Home Business Gains in Bellwethers boost stock market performance - ASI up 0.3%

Gains in Bellwethers boost stock market performance – ASI up 0.3%

- Advertisement -

Gains in bellwethers – ZENITH (+3.7%), GUARANTY (+1.3%) and NIGERIAN BREWERIES (+3.2%) – lifted the All-Share index 31bps higher to settle at 24,841.94 points. Thus, investors gained ₦39.6bn as market capitalisation increased to ₦13.0tn while YTD loss eased to -7.5%. Activity level was mixed as volume traded declined 17.2% to 154.4m units while value traded advanced 11.3% to ₦1.5bn. The top traded stocks by volume were TRANSCORP (13.5m units), FBNH (11.7m units) and WAPCO (9.0m units) while NIGERIAN BREWERIES (₦283.8m), GUARANTY (₦175.1m) and MTNN (₦140.4m) led by value.

Performance across sectors was bullish as 5 of 6 indices under our coverage advanced save the Industrial Goods index which declined 3bps owing to a price decline in CAP (-9.9%). The Insurance and Banking indices advanced 2.7% and 1.6% respectively due to buying interest in MANSARD (+9.7%), AIICO (+4.7%), ZENITH (+3.7%) and GUARANTY (+1.3%). Similarly, the AFR-ICT and Oil & Gas indices rose 0.5% and 0.2% respectively owing to price appreciation in MTNN (+0.1%), SEPLAT (+3.5%) and OANDO (+2.2%). Finally, gains in NIGERIAN BREWERIES (+3.2%) and FLOURMILL (+4.0%)  drove the Consumer Goods index 0.1% higher to close trade for the day.

- Advertisement -

Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 2.3x from the 1.2x recorded previously as 23 stocks advanced against the 10 decliners. The top gainers were MANSARD (+9.7%), UACN (+8.7%) and JAIZBANK (+7.3%) while CAP (-9.9%), TOTAL (-9.9%) and ARDOVA (-9.7%) lost the most. We expect market performance for the week to be majorly dictated by the trend in earnings releases.

Market Statistics for Tuesday, 4th August 2020 

Market Cap (N’bn) 12,959.02
Market Cap (US$’bn) 34.0
NSE All-Share Index 24,841.94
Daily Performance % 0.3
WTD Performance % 0.6
MTD Performance % 0.6
QTD Performance % 1.5
YTD Performance % (7.5)
Daily Volume (Million) 154.4
Daily Value (N’bn) 1.5
Daily Value (US$’m) 3.8
alltechng
alltechng
Technology is making life more meaningful, improves productivity... We are tech lovers...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

video

29 Cool Products Aliexpress & Amazon 2020

29 Cool Products Aliexpress & Amazon 2020... Top 29! Review The Best Products From AliExpress. Amazon 2020. New Future Tech. Gearbest. Deals Banggood. Amazing Gadgets....
video

4 Weird but Wonderful Smartphone Tricks!

4 Weird but Wonderful Smartphone Tricks! Some of the Best Tricks and Life Hacks for your Android Smartphone in 2017. These Life Hacks and tips, will...
video

BEST iOS 14 features for iPhone!

BEST iOS 14 features for iPhone! we curate the list of iPhone features down to what I believe are the 10 best. New features include the...
video

Top 11 Features in OxygenOS 11 | Stock-Android No More?

Top 11 Features in OxygenOS 11 | Stock-Android No More? we will be taking a look at the top 11 cool new features introduced in...
video

Top Watch OS 7 Features You MUST know!!!

Top Watch OS 7 Features You MUST know!!!
error: Alltechng Content is protected !!