We saw bearish sentiment in the domestic bourse today as the benchmark index declined 19bps to 40,494.35 points on the back of sell-offs in STANBIC (-4.4%), NIGERIAN BREWERIES (-3.3%), and ZENITH (-0.6%). Consequently, the YTD return declined to 0.6% while market capitalisation inched lower by ₦41.3bn to settle at ₦21.2tn. Activity level improved as volume and value traded advanced 72.8% and 166.3% respectively to 356.4m units and ₦5.8bn. The most traded stocks by volume were GUARANTY (46.2m units), FBNH (35.3m units) and DANGSUGAR (26.8m units) while GUARANTY (₦1.4bn), SEPLAT (₦1.2bn) and ZENITH (₦652.6m) led by value.
Performance across sectors was mixed as 3 of 6 indices under our coverage closed lower. The Insurance and Consumer Goods indices lost the most, down 1.5% and 0.5% respectively due to declines in WAPIC (-8.3%), CORNERST (-10.0%) and NIGERIAN BREWERIES (-3.3%). Similarly, the Banking index inched lower by 0.3% as a result of losses in STANBIC (-4.4%) and ZENITH (-0.6%). On the flip side, the Oil & Gas and Industrial Goods indices also appreciated 1.1% and 1bp respectively as SEPLAT (+0.8%) and CAP (+5.6%) ticked higher. The AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 1.1x from the 2.3x recorded previously as 22 stocks gained against 20 losers. LEARNAFRICA (+9.3%), ARDOVA (+9.1%) and MULTIVERSE (+8.3%) were the top gainers while CORNERST (-10.0%), UPDCREIT (-10.0%) and CHIPLC (-9.5%) were the top losers. We believe bargain hunting would boost the performance of the market this week as prices remain attractive.
Market Statistics for Tuesday, 16th February 2021
|Market Cap (N’bn)||21,184.4|
|Market Cap (US$’bn)||54.9|
|NSE All-Share Index||40,494.35|
|Daily Performance %||(0.2)|
|WTD Performance %||0.1|
|MTD Performance %||(4.35)|
|QTD Performance %||0.6|
|YTD Performance %||0.6|
|Daily Volume (Million)||356.4|
|Daily Value (N’bn)||5.8|
|Daily Value (US$’m)||14.9|