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Stock market record marginal gains

by Business News Report

Today, the local bourse recorded a mild gain of 3bps, due to buying interest in ACCESS (+2.2%), ZENITH (+0.4%), and PRESCO (+3.7%) as the All-Share index rose to 38,927.83 points. Consequently, YTD loss improved to -3.3% while market capitalisation rose by ₦5.1bn to ₦20.3tn. Trading activity declined as volume and value traded fell by 10.9% and 49.8% respectively to 206.3m units and ₦1.1bn. The most traded stocks by volume were STERLNBANK (51.8m units), TRANSCORP (19.2m units), and UBA (17.2m units) while UBA (₦129.8m), SEPLAT (₦100.3m), and GTCO (₦87.1m) led by value.

Performance across sectors under our coverage was mixed as 3 indices lost, 2 gained while the AFR-ICT index closed flat. The Oil & Gas index led the losers, down 0.6% due to sell-offs in OANDO (-3.4%) and ETERNA (-0.5%). Followed by the Insurance and Consumer Goods indices which fell by 18bps and 4bps respectively due to price depreciation in MBENEFIT (-2.7%), AIICO (-3.0%), and UNILEVER (-0.7%). On the flip side, the Banking and Industrial Goods indices advanced by 56bps and 4bps respectively on the back of bargain hunting in ACCESS (+2.2%), ZENITH (+0.4%), and WAPCO (+0.5%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 0.9x from 0.4x recorded in the last trading session as 16 stocks advanced while 18 stocks declined. CUTIX (+10.0%), VERITASKAP (+8.7%), and TRIPPLEG (+7.8%) led gainers while SOVRENINS (-7.1%), REGALINS (-6.7%), and UNITYBANK (-5.0%) led decliners. In the next trading session, we expect a positive performance in the market, as investors continue to engage in bargain hunting activities.

Market Statistics for Wednesday, 4th August 2021 

Market Cap (N’bn)20,282.0
Market Cap (US$’bn)49.3
NSE All-Share Index38,927.83
Daily Performance %0.0
WTD Performance %1.0
MTD Performance %1.0
QT Performance %2.7
YTD Performance %(3.3)
Daily Volume (Million)206.3
Daily Value (N’bn)1.1
Daily Value (US$’m)2.6

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