The Nigerian Stock market resumed this month’s trading on a bearish note as the benchmark index declined 13bps to 42,357.90 points as a result of sell-offs in NESTLE (-3.7%), ACCESS (-1.6%), and FLOURMILL (-3.2%). Consequently, the YTD return declined to 5.2% while market capitalisation fell by ₦28.6bn to settle at ₦22.2tn. Activity level waned as volume and value traded declined 12.4% and 8.6% respectively to 586.8m units and ₦6.0bn. The most traded stocks by volume were UBN (79.6m units), TRANSCORP (61.8m units) and UBA (44.3m units) while ZENITH (₦859.0m), NESTLE (₦791.6m) and GUARANTY (₦779.0m) led by value.
Performance across sectors under our coverage was mixed as 2 indicators advanced, 2 lost and the AFR-ICT & Industrial Goods indices closed flat. The Insurance and Oil & Gas indices gained 0.4% and 0.2% respectively due to price appreciation in NEM (+6.6%), WAPIC (+9.3%) and SEPLAT (+1.0%). Conversely, the Consumer Goods and Banking indices lost 1.0% and 0.1% respectively following sell-offs in NESTLE (-3.7%), FLOURMILL (-3.2%) and ACCESS (-1.6%).
Investor sentiment as measured by market breadth (advance/decline ratio) remained at 1.2x as recorded previously as 34 stocks gained against 28 losers. HONYFLOUR (+10.0%), CHAMPION (+10.0%) and MCNICHOLS (+9.8%) were the top gainers while ROYALEX (-10.0%), GUINEAINS (-9.1%) and AFRINSURE (-8.0%) were the top losers. We expect the trend in corporate releases to shape performance this week.
Market Statistics for Monday, 1st February 2021
| Market Cap (N’bn) | 22,157.9 |
| Market Cap (US$’bn) | 57.4 |
| NSE All-Share Index | 42,357.90 |
| Daily Performance % | (0.1) |
| WTD Performance % | (0.1) |
| MTD Performance % | (0.1) |
| QTD Performance % | 5.2 |
| YTD Performance % | 5.2 |
| Daily Volume (Million) | 586.8 |
| Daily Value (N’bn) | 6.0 |
| Daily Value (US$’m) | 15.6 |
