At the close of the first trading session of the week, the domestic equities market was in the red following sell-offs in AIRTELAF (-10.0%), STANBIC (-2.4%), and GUARANTY (-1.4%). As a result, the All-Share Index fell 166bps to 38,507.33 points, YTD loss worsened to -4.4% while market capitalisation declined ₦339.8bn to ₦20.1tn. Trading activity strengthened as volume and value traded rose 2.9% and 3.0% respectively to 297.3m units and ₦3.6bn. The most traded stocks by volume were ACCESS (43.1m units), STERLING (33.2m units), and ZENITH (25.9m units) while UHOMREIT (₦695.9m), ZENITH (₦602.2m), and MTNN (₦381.5m) led by value.
Across sectors under our coverage, performance was mixed as 3 indices gained, 2 lost while the Industrial Goods index closed flat. The AFR-ICT index led laggards, down 4.8% due to sell-offs in AIRTELAF (-10.0%). Similarly, the Consumer Goods index fell 0.2% following price depreciation in INTBREW (-1.8%), FLOURMILL (-1.0%), and DANGSUGAR (-0.3%). Conversely, the Insurance and Banking indices rose 0.4% and 0.2% respectively due to buying interest in MANSARD (+2.3%), NEM (+3.9%), ACCESS (+3.1%), and ZENITH (+0.9%). Also, the Oil & Gas index inched higher by 0.1% on the back of bargain hunting in OANDO (+1.7%).
Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.7x from 1.6x recorded in the last trading session as 19 stocks advanced while 26 stocks declined. CWG (+9.7%), BERGER (+6.7%), and REDSTAREX (+4.2%) led gainers while AIRTELAFR (-10.0%), OKOMUOIL (-9.4%), and CORNERSTONE (-9.1%) led decliners. In the next trading session, we expect the market to sustain its bearish performance as investors take profit.
Market Statistics for Tuesday, 15th June 2021
|Market Cap (N’bn)||20,069.4|
|Market Cap (US$’bn)||48.8|
|NSE All-Share Index||38,507.33|
|Daily Performance %||(1.7)|
|WTD Performance %||(1.7)|
|MTD Performance %||0.2|
|QTD Performance %||(1.4)|
|YTD Performance %||(4.4)|
|Daily Volume (Million)||297.3|
|Daily Value (N’bn)||3.6|
|Daily Value (US$’m)||8.9|