Home Stock Market Stock market records gains, ASI up 0.5%

Stock market records gains, ASI up 0.5%

by Business News Report

Today, the local bourse reversed yesterday’s losses on the back of buying interests in DANGCEM (+2.3%), OKOMUOIL (+10.0%) and DANGSUGAR (+2.9%) as the All-Share index increased by 0.5% to 38,881.70 points. Consequently, YTD loss improved to -3.4% while market capitalisation rose by ₦101.8bn to ₦20.3tn. Trading activity strengthened as volume and value traded rose by 3.7% and 6.0% to 218.5m units and ₦1.6bn respectively. The most traded stocks by volume were COURTVILLE (35.8m units), FIDELITY (26.6m units), and ZENITH (15.3m units) while ZENITH (₦349.3m), GUARANTY (₦291.3m), and DANGCEM (₦107.8m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices lost while 3 indices gained. The Insurance index led the laggards, down 1.0% due to sell pressure on MANSARD (-2.3%) and REGALINS (-8.2%). Similarly, the Banking and AFR-ICT indices lost 5bps and 1bp respectively due to price depreciation in ACCESS (-0.6%), FBNH (-0.7%), and CWG (-9.4%). Conversely, the Industrial Goods index led the gainers, up 1.1% following price appreciation in DANGCEM (+2.3%). Similarly, the Consumer Goods and Oil & Gas indices rose by 0.6% and 0.1% respectively on the back of buying interests in FLOURMILL (+2.5%), UNILEVER (+3.9%), ETERNA (+2.6%), and OANDO (+0.3%). 

Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 0.9x  from 0.5x in the last trading session as 15 stocks advanced while 17 stocks declined. OKOMUOIL (+10.0%), LEARNAFRICA (+9.0%) and CHAMPION (+4.7%) led gainers while CWG (-9.4%), REGALINS (-8.2%), and VERITASKAP (-7.7%) led decliners. In the coming trading session, we anticipate the domestic bourse would extend its positive performance driven by bargain hunting.

Market Statistics for Tuesday, 8th June 2021 

Market Cap (N’bn)20,266.1
Market Cap (US$’bn)49.3
NSE All-Share Index38,881.7
Daily Performance %0.5
WTD Performance %0.4
MTD Performance %1.2
QTD Performance %(0.4)
YTD Performance %(3.4)
Daily Volume (Million)218.5
Daily Value (N’bn)1.6
Daily Value (US$’m)3.9

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