Daily Financial Markets Report for June 11 , 2021Yahya Abdulrahman
Equities market closes on a negative note …ASI loses 14 Basis Point
The Nigerian Stock Exchange (NSE) closed negative as bears dominated proceedings in the market today. The benchmark All Share Index (ASI) depreciated by 0.14% to close at 39,156.28. Similarly, Market Capitalization decreased by 28.03 billion to close at N20.41 trillion while the Year-to-Date (YtD) returns settled at -2.77%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and mid-cap stocks in Banking, Agriculture and Consumer goods sector. Some of today’s market losers include: CHAMPION (-10.00%), NEM (-10.00%), MAYBAKER (-3.81%), LASACO (-2.86%), FIDELITYBK (-2.18%), OANDO (-1.67%), MTNN (-1.39%), NB (-1.19%), AIICO (-0.89%) and GUARANTY (-0.34%) 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 Oil and Gas advanced by 0.05%, 0.03% and 0.94% respectively. While Insurance and Consumer Goods Indices declined by 0.56% and 0.15% respectively.
Market activity measured by aggregate volume increased by 82.54% while value increased by 58.52%. Investors traded a total of 289 million units of shares valued at N3.54 billion in 3,719 deals.
Market breadth measured by Advancers/Decliners was positive as it closed at 1.56x indicating a bullish mood. At the close of trading : AFRIPRUD (3.28%), NAHCO (2.73%), STANBIC (2.37%), HONYFLOUR (2.33%), JAPAULGOLD (1.89%), INTBREW (1.85%), UCAP (1.48%), SEPLAT (1.47%), UNILEVER (0.79%), UBA (0.70%), FBNH (0.70%), ACCESS (0.61%), WAPCO (0.48%) and ZENITH (0.22%) were amongst the 25 market gainers, while CHAMPION (-10.00%), NEM (-10.00%), MAYBAKER (-3.81%), LASACO (-2.86%), FIDELITYBK (-2.18%), OANDO (-1.67%), MTNN (-1.39%), NB (-1.19%), AIICO (-0.89%) and GUARANTY (-0.34%) were among the 16 market laggards. 58 stock prices remained unchanged.
The Banking sector emerged as the most active sector. Equities of Sterling, Zenith and Fidelity were the most active in the subsector as 110 million units of shares worth N1.20 Billion were traded in 2,424 transactions. Sterling, Zenith and Fidelity accounted for 73% of the total volume traded in the subsector.
Other Financial Institutions came second ahead of Insurance. Equities of ROYALEX and STANBIC were the most active in the subsector as 40 million units of shares worth N449 million were traded in 1,036 transactions. Trading in the Equities of ROYALEX and STANBIC accounted for 55% of the total volume traded in the subsector.
The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 0.18% to close at 746.19. Consequently, Market Capitalization also closed at N530.40 billion. Market activity measured by aggregate volume increased by 1,320.23% while value increased by 365.45%. Investors traded a total of 3,706,127 units of shares valued at N74.21million in 29 deals.
Please find here our Daily Financial Market update for today, June 11, 2021