The local bourse commenced the week on a positive note, fuelled by gains in MTNN (+7.1%), DANGCEM (+1.2%), and ZENITH (+1.8%). Thus, the NGX All-Share Index rose 1.3% to 42,411.12 points. Accordingly, YTD return improved to 5.3% while market capitalisation gained ₦275.6bn to ₦22.1tn. Trading activity weakened as volume and value traded fell 48.4% and 3.9% respectively to 229.6m units and ₦3.3bn. UNITYBNK (48.3m units), UNIVINSURE (21.1m units), and FBNH (19.9m units) led by volume while NESTLE (₦846.8m), DANGCEM (₦746.0m), and GTCO (₦336.8m) led by value.
Across our sector coverage, performance was bearish as 4 indices lost while 2 advanced. The AFR-ICT and Industrial Goods indices gained 3.5% and 0.7% respectively on the back of price appreciation in MTNN (+7.1%), DANGCEM (+1.2%), and WAPCO (+0.6%). Leading the laggards, the Oil & Gas index shed 0.9% due to sell pressure on OANDO (-4.3%). Similarly, the Banking, Insurance and Consumer Goods indices dipped 0.5%, 0.2% and 0.1% respectively following the decline in GTCO (-1.9%), WAPIC (-5.9%), and CHAMPION (-4.1%).
Investor sentiment, as measured by market breadth (advance/decline ratio), softened to 1.4x from 1.8x as 23 stocks advanced while 16 stocks declined. MEYER (+9.1%), ACADEMY (+8.5%), and FTNCOCOA (+8.1%) led gainers while NASCON (-6.8%), CORNERST (-6.0%), and WAPIC (-5.9%) led decliners. In the subsequent trading session, we expect the positive sentiment to linger.
Market Statistics for Monday, 13th December 2021
| Market Cap (N’bn) | 22,130.1 |
| Market Cap (US$’bn) | 53.8 |
| NGX All-Share Index | 42,411.12 |
| Daily Performance % | 1.3 |
| WTD Performance % | 1.3 |
| MTD Performance % | (1.9) |
| QTD Performance % | 5.4 |
| YTD Performance % | 5.3 |
| Daily Volume (Million) | 229.6 |
| Daily Value (N’bn) | 3.3 |
| Daily Value (US$’m) | 8.0 |
