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    UAE imposes new visa conditions on Nigerians, bans transit visa

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

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    Billionaire businessman Aminu Alhassan Dantata dies at 94

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    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Champion Breweries Plc to issue additional shares

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    Over 5 billion additional ordinary shares of Jaiz Bank Plc listed on NGX

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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NGX Market Report: Index down by 1.33% on the back of price adjusted DANGCEM

Wednesday, 28 April 2021, 10:26 pm
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NGX Market Report: Index down by 1.33% on the back of price adjusted DANGCEM
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The Nigerian Exchange benchmark All-Share Index (ASI) suffered a back to back day of loses on Wednesday as the index dropped by 1.33% to close the day at 38,781.48 points.

The market performance on Wednesday is attributable to price adjustment in the share price of Dangote Cement Plc (NSE: DANGCEM) for 2020 dividend as recommended by the Board of Directors.

The equity price of DANGCEM was adjusted to N204.00 from last closing price of N220.00 to account for N16.00 dividend. The equity price of Caverton Offshore Support Group was also adjusted to N1.80 from N1.90 to account for N0.10 dividend.

  • Read also; Q1 2021: Cadbury Nigeria Plc profit falls 62% despite increase in revenue
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With the loses recorded in the trading session in review, the YTD performance worsened to -3.7%, while market capitalization fell N274.2bn to N20.3tn.

Activity Level

The activity level improved, as both volume and value of traded shares increased. While the volume of traded shares rose by 2.8% to record 259.51 million units, while the value of shares traded rose by 7.7% to record N1.91bn.

FBNH, TRANSCORP and ZENITHBANK were the most traded stocks by volume, with 69.47 million, 36.72 million and 16.58 million units of shares respectively exchanging hands in multiple deals.

FBNH, ZENITHBANK and NESTLE were the most traded stocks by value with their shares worth N514.3mn, N366.4mn and N170.0mn being traded.

Index Performance

All indices under our watch except the Oil and Gas Index closed in negative territory.

The Oil & Gas Index advanced by 1.98% as buying interest in SEPLAT saw its share price rise by 3.6%.

Despite many penny Insurance Stocks advancing on the day, the Insurance Index dropped by 1.61% as profit taking dragged down AIICO (-4.7%) and CUSTODIAN (-3.3%).

Also, Banking and Consumer Goods Indices declined 0.2% and 0.1% respectively on the back of sell-offs in GUARANTY (-0.5%), ACCESS (-1.3%), INTBREW (-8.8%) and GUINNESS (-5.8%).

Industrial Goods Index also declined by 3.55% due to DANGCEM (-7.3%).

Investor Sentiment

Investor sentiment as measured by market breadth (gainers/losers ratio) weakened to 0.9x from the 1.4x recorded in the previous session as 19 stocks advanced against 22 decliners.

Top gainers on the day were; CHIPLC (+10.00%), PORTPAINT (+8.33%), ROYALEX (+7.14%), ABCTRANS (+6.90%) and JAPAULGOLD (5.17%).

Top losers were; FTNCOCOA (-10.00%), NEIMETH (-8.95%), INTBREW (-8.77%), PZ (-7.41%) and CORNERST (-7.02%).

Analyst’s Outlook

We expect the  mixed performances to persist through the remaining trading sessions.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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