NSE daily report: BUA Cement, Zenith and Access Banks help kickstart the week on a positive note

After a long Christmas break, the Nigeria Stock Exchange resumed trading by 10am on Tuesday. At the end of the full day trading that ended by 2.20pm, the market recorded a positive start to the week.

The NSE All-Share Index advanced by 0.75% to close the day at 39,091.33, while the market capitalization increased to N20.436 billion.

JAPAULGOLD continued its rally, gaining another 8.70% on Tuesday to close at N0.52. On the other hand, FTNCOCOA’s incredible rise was halted, and it turned 180 degrees to close at N0.81, 8.99% lower than its opening price.

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Activity level

The activity level was mixed, as volume of shares traded increased by 55.14% while the value of the traded shares decreased by 59.97%. 604.604 million shares valued at N3.188 billion was traded in 3,724 deals.

AIICO Insurance Plc shares was the most traded by volume, with 273.128 million shares worth N326.092 billion exchanging hands in just 55 deals. Shares of Oando Plc and Champion Breweries Plc were the second and third most traded stocks by volume with 81.449 million and 41.089 million respectively.

Dangote Cement Plc shares was the most traded by value, followed by Zenith Bank Plc and Access Bank Plc shares. N4.142 million shares of Dangote Cement Plc worth 993.171 million was exchanged in 229 deals. Shares of ZENITHBANK worth N742.008 million and that of ACCESS worth N353.273 million were also traded on the day.

Performance of Indices

2 out of the 5 indices under our watch closed in positive, while the other 3 declined.

1. Industrial Goods Index advanced by 2.39% on the back of BUACEMENT (+6.67%) and CUTIX (+2.20%)
2. Banking Index advanced by 1.05% as many banking stocks gained on the day; ZENITHBANK (2.04%), ACCESS (+4.07%) and UBA (+0.59%)
3. Consumer Goods Index declined by 0.05%, pulled back by GUINNESS (-1.03%), and FLOURMILL (-1.61%)
4. Oil and Gas Index also declined by 0.06%, as a result of profit taking in OANDO (-0.55%)
5. Insurance Index dropped by 0.81%, brought down by loses in MANSARD (-4.76%)

Investor Sentiment

Investor Sentiment weakened to 0.9x, from the 2.6x record in the previous trading session, as 18 stocks gained against 20 losers.

The top 5 gainers by percentage are;

1. JAIZBANK gained 10.00% to close at N0.66
2. NEM gained 9.56% to close at N1.49
3. LASACO gained 8.82% to close at N0.37
4. NPFMCRFBK gained 8.39% to close at N1.68
5. JAPAULGOLD gained 8.33% to close at N0.52

Top 5 losers by percentage are;

1. NCR lost 9.68% to close at N1.96
2. FTNCOCOA lost 8.99% to close at N0.81
3. TRANSEXPR lost 8.86% to close at N0.72
4. CHAMS lost 8.70% to close at N0.21
5. MANSARD lost 4.76% to close at N1.00

Outlook

We expect a mixed market performance , driven by profit taking and bargain hunting.

By; Nnamdi M.