Gains in GUARANTY (+6.4%), ZENITH (+7.3%) and WAPCO (+2.7%) buoyed performance in the market today. Consequently, the benchmark index rose 54bps to 38,914.84 points, YTD loss improved to -3.4% and market capitalisation increased ₦109.2bn to ₦20.4tn. Trading activity advanced as volume and value surged 727.8% and 118.7% respectively to 1.5bn units and ₦5.9bn. The most traded stocks by volume were UNITYBNK (1.0bn units), MULTIVERSE (200.2m units) and GUARANTY (122.2m units) while GUARANTY (₦3.6bn), ZENITH (₦711.9m) and UNITYBNK (₦700.7m) led by value.
Across our sector coverage, performance was mixed as 3 indicators lost, 2 gained and the AFR-ICT index remained flat. The Insurance index led the losers, down 0.8% following price declines in WAPIC (-9.1%) and LINKASSURE (-9.1%). Also, the Consumer Goods and Oil & Gas indices dipped 0.2% and 0.1% respectively on the back of losses in OANDO (-3.0%), DANGSUGAR (-2.9%) and HONYFLOU (-5.6%). Conversely, strong demand for GUARANTY (+6.4%), ZENITH (+7.3%) and WAPCO (+2.7%) pushed the Banking and Industrial Goods indices higher by 4.4% and 0.2% respectively.
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.8x from the 1.1x recorded previously as 22 stocks gained against 13 decliners. ETERNA (+10.0%), LASACO (+8.3%) and ZENITH (+7.3%) were the top gainers while WAPIC (-9.1%), LINKASSURE (-9.1%) and ABCTRANS (-6.7%) were the top decliners. We expect a gain reversal in the last trading session of the week due to profit taking.
Market Statistics for Thursday, 18th March 2021
|Market Cap (N’bn)||20,360.4|
|Market Cap (US$’bn)||52.7|
|NSE All-Share Index||38,914.84|
|Daily Performance %||0.5|
|WTD Performance %||0.7|
|MTD Performance %||(2.2)|
|QTD Performance %||(3.4)|
|YTD Performance %||(3.4)|
|Daily Volume (Million)||1.468.4|
|Daily Value (N’bn)||5.9|
|Daily Value (US$’m)||15.2|