The domestic equities market sustained yesterday’s gains, due to price appreciation in ZENITH (+0.65%), ETI (+4.0%), and UNILEVER (+5.0%) as the All-Share index increased by 10bps to 39,210.10 points. The increase has boosted the value of the stocks in the hands of investors in companies which share prices appreciated. Investors in capital market make gains through price appreciation, bonus share and dividend unlike money market in which depositors are paid interest rate. The year to date YTD, loss improved to -2.6% while market capitalisation rose by ₦20.4 billion to ₦20.4 trillion. Trading activity worsened as volume and value traded declined by 12.8% and 43.5% to 158.4 million units and ₦2.2 billion respectively. The most traded stocks by volume were ZENITH (27.3m units), STERLING (22.0m units), and UBA (21.7m units) while ZENITH (₦629.2m), NESTLE (₦551.2m), and GUARANTY (₦195.9m) led by value.
Across sectors under our coverage, performance was mixed as 2 indices gained, 2 lost and 2 also closed flat. The Banking and Consumer Goods indices gained 0.5% and 0.4% respectively due to buying interest in ZENITH (+0.7%), ETI (+4.0%), UNILEVER (+5.0%), and DANGSUGAR (+1.4%). On the flip side, the Insurance and Industrial Goods indices lost 1.0% and 1bp respectively on the back of sell pressure on WAPIC (-6.8%), CHIPLC (-9.0%), and CAP (-4.8%) . Meanwhile, the AFR-ICT and Oil & Gas indices closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio), weakened to 1.3x from 4.2x recorded in the last trading session as 19 stocks advanced while 15 stocks declined. LINKASSURE (+9.1%), PZ (+7.1%), and UBN (+5.0%) led gainers while CWG (-9.6%), CHIPLC (-9.0%), and ABCTRANS (-7.5%) led decliners. In the last trading session of the week, we suspect that profit taking may dominate the local bourse.
Market Statistics for Thursday, 10th June 2021
|Market Cap (N’bn)||20,437.2|
|Market Cap (US$’bn)||49.7|
|NSE All-Share Index||39,210.1|
|Daily Performance %||0.1|
|WTD Performance %||1.2|
|MTD Performance %||2.0|
|QTD Performance %||0.4|
|YTD Performance %||(2.6)|
|Daily Volume (Million)||158.4|
|Daily Value (N’bn)||2.2|
|Daily Value (US$’m)||5.4|