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EQUITIES: Profit-taking on GUARANTY, WAPCO drag NSE ASI down by 0.1% to 42,000.01 points

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NSE Trading Floor

WED 03 FEB, 2021-theGBJournal- Bearish sentiments persisted in the domestic equities market, following profit-taking on GUARANTY (-2.1%), WAPCO (-1.6%) and ETI (-4.8%) stocks. Consequently, the NSE ASI declined by 0.1% to 42,000.01 points. Accordingly, the Month-to-Date loss increased to -1.0%, while the Year-to-Date gain moderated to +4.3%.

The total volume of trades declined by 9.2% to 504.84 million units, valued at NGN5.31 billion, and exchanged in 5,887 deals. UBN was the most traded stock by volume at 75.55 million units, while GUARANTY was the most traded stock by value at NGN2.01 billion.

Sectoral performance was negative, as all sectors in our coverage recorded declines. The Insurance (-2.1%) declined the most, followed by the Consumer Goods (-0.2%), Banking (-0.1%), Industrial Goods (-0.1%) and Oil & Gas (-0.1%) indices.

Market sentiment, as measured by market breadth, was negative (0.7x), as 26 tickers declined, relative to 18 gainers. LINKASSURE (-9.9%) and CHAMPION (-9.8%) recorded the largest losses of the day, while NCR (+9.9%) and CHIPLC (+9.5%) topped the gainers’ list.

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