Home Finance Nigerian Stock market sustains gain… ASI up 14bps 

Nigerian Stock market sustains gain… ASI up 14bps 

by Business News Report

At the close of trade, the equities market trended northward due to buying interest in WAPCO (+3.5%), ZENITH (+1.2%) and GUARANTY (+1.0%). Consequently, the benchmark index rose 14bps to 40,221.30 points, YTD loss improved to -0.1% and market capitalisation rose ₦29.5bn to ₦21.0tn. Trading activity improved as volume and value advanced 38.9% and 84.2% to 469.6m units and ₦7.1bn respectively. The most traded stocks by volume were ZENITH (154.6m units), GUARANTY (48.8m units) and FBNH (25.3m units) while ZENITH (₦4.1bn), GUARANTY (₦1.5bn) and FBNH (₦185.6m) led by value.

Performance across sectors was mixed as 3 of the 6 indices under our coverage closed southward. The Insurance index led laggards, down 1.9% due to sell-offs in WAPIC (-6.9%), CORNERST (-7.8%) and MANSARD (-1.8%). Similarly, the Consumer Goods and AFR-ICT indices closed lower at 0.3% and 3bps respectively following price depreciation in FLOURMILL (-6.9%) and MTNN (-0.1%). Conversely, the Banking and Oil & Gas indices rose 0.8% apiece due to buying interest in ZENITH (+1.2%), GUARANTY (+1.0%), OANDO (+10.0%) and JAPAULGO (+9.2%). Lastly, the Industrial Goods index inched higher by 0.2% on the back of gains in WAPCO (+3.5%).

Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.0x from the 0.7x recorded previously as 19 stocks advanced against 20 losers. OANDO (+10.0%), ABCTRANS (+9.4%) and ROYALEX (+8.7%) were the top gainers while LASACO (-9.5%), CHIPLC (-8.3%) and CORNERST (-7.8%) were the top losers. We expect corporate earnings release and dividend information to guide the direction of the market this week.

Market Statistics for Wednesday, 24th February 2021 

Market Cap (N’bn)21,044.0
Market Cap (US$’bn)54.5
NSE All-Share Index40,221.30
Daily Performance %0.1
WTD Performance %0.1
MTD Performance %(5.2)
QTD Performance %(0.1)
YTD Performance %(0.1)
Daily Volume (Million)469.6
Daily Value (N’bn)7.1
Daily Value (US$’m)18.3

Related Posts