Home Stock Market Stock market remains upbeat… ASI up 1.2%

Stock market remains upbeat… ASI up 1.2%

by Business News Report

The market maintained its gaining streak today as the benchmark index advanced 1.2% to settle at 37,893.61 points, underpinned by buying interest in  bellwethers – DANGCEM (+6.3%), UBA (+2.4%) and ZENITH (+0.8%). Consequently, the YTD return rose to 41.2% and market capitalisation advanced ₦235.4bn to settle at ₦19.8tn. Activity level improved as both volume and value traded increased 3.6% and 210.9% to 442.3m units and ₦10.3bn respectively. The most traded stocks by volume were ZENITH (59.0m units), MANSARD (39.2m units) and GUARANTY (38.2m units) while DANGCEM (₦3.2bn), MTNN (₦2.2bn) and ZENITH (₦1.4bn) led by value.

Across the sectors under our coverage, 2 gained, 3 lost while the AFR-ICT index remained unchanged. The Insurance index led the worst performers, dropping 49bps on account of profit-taking in MANSARD (-1.0%) and CHIPLC (-10.0%). Similarly, the Oil & Gas and Consumer Good indicators fell 33bps and 24bps respectively, pulled down by losses in OANDO (-2.9%) and INTBREW (-3.3%). Conversely, the Industrial Goods and Banking indices were up 3.4% and 6bps respectively, driven by gains in DANGCEM (+6.3%), UBA (+2.4%) and ZENITH (+0.8%). 

Investor sentiment as measured by market breadth (advance/decline ratio) decreased to 0.7x from the 1.0x recorded previously as 14 stocks gained against 23 decliners. ETERNA (+10.0%), FTNCOCOA (+8.8%) and DANGCEM (+6.3%) were the best performing tickers while CHIPLC (-10.0%), REDSTAREX (-9.6%) and ABCTRANS (-9.1%) led  the losers. We remain optimistic about a sustained bullish run in the equities market.

Market Statistics for Tuesday, 22nd December 2020 

Market Cap (N’bn) 19,805.45
Market Cap (US$’bn) 51.3
NSE All-Share Index 37,893.61
Daily Performance % 1.2
WTD Performance % 3.0
MTD Performance % 8.1
QTD Performance % 41.2
YTD Performance % 41.2
Daily Volume (Million) 442.2
Daily Value (N’bn) 10.3
Daily Value (US$’m) 26.7

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