Stock Market closes flat as investors neither lost or gained value

Today, the domestic equities market closed flattish as the benchmark index stood at 37,857.24 points while market capitalisation and YTD loss remain unchanged at ₦19.7tn and -6.0% respectively. This implies that at today’s trading shareholders neither gained or lost value of their investment. Trading activities was mixed as volume traded rose by 5.4% to 197.3m units while value traded fell by 33.5% to ₦1.9bn. The most traded stocks by volume were WEMABANK (37.2m units), GTCO (27.9m units), and FIDELITY (12.2m units) while GTCO (₦823.2m), ZENITH (₦158.2m), and SEPLAT (₦156.3m) led by value.

Across sectors under our coverage, performance was mixed as 2 indices gained, while 4 indices closed flat. The Banking and Consumer Goods indices gained 0.4% and 0.3% respectively on the back of buying interest in  ACCESS (+1.1%), WEMABANK (+9.5%), and INTBREW (+6.0%). Conversely, the Oil & Gas, Insurance, Industrial Goods and AFR-ICT indices closed flat. 

Investors sentiment, as measured by market breadth (advance/decline ratio), remained unchanged at 1.2x as 16 stocks gained while 13 stocks lost. NCR (+9.6%), WEMABANK (+9.5%), and FTNCOCOA (+8.3%) led gainers while IKEJAHOTEL (-9.1%), CUSTODIAN (-6.2%) and JAPAULGOLD (-5.7%) led decliners. In the next trading session, we expect the domestic bourse to extend bearish performance due to selling pressure in the market.

Market Statistics for Tuesday, 13th July 2021