Today, the domestic equities market reversed yesterday’s losses, due to buying interest in BUACEMENT (+2.1%), ZENITH (+1.3%) and NIGERIAN BREWERIES (+1.1%) as the All-Share Index rose 0.4% to 37,954.35 points. Consequently, YTD loss improved to -5.8% while market capitalisation increased by ₦78.1bn to ₦19.8tn. Trading activity was mixed as volume traded fell by 19.7% to 167.4m units while value traded rose by 14.2% to ₦1.8bn. The most traded stocks by volume were ZENITH (13.9m units), SOVRENINS (12.7m units), and UBA (11.8m units) while ZENITH (₦330.1m), STANBIC (₦235.3m), and PRESCO (₦180.5m) led by value.
Across sectors under our coverage, performance was bullish as 4 indices gained, 1 lost while AFR-ICT index closed flat. The Industrial Goods and Banking indices led gainers, up 0.9% and 0.6% respectively on the back of buying interest in BUACEMENT (+2.1%), FBNH (+1.4%) and ZENITH (+1.3%). Similarly, the Oil & Gas and Consumer Goods indices Inched higher by 0.3% and 0.2% respectively following price appreciation in OANDO (+3.5%) and NIGERIAN BREWERIES (+1.1%). Conversely, the Insurance index fell by 0.3% on the back of sell-offs in AIICO (-7.4%).
Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.4x from 0.5x recorded in the last trading session as 19 stocks advanced while 14 stocks declined. PORTPAINT (+10.0%), MBENEFIT (+10.0%), and LEARNAFRCA (+4.0%) led gainers while JULI (-9.6%), AIICO (-7.4%), and CHAMS (-4.8%) led decliners. In the last trading session, we suspect that profit taking may dominate the local bourse.
Market Statistics for Thursday, 24th June 2021
| Market Cap (N’bn) | 19,781.2 |
| Market Cap (US$’bn) | 48.1 |
| NSE All-Share Index | 37,954.35 |
| Daily Performance % | 0.4 |
| WTD Performance % | (1.8) |
| MTD Performance % | (1.3) |
| QTD Performance % | (2.8) |
| YTD Performance % | (5.8) |
| Daily Volume (Million) | 167.4 |
| Daily Value (N’bn) | 1.8 |
| Daily Value (US$’m) | 4.5 |
Source: Afrinvest
