At the close of trade, the local bourse extended gains from the previous session as buying interest in bellwethers – SEPLAT (+7.1%), ZENITH (+2.9%), and ACCESS (+5.1%) – drove the All-Share Index higher by 52bps to 38,418.04 points. Consequently, the YTD loss improved to -4.6% while market capitalisation rose ₦103.2bn to ₦20.0tn. Trading activity improved as volume and value traded rose 2.2% and 29.4% respectively to 288.9m units and ₦2.4bn. The most traded stocks by volume were FIDELITY (42.1m units), FBNH (32.4m units), and UBA (22.7m units) while SEPLAT (₦418.5m), ZENITH (₦281.0m), and FBNH (₦242.6m) led by value.
Across sectors under our coverage, performance was bullish as 4 of 6 indices closed in the green. The Oil & Gas and Banking indices rose 4.9% and 3.3% respectively following buying interest in SEPLAT (+7.1%), TOTAL (+9.2%), ZENITH (+2.9%), and ACCESS (+5.1%). Similarly, the Industrial and Consumer Goods indices inched higher by 0.1% apiece due to price appreciation in WAPCO (+1.4%), FLOURMILL (+1.2%), and VITAFOAM (+1.3%). Conversely, the Insurance index was the lone laggard, down 0.3% on account of sell-offs in LINKASSURE (-9.4%) and WAPIC (-5.1%). Finally, the AFR-ICT index closed flat.
Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 2.8x (from 1.7x) as 28 stocks gained while 10 stocks lost. MAYBAKER (+9.7%), UAC-PROP (+9.6%), and TOTAL (+9.2%) led gainers while ETERNA (-9.7%), LINKASSURE (-9.4%) and UNITYBNK (-8.1%) led decliners. We expect the market to sustain its positive performance as investors position ahead of the H1:2021 earnings result.
Market Statistics for Tuesday, 6th July 2021
| Market Cap (N’bn) | 20,026.6 |
| Market Cap (US$’bn) | 48.7 |
| NSE All-Share Index | 38,418.04 |
| Daily Performance % | 0.5 |
| WTD Performance % | 0.5 |
| MTD Performance % | 1.3 |
| QTD Performance % | 1.3 |
| YTD Performance % | (4.6) |
| Daily Volume (Million) | 288.9 |
| Daily Value (N’bn) | 2.4 |
| Daily Value (US$’m) | 5.9 |
Source: Afrinvest
