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Nigeria Daily Market Report |Local Bourse Extends Gains... ASI up 0.7%
(Source: Afrinvest Research , Date: 09-Jun-2021)

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Dear Afrinvestor, 

Market Statistics for Wednesday, 9th June 2021 

Market Cap (N'bn)

20,416.8

Market Cap (US$'bn)

49.7

NSE All-Share Index

39,171.0

Daily Performance %

0.7

WTD Performance %

1.1

MTD Performance %

1.9

QTD Performance %

0.3

YTD Performance %

(2.7)

Daily Volume (Million)

181.5

Daily Value (N'bn)

4.0

Daily Value (US$'m)

9.6


Local Bourse Extends Gains... ASI up 0.7%
The local bourse extended the previous day's gains, driven by buying interests in DANGCEM (+2.2%), OKOMUOIL (+9.8%), and GUARANTY (+1.8%) as the All-Share index increased by 0.7% to 39,170.95 points. Consequently, YTD loss improved to -2.7% while market capitalisation rose by ₦150.8bn to ₦20.4tn. Trading activity was mixed as volume traded declined 16.9% to 181.5m units while value traded rose by 149.0% to ₦4.0bn. The most traded stocks by volume were ZENITH (20.8m units), STERLING (19.4m units), and GUARANTY (15.1m units) while NESTLE (₦1.4bn), DANGCEM (₦518.0m), and ZENITH (₦476.1m) led by value.

Bullish Sector Performance
Across sectors under our coverage, performance was bullish as 5 indices gained while the AFR-ICT index closed flat. Leading the gainers was the Industrial Goods index, up 1.3% due to buying interest in DANGCEM (+2.2%) and WAPCO (+4.2%). In the same vein, the Banking and Insurance indices gained 1.3% and 0.4% respectively on the back of price appreciation in GUARANTY (+1.8%), STANBIC (+1.1%), MBENEFIT (+4.6%), and NEM (+0.5%). Similarly, the Consumer Goods and Oil & Gas indices rose by 0.3% and 3bps respectively due to price uptick in FLOURMILL (+2.7%), NASCON (+7.4%), CONOIL (+10.0%), and OANDO (+0.3%)  

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 4.2x  from 0.9x in the last trading session as 25 stocks advanced while 6 stocks declined. CUTIX (+10.0%), OKOMUOIL (+9.8%), and UBN (+9.4%) led gainers while SOVERENINS (-3.6%), JAIZBANK (-3.4%), and FCMB (-1.6%) led decliners. In the coming trading session, we expect the positive performance to be extended on the back of bargain hunting activities in the market.

 

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Best Regards,

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