Home Stock Market Stock market inches higher as investors gain N29.9bn

Stock market inches higher as investors gain N29.9bn

by Business News Report

Equity trading activities on Lagos Customs street today closed positively, as investors cherry-pick on SEPLAT (+1.5%), MTNN (+1.2%), and ZENITH (+0.1%). As a result, the All-Share Index rose 15bps to 38,564.70 points, YTD loss improved to -4.2% while market capitalisation rose by ₦29.9bn to ₦20.1tn. Trading activity was mixed as volume traded rose 1.8% to 302.7m units, while value traded fell by 23.2% to settle at ₦2.8bn. The most traded stocks by volume were STERLING (37.5m units), ETI (27.4m units), and WEMABANK (27.1m units) while GUARANTY (₦745.3m), SEPLAT (₦506.8m), and ZENITH (₦228.6m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices gained, while the other 3 lost. The Oil & Gas index led gainers, up 0.9% amid buy interest in SEPLAT (+1.5%). Likewise, the AFR-ICT and Consumer Goods indices rose by 0.7% and 0.2% respectively following price appreciation in MTNN (+1.2%), DANGSUGAR (+0.3%), and UNILEVER (+1.9%). Conversely, the Insurance, Banking, and Industrial Goods indices declined by 0.5%, 0.3%, and 3bps respectively due to sell-offs on CHIPLC (-9.5%), GUARANTY (-1.6%), and WAPCO (-0.1%).

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.3x from 0.7x recorded in the last trading session as 27 stocks advanced while 21 stocks declined. CORNERST (+10.0%), MORISON (+9.7%), and LEARNAFRICA (+6.5%) led gainers while ABBEYBDS (-9.5%), CHIPLC (-9.5%), and CWG (-7.3%) led decliners. We expect market sentiment to be a mix of bargain hunting and profit-taking in tomorrow’s trading session.

Market Statistics for Wednesday, 16th June 2021 

Market Cap (N’bn)20,099.3
Market Cap (US$’bn)48.9
NSE All-Share Index38,564.70
Daily Performance %0.1
WTD Performance %(1.5)
MTD Performance %0.3
QTD Performance %(1.2)
YTD Performance %(4.2)
Daily Volume (Million)302.7
Daily Value (N’bn)2.8
Daily Value (US$’m)6.8

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