The local bourse reversed the losses recorded since the beginning of the week, as buying interest in NESTLE (+6.4%), DANGCEM (+6.5%), and PRESCO (+5.5%) drove the All-Share Index to appreciate by 1.9% to 39,592.29 points. Accordingly, YTD loss improved to -1.7% while market capitalisation increased by ₦382.1bn to ₦20.6tn. Trading activity was mixed as volume traded fell 9.9% to 474.4m units while value traded rose 31.6% to ₦4.0bn. The most traded stocks by volume were FBNH (264.7m units), UNIVINSURE (76.7m units), and MANSARD (13.1m units) while FBNH (₦2.1bn), NESTLE (₦412.8m), and DANGCEM (₦307.3m) led by value.
Performance across the sectors under our coverage remained mixed as 3 indices gained, 2 lost, while the AFR-ICT index closed flat. Leading the gainers is the Industrial Goods index, up 3.6% on the back of buying interest in DANGCEM (+6.5%) and WAPCO (+0.7%). Trailing, the Consumer Goods and Banking indices rose 3.1% and 0.8% respectively due to price uptick in NESTLE (+6.4%), UNILEVER (+2.3%), FBNH (+6.6%), and GTCO (+0.7%). On the flip side, the Insurance and Oil & Gas indices recorded losses, down 2.0% and 0.2% respectively as a result of sell pressure on MANSARD (-10.0%), LASACO (-0.8%), and OANDO (-1.0%).
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.7x from 0.9x as 24 stocks advanced while 14 stocks declined. NNFM (+6.9%), FBNH (+6.6%), and DANGCEM (+6.5%) led the gainers while JBERGER (-10.0%), MANSARD (-10.0%), and VANLEER (-9.9%) led the laggards. In the final trading session for the week, we anticipate an extension of this positive momentum as investors snap up bargains ahead of the weekend.
Market Statistics for Wednesday, 29th September 2021
|Market Cap (N’bn)||20,627.9|
|Market Cap (US$’bn)||50.2|
|NSE All-Share Index||39,592.29|
|Daily Performance %||1.9|
|WTD Performance %||1.6|
|MTD Performance %||1.0|
|QTD Performance %||4.4|
|YTD Performance %||(1.7)|
|Daily Volume (Million)||474.4|
|Daily Value (N’bn)||4.0|
|Daily Value (US$’m)||9.7|