Nigeria Market Trends: NSE In Red, Third Day Running

September 2, 2021

The Nigeria Stock Exchange (NSE) market indices closed the first trading day of September on a decline mode, thereby sustaining a declining trend in the last 3 days of trading. The key market indicator, the All-Share Index (ASI) declined by 9 basis points while the Market Capitalization also went in the south direction by N18.46 Billion, a 56% improvement on the previous day's negative position. The observed downward trend was due to sell-offs and dampened buy-interest by Investors.

The NGX ASI closed at 39,184.18 points, to reflect a loss of 0.09% from the previous trading day.

At the close of the market on Wednesday 1st of September 2021, the stock exchange market value currently stands at N20.42 trillion from N20.43 trillion in the previous trading day. Its Year-to-Date (YTD) return, however, is currently settled at –2.70%.

The market breadth closed negative as AIICO led 9 Gainers, and 17 Losers topped by FTNCOCOA at the end of today’s session.

 
 The stock market has declined –1,086.54 basepoints since the start of the year.

NGX ASI Top 5 gainers

AIICO up +4.04% to close at N1.03
CUSTODIAN up +3.15% to close at N6.55
FIDSON up +2.80% to close at N6.25
FIDELITY up +2.55% to close at N2.41
LIVESTOCK up +0.95% to close at N2.13

NGX ASI Top 5 losers

FTNCOOA down –8.77% to close at N0.52
MORISON down –5.42% to close at N1.92
UPDC down –4.84% to close at N1.77
JAIZBANK down –4.76% to close at N0.60
WEMABANK down –4.65% to close at N0.82

NGX ASI 5 Top Traded by Volume

TRANSCORP – 28,537,095.00 units
ZENITHBANK – 16,591,605.00 units
HONYFLOUR – 13,233,567.00 units
UPDC – 12,797,872.00 units
MBENEFIT – 8,322,356.00 units

NGX ASI 5 Top Traded by Value

ZENITHBANK – N398,197,409.10
SEPLAT – N128,781,298.80
GTCO – N111,267,590.40
MTNN – N104,008,078.70
NB – N103,378,487.35

ANALYST VIEW

The number of gainers bounced back marginally against the previous day, however, losers on the Market exceeded gainers by 16.4% thereby indicating gross negative or bearish Market sentiments. Except for significant market development or disruptive economic news, the decliners may still have the day at the end of the Market today.