Nigeria stock market daily report: The Bull momentum continue, Index up 35% YTD

The Bullish trend continued for the fourth consecutive day in the week, as the market index advanced by 2.1% on Thursday. The gains in high cap. bellwether stocks; AIRTELAF, DANGCEM, and ZENITHBANK contributed immensely to the high rate of gain.

The market capitalization also rose by 1.96%, adding N363.23 billion to the Investors’ wealth.

The Exchange bench mark index has risen from 20,925.19 points seen at the onset of the Coronavirus pandemic to 36,239.62 points. This represents a 73.18% increase from the Covid-19 induced lows.

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Year-to-Date, the NSE All-Share Index has grown by 35.01%, while the market capitalization has added N5.987 trillion, 46.22% up from the figures at 31st December, 2020.

Activity level

The activity level was mixed again today. The volume of stocks traded decreased by 47.1% to 343.636 million, while the value of traded stocks increased by 90.2% to N4.349.

FBNH was the most traded stock by volume with 99.387 million, followed by SKYAVN and UBA, with 24.000 million units and 22.311 million units respectively.

DANGCEM was the most traded stock by value with 6.765 million shares worth N1.347 billion exchanging hands in 165 deals. FBNH and ZENITHBANK followed with shares worth N700.449 million and N388.713 million respectively.

Performance of indices

All the indices under our watch closed in the green zone;

1. Insurance Index rose BY 2.4% due to MANSARD (+9.1%)
2. Industrial Goods index rose by 1.3% on the back of gains in DANGCEM (+2.6%)
3. Banking Index rose by 1.1% as a result of gains in ZENITHBANK (+2.75%) and UBN (+3.8%)
4. Oil & Gas Index rose by 0.6% driven by ARDOVA (+10.0%)
5. Consume Goods Index rose by 0.23% owing to advancement in UNILEVER (+9.5%) and DANGSUGAR (+0.3%)

Investor Sentiment

Investor sentiment as measured by market breadth (advance/decline ratio) decreased to 1.7x from the 1.9x recorded in the previous session as 29 stocks gained against the 17 that declined.

Top five gainers by percentage are;

1. AIRTELAFRI gained 10.00% to close at N774.40
2. ARODVA gained 9.96% to close at N13.25
3. FTNCOCOA gained 9.62% to close at N0.57
4. UNILEVER gained 9.54% to close at N14.35
5. MANSARD gained 9.09% to close at N0.84

Top five losers by percentage are;

1. WAPIC lost 9.09% to close at N0.40
2. OMATEK lost 9.09% to close at N0.20
3. CHAMPION lost 8.99% to close at N0.81
4. UPL lost 7.25% to close at N1.28
5. UNIONDAC lost 6.90% to close at N0.27

Outlook

We expect the last trading session to close in positive as well, and Investors try to take positions on attractive stocks.

By; Nnamdi M.