Local Bourse records losses… ASI down 0.2% 

Today,  sell pressure on AIRTELAF (-1.5%), ZENITH (-0.6%), and FBNH (-0.7%) contributed largely to the negative performance at the equities market as the All-Share Index fell by 19bps to 37,585.25  points. Consequently, YTD loss worsened to -6.7% while market capitalisation decreased by ₦34.3bn to ₦19.6tn. Trading activity was mixed as volume traded fell by 19.4% to 163.5m units while value traded rose by 42.6% to ₦3.4bn. The most traded stocks by volume were FBNH (18.1m units), UBA (13.0m units), and GTCO (11.8m units) while MTNN (₦1.5bn), NESTLE (₦600.3m), and GTCO (₦355.4m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices gained while 3 indices lost. The AFR-ICT index led the laggards, down 0.7% on the back of sell-offs in AIRTELAF (-1.5%). In the same vein, the Oil & Gas and Banking indices shed 0.3% and 2bps respectively due to price depreciation in OANDO (-3.0%), CONOIL (-4.3%), ZENITH (-0.6%), and FBNH (-0.7%). On the flip side, the Insurance index led the gainers, up 0.2% following price appreciation in LINKASSURE (+7.7%) and MANSARD (+1.1%). Similarly, the Industrial and Consumer Goods indices rose by 10bps and 1bp respectively, largely attributed to buying interests in WAPCO (+1.2%), VITAFOAM (+2.8%), and FLOURMILL (+0.2%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), waned to 0.7x from 1.4x recorded in the last trading session as 13 stocks advanced while 18 stocks declined. IKEJAHOTEL (+10.0%), FIDSON (+7.9%), and LINKASSURE (+7.7%) led gainers while BOCGAS (-10.0%), ROYALEX (-7.9%), and UNITY (-5.2%) led decliners. In the next trading session, we suspect that investors may continue to trade cautiously.

Market Statistics for Monday, 28th June 2021