It keeps getting better for Nigerian Stock Market Investors, as trading on Tuesday ended with another robust gain. The benchmark All-Share Index appreciated by 1.25%, with the wealth of Investors increasing by N211.132 billion.
This makes it 2 days of gain out of 2 days of trading this week. Trading on Monday ended with 3.96% gain, and a strong investor sentiment.
Just as the preceding session, multiple stocks attained the maximum gain attainable on a single day of trading; CADBURY, GLAXOSMITH, NEIMETH, NASCON, NNFM, OANDO. TRANSCORP. ETRANSACT, WAPIC, LIVESTOCK, PRESTIGE, LINKASSURE, WEMABANK, REDSTAREX, JAPAULOIL. DANGSUGAR, and ARDOVA.
Activity Level
The activity level waned on the day as both volume and value of shares traded decreased. The volume of traded stocks declined by 9.00% while the value of stocks traded declined by 6.08%.
A total of 578,779,229 shares valued at N7.743 billion was traded 7,651 deals.
For the second day running this week, ZENITHBANK was the most traded stock by both volume and value, with 67,914,245 shares valued at N1.621 billion exchanging hands in 752 deals.
FBNH with 64,722,481 traded stocks, and ACCESS with 60,236,489 traded stocks make up the second and third most traded stocks by volume respectively.
While GUARANTY with N1.208 billion worth of shares and DANGCEM with N556.254 million worth of shares were the second and third most traded stocks by value respectively.
The most activity was observed on ZENITHBANK stocks where 752 deals were made, followed by FBNH with 473 deals and ACCESS with 469 deals.
Performances of Indices
As was observed on Monday, all the five indices under our watch also closed in positive on Tuesday.
- Insurance Index: +3.28% (LINKASSURE +8.9%, CUSTODIAN +1.8%)
- Oil and Gas Index: +1.32% (OANDO +9.7%, ARDOVA +7.1%)
- Banking Index: +0.93% (ZENITH +2.3%, WEMA +10.0%)
- Consumer Goods Index: +0.75% (DANGSUGAR +7.2%, NB +1.0%)
- Industrial Goods Index: +0.2
Investor Sentiment
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 3.5x from the 4.5x recorded in the previous day as 39 tickers gained against the 11 that declined.
Top five gainers by percentage;
- CADBURY rose by 10.00% to close at N9.35
- GLAXOSMITH rose by 10.00% to close at N6.60
- NEIMETH rose by 10.00% to close at N2.20
- NASCON rose by 9.96% to close at N15.45
- NNFM rose by 9.92% to close at N6.65
Top five losers by percentage;
- ABCTRANS lost 8.82% to close at N0.31
- PZ lost 5.38% to close at N4.40
- CHAMS lost 4.35% to close at N0.22
- UCAP lost 3.17% to close at N4.28
- LASACO lost 2.86% to close at N0.34
Corporate Disclosures
- Ellah Lakes Plc – Quarter 1 Financial Statement for 2021
- Union Homes Real Estate Investment Trust (REIT) – UH REIT Resolutions for 2020 Financial Year General Meeting
- Mutual Benefits Assurance Plc – Quarter 3 – Financial Statement for 2020
Analysts Outlook
We expect the same momentum to continue, through the week.
By; Nnamdi M.
