The domestic stock market began the week in the red as the All-Share Index declined 40bps to settle at 38,712.55 points due to sell-offs in STANBIC (-9.9%), NIGERIAN BREWERIES (-1.8%) and GUINNESS (-9.9%). Consequently, YTD loss worsened to -3.9% and market capitalisation declined by ₦75.0bn to settle at ₦20.3tn. Trading activity improved as volume and value traded rose 20.8% and 6.5% respectively to 194.0m units and ₦1.4bn. The most traded stocks by volume were FIDELITY (30.9m units), CHAMS (29.5m units), and ACCESS (23.4m units) while ACCESS (₦189.0m), GUARANTY (₦120.5m), and TOTAL (₦102.8m) led by value.
Across sectors that we cover, performance was mixed. The Banking index was the lone gainer, up 0.2% due to price appreciation in STERLING (+7.7%), FBNH (+0.7%) and ACCESS (+0.6%). Conversely, the Consumer Goods and Insurance indices declined 1.0% and 0.8% respectively on the back of sell-offs in NIGERIAN BREWERIES (-1.8%) and MANSARD (-5.1%). The Oil & Gas index declined by 12bps due to profit-taking in OANDO (-1.6%). The AFR-ICT and Industrial Goods indices closed flat.
Investor sentiment, as measured by market breadth (advance/decline ratio), declined to 0.8x from 1.0x recorded in the previous session as 15 stocks advanced against 20 decliners. JAPAULGO (+9.5%), UAC-PROP (+9.3%) and ROYALEX (+8.3%) were the top gainers while STANBIC (-9.9%), GUINNESS (-9.9%), and CUSTODIAN (-8.4%) were the top decliners. We are not optimistic of significant gains in the market this week as investor sentiment remains sub-par.
Market Statistics for Monday, 12th April 2021
|Market Cap (N’bn)||20,260.1|
|Market Cap (US$’bn)||52.1|
|NSE All-Share Index||38,712.55|
|Daily Performance %||(0.4)|
|WTD Performance %||(0.4)|
|MTD Performance %||(0.9)|
|QTD Performance %||(0.9)|
|YTD Performance %||(3.9)|
|Daily Volume (Million)||194.0|
|Daily Value (N’bn)||1.4|
|Daily Value (US$’m)||3.5|