NGX Daily Equities Market Report: NGX ASI (-0.79%) decline for the third consecutive day

Coming from losses on Tuesday and Wednesday, the Nigerian Exchange equities market suffered its third consecutive day of decline on Thursday, dropping by 0.79% to close at 38,791.03 points.

Thursday’s negative performance was due to sell pressure in stocks like BUACEMENT (-5.21%), GTCO (-1.69%), and DANGSUGAR (-1.62%).

With Thursday’s decline, the YTD performance worsened to -4.4%. The market capitalization declined by N159.5bn to N20.05tn.

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Given that it is the earnings season, multiple companies released financial statements;

1. Union Dicon Salt Plc released its Quarter 2 Financial Statements for 2021.
2. MRS Oil Nigeria Plc released its Quarter 2 Financial Statements for 2021.
3. Chemical and Allied Products Plc released its Quarter 2 Financial Statements for 2021.
4. Axa Mansard Insurance Plc released its Quarter 2 Financial Statements for 2021.
5. Jaiz Bank Plc released its Quarter 2 Financial Statements for 2021.
6. Abbey Mortgage Bank Plc released its Quarter 2 Financial Statements for 2021.
7. UAC of Nigeria Plc released its Quarter 2 Financial Statements for 2021.
8. Nigerian Aviation Handling Company Plc released its Quarter 2 Financial Statements for 2021.
9. Nigerian Enamelware Plc released its Quarter 2 Financial Statements for 2021.
10. Regency Alliance Insurance Plc released its Quarter 2 Financial Statements for 2021.
11. Lasaco Assurance Plc released its Quarter 2 Financial Statements for 2021.
12. Ekocorp Plc released its Quarter 2 Financial Statements for 2021.
13. John Holt Plc released its Quarter 3 Financial Statements for 2021.
14. Red Star Express Plc released its Quarter 1 Financial Statements for 2021.
15. Transnational Corporation of Nigeria Plc released its Quarter 2 Financial Statements for 2021.
16. Learn Africa Plc released its Quarter 1 Financial Statements for 2021.
17. Dangote Sugar Refinery Plc released its Quarter 2 Financial Statements for 2021.
18. NEM Insurance Plc released its Quarter 2 Financial Statements for 2021.
19. Wema Bank Plc released its Quarter 2 Financial Statements for 2021.
20. University Press Plc released its Quarter 1 Financial Statements for 2021.
21. NPF Microfinance Bank Plc released its Quarter 2 Financial Statements for 2021.
22. International Breweries Plc released its Quarter 2 Financial Statements for 2021.
23. Union Bank Plc released its Quarter 2 Financial Statements for 2021.
24. Tantalizers Plc released its Quarter 2 Financial Statements for 2021.
25. Honeywell Flour Mill Plc released its Quarter 1 Financial Statements for 2021.
26. Caverton Offshore Support Group Plc released its Quarter 2 Financial Statements for 2021.
27. R T Briscoe (Nigeria) Plc released its Quarter 2 Financial Statements for 2021.
28. BUA Cement Plc released its Quarter 2 Financial Statements for 2021.
29. Capital Hotel Plc released its Quarter 2 Financial Statements for 2021.
30. Linkage Assurance Plc released its Quarter 2 Financial Statements for 2021.
31. Cornerstone Insurance Plc released its Quarter 2 Financial Statements for 2021.
32. Glaxo Smithkilne Consumer Nig. Plc released its Quarter 2 Financial Statements for 2021.
33. Veritas Kapital Assurance Plc released its Quarter 2 Financial Statements for 2021.
34. Premier Paints Plc released its Quarter 2 Financial Statements for 2021.
35. Lafarge Africa Plc released its Quarter 2 Financial Statements for 2021.
36. Seplat Energy Plc released its Quarter 2 Financial Statements for 2021.
37. Airtel Africa Plc released its Quarter 1 Financial Statements for 2021.
38. Flour Mills of Nigeria Plc released its Quarter 2 Financial Statements for 2021.

Activity Level

Trading activity improved as average volume and value traded rose by 9.5% and 5.3% to 260.0m units and ₦2.0bn respectively

Shares of OANDO were the most traded by volume with 56.25 million units exchanging hands. This is followed by GTCO with 15.28 million units of shares and JIAZBANK with 148.98 million units.

GTCO shares were the most traded by value with shares worth N444.92 million, followed by OANDO and SEPLAT with their shares worth N288.49 million and N169.57 million exchanging hands respectively.

The top trade by no of deals is OANDO with 948 deals, followed by GTCO with 428 deals and ZENITHBANK with 242 deals.

Performance of Indices under our watch

The performance of the five indices under our watch are as below;

• Insurance Index: +3.24%
• Consumer Goods Index: -0.35%
• Banking Index: -0.81%
• Oil & Gas Index: -1.93%
• Industrial Goods Index: -2.02%

Investor Sentiment

Investors sentiment, as measured by market breadth (advance/decline ratio), remained unchanged at 0.8x as 17 stocks advanced while 21 stocks declined.

Top Gainers:

1. TRIPPLEG gained 10.00% to close at N0.99
2. REGALINS gained 9.76% to close at N0.45
3. CHIPLC gained 9.26% to close at N0.59
4. PRESTIGE gained 8.89% to close at N0.49
5. ACADEMY gained 8.57% to close at N0.38

Top Losers:

1. OANDO lost 9.70% to close at N4.75
2. UACN lost 8.93% to close at N10.20
3. LINKASSURE lost 7.69% to close at N0.60
4. FTNCOCOA lost 7.55% to close at N0.49
5. UPDC lost 5.56% to close at N1.19

Outlook

We expect the financial reports for the H1 period to dictate the direction of the market in coming trading sessions.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur