bps to 34,769.00 points, following buying interest in DANGCEM (+2.6%), AIRTELAF (+1.9%) and DANGSUGAR (+5.9%). Consequently, investors gained ₦223.9bn as market capitalisation rose to ₦18.2tn while YTD return improved to 29.5%. Activity level strengthened as volume and value traded increased by 19.0% and 47.4% to 434.9m units and ₦6.9bn respectively. The most traded stocks by volume were TRANSCORP (84.5m units), ZENITH (59.2m units) and ACCESS (29.9m units) while DANGCEM (₦2.2bn), ZENITH (₦1.5bn) and GUARANTY (₦768.5m) led by value.

Performance across sectors was bullish as 5 of the 6 indicators under our coverage closed in the green. The Banking and Industrial Goods indices gained, up 1.6% apiece due to buying interest in ZENITH (+1.7%), GUARANTY (+1.2%), DANGCEM (+2.6%) and WAPCO (+3.4%). Similarly, the Insurance and AFR-ICT indices rose 1.4% and 1.0% respectively, following price appreciation in MANSARD (+9.8%) and AIRTELAF (+1.9%). Price uptick in FLOURMILL (+9.8%) and GUINNESS (+2.9%) drove the Consumer Goods index higher by 0.7%. Conversely, sell-offs in OANDO (-6.6%) dragged the Oil & Gas index lower by 0.6%.

Investor sentiment as measured by market breadth (advance/decline ratio) rose to 3.4x from the 1.6x recorded previously as 37 stocks gained against the 11 that declined. MAYBAKER (+10.0%), UPDCREIT (+9.9%) and ETERNA (+9.9%) led the top gainers while TRANSEXPR (-9.4%), ABCTRANS (-8.6%) and CORNERST (-7.9%) led  the decliners. In the next trading session, we expect the market to close positive as equities continue to present attractive opportunities.

Market Statistics for Wednesday, 25th November 2020 

Market Cap (N’bn) 18,166.9
Market Cap (US$’bn) 47.1
NSE All-Share Index 34,769.00
Daily Performance % 1.2
WTD Performance % 1.9
MTD Performance % 13.9
QTD Performance % 29.6
YTD Performance % 29.5
Daily Volume (Million) 434.9
Daily Value (N’bn) 6.9
Daily Value (US$’m) 17.9

Source: Afrinvest

Categories: Finance,News,Stock Market

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