Today, the local bourse sustained its bullish performance due to buying interest in MTNN (+1.8%), AIRTELAF (+5.7%), and WEMABANK (+6.0%) as the All-Share index rose by 0.8% to 38,917.99 points. Consequently, YTD loss improved to -3.4% while market capitalisation rose by ₦163.2bn to ₦20.3tn. Trading activity was mixed as volume traded fell by 5.3% to 231.5m units while value traded rose by 11.8% to ₦2.1bn. The most traded stocks by volume were TRANSCORP (17.5m units), JAIZBANK (16.6m units), and HONYFLOUR (13.0m units) while MTNN (₦376.8m), GTCO (₦200.5m), and ZENITH (₦175.8m) led by value.
Performance across sectors under our coverage was bearish as 4 indices lost, 1 gained while the Industrial Goods index closed flat. The Insurance and Banking indices led the losers, down 1.0% and 0.8% respectively due to sell-offs in MBENEFIT (-5.1%), WAPIC (-1.9%), ACCESS (-2.2%) and ZENITH (-0.8%). Followed by the Consumer Goods and Oil & Gas indices which fell by 0.3% and 0.2% respectively due to price depreciation in HONYFLOUR (-7.8%), ARDOVA (-1.8%), and OANDO (-0.6%). On the flip side, the AFR-ICT was a lone gainer, up 3.4% on the back of bargain hunting in MTNN (+1.8%) and AIRTELAF (+5.7%).
Investors sentiment, as measured by market breadth (advance/decline ratio), declined to 0.4x from 0.6x recorded in the last trading session as 11 stocks advanced while 26 stocks declined. WEMABANK (+6.0%), AIRTELAF (+5.7%), and COURTVILLE (+4.2%) led gainers while FTNCOCOA (-8.2%), HONYFLOUR (-7.8%), and MBENEFIT (-5.1%) led decliners. In the next trading session, we anticipate a bullish performance on the domestic bourse to be driven by bargain hunting activities.
Market Statistics for Tuesday, 3rd August 2021
|Market Cap (N’bn)||20,276.8|
|Market Cap (US$’bn)||49.3|
|NSE All-Share Index||38,917.99|
|Daily Performance %||0.8|
|WTD Performance %||1.0|
|MTD Performance %||1.0|
|QT Performance %||2.7|
|YTD Performance %||(3.4)|
|Daily Volume (Million)||231.5|
|Daily Value (N’bn)||2.1|
|Daily Value (US$’m)||5.2|