NSE daily report: ASI gains 0.23% as MANSARD and JAPAULGOLD share prices tumble

The Nigerian Stock Exchange market enjoyed its first positive close of the week, advancing by 0.23% on Wednesday, after declining by 0.07% and 0.23% on Tuesday and Monday respectively. The market capitalization also appreciated by 0.23%, adding N50.264 billion to its ranks to close the day at N21.524 trillion.

The Insurance Index continued it ascent, with multiple stocks contained within it recording maximum gains. There was however a sharp reversal in the fortunes of AXA Mansard share prices, just as the company commenced the process of executing its share reconstruction.

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The timetable for the share reconstruction is as follows;

January 20, 2021 – Receive CAC approval of share reconstruction
January 21, 2021 – Submit an application to SEC for approval of share reconstruction
February 4, 2021 – Receive SEC approval for share reconstruction
February 9, 2021 – Share reconstruction effected on NSE

Click here for more on the AXA Mansard share reconstruction

All five stocks on our highflyers tracker recorded maximum gains; MBENEFIT and ROYALEX appreciated by 10.00%, CHAMPION gained 9.46%, TRANSCORP gained 9.40%, and REGALINS gained 7.69%.

Activity level

649.649 million units of shares were traded on Wednesday in 6,296 deals, the shares were valued at N21.524 trillion.

The activity level was mixed, with the volume of shares traded increasing by 23.74% while the value of shares traded decreased by 13.59%.

Shares of MBENEFIT were the most traded by volume, with 52.106 million shares worth N28.652 million exchanging hands in 84 deals. TRANSCORP and STERLINBANK were the second and third most traded stocks by volume with 51.653 million and 48.119 million traded shares respectively.

Shares of WAPCO were the most traded by value, with shares worth N900.091 million traded in 518 deals. GUARANTY and DANGCEM were the next two most traded shares by value with their shares traded valued at N803.557 million and N410.569 million respectively.

Performance of Indices

4 of the indices under our watch advanced, while 1 declined.

Insurance Index advanced by 2.52% on the back of multiple gains by Insurance Stocks
Industrial Goods Index advanced by 0.50% following gain recorded by ARDOVA (+9.72%)
Oil & Gas Index advanced by 0.45% due to gains in ARDOVA (9.72%)
Consumer Goods Index advanced by 0.21% owing to buying interests in FLOURMILL (+1.56%) and PZ (+5.56%)
Banking Index declined by 0.23% due to sell-offs in GUARANTY (-2.07%).

Investor Sentiment

Investor Sentiment as measured by market breadth strengthened to 3.7x from the 2.0x recorded previously as 55 stocks advanced against 15 decliners.

Top 5 gainers by percentage are;