Home Finance Stock market records gains… ASI up 4bps

Stock market records gains… ASI up 4bps

by Business News Report

Today, the domestic equities market closed positive due to buying interest in MTNN (+0.6%), TOTAL (+6.1%) and FBNH (+0.7%) as the benchmark index rose 4bps to 37,872.55 points. Consequently, YTD loss remained unchanged at -6.0% while market capitalisation increased by ₦7.9bn to ₦19.7tn. Trading activities was mixed as volume traded fell by 2bps to 197.2m units while value traded rose by 11.4% to ₦2.1bn. The most traded stocks by volume were UBA (35.9m units), ACCESS (28.6m units), and ZENITH (17.6m units) while ZENITH (₦424.7m), MTNN (₦332.9m), and GTCO (₦304.5m) led by value.

Across sectors under our coverage, performance was mixed as 2 indices gained, 2 lost while the Industrial and Consumer Goods indices closed flat. The Oil & Gas and AFR-ICT indices gained 0.6% and 0.4% respectively on the back of buying interest in TOTAL (+6.1%) and MTNN (+0.6%). Conversely, the Banking and Insurance indices dipped by 0.9% and 0.3% respectively due to sell pressure on ZENITH (-1.2%), ACCESS (-2.2%), and LINKASSURE (-5.4%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.5x from 1.2x recorded in the last trading session as 17 stocks gained while 11 stocks lost. CAPHOTEL (+10.0%), NCR (+9.9%), and UNITYBNK (+6.8%) led gainers while LINKASSURE (-5.4%), CORNERST (-5.4%) and OANDO (-4.1%) led decliners. In the next trading session, we anticipate a bullish performance on the domestic bourse driven by bargain hunting activities.

Market Statistics for Wednesday, 14th July 2021 

Market Cap (N’bn)19,732.1
Market Cap (US$’bn)48.0
NSE All-Share Index37,872.55
Daily Performance %0.0
WTD Performance %(0.3)
MTD Performance %(0.1)
QTD Performance %(0.1)
YTD Performance %(6.0)
Daily Volume (Million)197.2
Daily Value (N’bn)2.1
Daily Value (US$’m)5.2

Source: Afrinvest

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