Home Stock Market Stock market kicks off the week in green, investors gain N21.6bn

Stock market kicks off the week in green, investors gain N21.6bn

by Business News Report

The domestic equities market kicked off the week with a bullish performance driven by bargain hunting in DANGCEM (+0.6%), GTCO (+0.8%), and FBNH (+1.2%). Accordingly, NGX All-Share Index gained 10bps to 42,394.71 points, market capitalisation rose ₦21.6bn to ₦22.1tn while YTD return advanced to 5.3% from 5.2%. Trading activity weakened as volume and value traded fell 58.4% and 29.7% respectively to 142.2m units and ₦2.5bn. FBNH (20.2m units), GTCO (10.6m units), and SOVRENINS (10.1m units) led by volume while DANGCEM (₦726.3m), MTNN (₦357.2m), and GTCO (₦270.9m) led by value.

Across the sectors within our coverage, performance was mixed as 3 indices gained while 3 lost. The Industrial Goods index led gainers, up 31bps due to buying interest in DANGCEM (+0.6%). Trailing, the Banking and Consumer Goods indices gained 29bps and 3bps respectively due to bargain hunting in GTCO (+0.8%), FBNH (+1.2%), HONYFLOUR (+1.5%), and CADBURY (+1.2%). On the flip side, the Insurance index lost the most, down 48bps due to sell pressure on WAPIC (-1.9%) and CHIPLC (-6.9%). Similarly, the Oil & Gas and AFR-ICT indices shed 41bps and 30bps respectively following losses in OANDO (-2.1%) and MTNN (-0.6%).

Investor sentiment, as measured by market breadth (advance/decline ratio), improved to 1.9x from 1.1x as 21 stocks advanced while 11 stocks declined. NEIMETH (+9.8%), UPDC (+9.4%), and ROYALEX (+8.7%) led gainers while CILEASING (-8.7%), CHIPLC (-6.9%), and WAPIC (-5.9%) led decliners. We expect the improved investor sentiment to sustain bullish performance in the next trading session.

Market Statistics for Monday, 20th December 2021 

Market Cap (N’bn)22,128.9
Market Cap (US$’bn)53.8
NGX All-Share Index42,394.71
Daily Performance %0.1
WTD Performance %0.1
MTD Performance %(2.0)
QTD Performance %5.4
YTD Performance %5.3
Daily Volume (Million)142.1
Daily Value (N’bn)2.5
Daily Value (US$’m)6.0

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