Daily Financial Market Report for June 10 , 2021Yahya Abdulrahman
Equities market closes on a Positive note …ASI gains 10 Basis Point
The Nigerian Stock Exchange (NSE) closed positive as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.10% to close at 39,210.00. Similarly, Market Capitalization increased by 20.41 billion to close at N20.44 trillion while the Year-to-Date (YtD) returns settled at -2.63%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to gains recorded in large and mid-cap stocks in Banking, Agriculture and Consumer goods sector. Some of today’s market gainers include: PZ (7.14%), MAYBAKER (5.00%), UNILEVER (4.96%), ETI (4.00%), VITAFOAM (3.45%), HONYFLOUR (2.38%), DANGSUGAR (1.43%), TRANSCORP (1.12%), FIDELITYBK (0.88%), ZENITH (0.65%), FCMB (0.65%), ACCESS (0.62%), STANBIC (0.43%) and GUARANTY (0.35%) amongst others.
Sectors performance was Broadly Bullish
Performance across sectors was broadly bullish as 3 out of 5 sectors closed in the green zone. Banking, Industrial and Consumer Goods Indices advanced by 0.52%, 0.01% and 0.44% respectively. While Insurance Index declined by 1.04%. Oil and Gas Index remained unchanged.
Market activity measured by aggregate volume decreased by 12.76% while value decreased by 43.52%. Investors traded a total of 158 million units of shares valued at N2.24 billion in 3,330 deals.
Market breadth measured by Advancers/Decliners was positive as it closed at 1.27x indicating a bullish mood. At the close of trading : PZ (7.14%), MAYBAKER (5.00%), UNILEVER (4.96%), ETI (4.00%), VITAFOAM (3.45%), HONYFLOUR (2.38%), DANGSUGAR (1.43%), TRANSCORP (1.12%), FIDELITYBK (0.88%), ZENITH (0.65%), FCMB (0.65%), ACCESS (0.62%), STANBIC (0.43%) and GUARANTY (0.35%) were amongst 19 market gainers, while CWG (-9.60%), WAPIC (-6.78%), MBENEFIT (-6.52%), AFRIPRUD (-3.94%), WEMABANK (-3.39%), UCAP (-1.61%), STERLING (-1.23%), UACN (-0.91%), FBNH (-0.69%) and FLOURMILLS (-0.17%) were among the 15 market laggards. 70 stock prices remained unchanged.
The Banking sector emerged as the most active sector. Equities of Zenith, Sterling and UBA were the most active in the subsector as 91 million units of shares worth N1.095 Billion were traded in 2,417 transactions. Zenith, Sterling and UBA accounted for 78% of the total volume traded in the subsector.
Other Financial Institutions came second ahead of Insurance. Equities of JAIZBANK and FBNH were the most active in the subsector as 8.9 million units of shares worth N86 million were traded in 917 transactions. Trading in the Equities of JAIZBANK and FBNH accounted for 43% of the total volume traded in the subsector.
The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 1.34% to close at 744.85. Consequently, Market Capitalization also closed at N529.45 billion. Market activity measured by aggregate volume decreased by 89.82% while value decreased by 74.42%. Investors traded a total of 260,952 units of shares valued at N15.94 million in 29 deals.
Please find here our Daily Financial Market update for today, June 10, 2021