Today, the local bourse resumed trading for the week on a bullish note, as price appreciation in MTNN (+1.8%), MBENEFIT (+5.4%), and ZENITH (+0.2%) pushed All-Share index higher by 15bps to 38,604.72 points. Consequently, YTD loss improved to -4.1% while market capitalisation rose by ₦30.0bn to ₦20.1tn. Trading activity declined as volume and value traded fell by 36.9% and 50.0% respectively to 244.3m and ₦1.9bn. The most traded stocks by volume were TRANSCORP (40.3m units), CILEASING (26.1m units), and FCMB (17.7m units) while GTCO (₦229.5m), PRESCO (₦227.2m), and ZENITH (₦192.8m) led by value.
Performance across sectors under our coverage was bearish as 4 indices lost while 2 indices gained. The Oil & Gas and Consumer Goods indices led the losers, down 0.6% and 0.4% respectively due to sell-offs in OANDO (-1.8%), ETERNA (-10.0%), DANGSUGAR (-5.4%) and HONYFLOUR (-0.6%). Followed by the Industrial Goods and Insurance indices which fell by 0.3% and 0.2% respectively due to price depreciation in WAPCO (-5.0%), WAPIC (-3.6%), and AIICO (-3.7%). On the flip side, the AFR-ICT and Banking indices gained 1.1% and 2bps on the back of bargain hunting in MTNN (+1.8%) and ZENITH (+0.2%).
Investors sentiment, as measured by market breadth (advance/decline ratio), declined to 0.6x from 0.7x recorded in the last trading session as 17 stocks advanced while 25 stocks declined. JBERGER (+8.9%), NPFMCRFBK (+8.0%), and REGALINS (+7.1%) led gainers while ETERNA (-10.0%), NEIMETH (-9.7%), and TRIPPLEG (-9.1%) led decliners. In the next trading session, we anticipate a bullish performance on the domestic bourse driven by bargain hunting activities.
Market Statistics for Monday, 2nd August 2021
|Market Cap (N’bn)||20,113.6|
|Market Cap (US$’bn)||48.9|
|NSE All-Share Index||38,604.72|
|Daily Performance %||0.1|
|WTD Performance %||0.1|
|MTD Performance %||0.1|
|QT Performance %||1.8|
|YTD Performance %||(4.1)|
|Daily Volume (Million)||244.3|
|Daily Value (N’bn)||1.9|
|Daily Value (US$’m)||4.6|