Home Finance Stock market reverses gains… ASI down 1bp

Stock market reverses gains… ASI down 1bp

by Business News Report

Today, the domestic equities market reversed the previous trading session gain as the benchmark index fell 1bp to 37,866.90 points due to sell-offs in NIGERIAN BREWRIES (-3.3%), GTCO (-0.5%) and DANGSUGAR (-4.7%). Consequently, YTD loss was unchanged at -6.0% while market capitalisation declined by ₦2.9bn to ₦19.7tn. Trading activities waned as volume and value traded fell by 18.9% and 56.6% respectively to 159.9m units and ₦927.9m. The most traded stocks by volume were SOVRENINS (14.9m units), FIDELITY (13.5m units), and WAPIC (19.5m units) while MTNN (₦145.5m), ZENITH (₦86.1m), and NIGERIAN BREWRIES (₦71.9m) led by value.

Across sectors under our coverage, performance was bullish as 4 indices gained, 1 lost while AFR-ICT index closed flat. The Oil & Gas and Banking indices gained 0.8% and 0.7% respectively on the back of buying interest in OANDO (+6.3%), ZENITH (+1.2%) and STANBIC (+0.7%). Similarly, the Insurance and Industrial Goods indices inched higher by 30bps and 4bps respectively due to price appreciation in AIICO (+9.5%) and WAPCO (+0.7%). Conversely, the Consumer Goods index dipped by 0.7% due to sell pressure on INTBREW (-0.9%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.2x from 1.5x recorded in the last trading session as 18 stocks gained while 15 stocks lost. SOVRENINS (+10.0%), FTNCOCOA (+9.8%), and CWG (+9.6%) led gainers while IKEJAHOTEL (-9.3%), WAPIC (-8.5%) and UPL (-7.2%) led decliners. We expect the domestic equities market to close in the red for the week.

Market Statistics for Thursday, 15th July 2021 

Market Cap (N’bn)19,729.2
Market Cap (US$’bn)48.0
NSE All-Share Index37,866.90
Daily Performance %0.0
WTD Performance %(0.3)
MTD Performance %(0.1)
QTD Performance %(0.1)
YTD Performance %(6.0)
Daily Volume (Million)160.0
Daily Value (N’bn)0.9
Daily Value (US$’m)2.3

Source: Afrinvest

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