Local bourse extended the previous sessions’ negative performance as the All-Share Index fell by 148bps to close at 38,446.09 points due to sell-offs in AIRTELAF (-10.0%), DANGCEM (-0.5%), and ZENITH (-2.1%). Consequently, YTD loss worsened to -4.5% as market capitalisation declined by ₦301.0bn to ₦20.0tn. Trading activity was mixed as volume traded declined by 24.9% to 153.6m units while value traded increased by 32.9% to ₦2.4bn. The most traded stocks by volume were UACN (10.0m units), ZENITH (9.6m units), and FIDELITY (8.7m units) while SEPLAT (₦1.1bn), ZENITH (₦222.8m), and WAPCO (₦111.8m) led by value.
Performance was bearish across sectors under our coverage, as 4 indicators lost while 2 gained. The AFR-ICT index led the laggards, down 5.2% due to sell pressure on AIRTELAF (-10.0%). In the same vein, the Banking and Insurance indices fell by 0.6% apiece on the back of price depreciation in ZENITH (-2.1%), GUARANTY (-0.5%), CUSTODIAN (-2.5%), and AIICO (-3.1%). Similarly, the Consumer Goods index also lost, down 32bps following sell-offs in DANGSUGAR (-3.9%), and INTBREW (-0.9%). Alternatively, the Oil & Gas and Industrial Goods indices rose by 7.1% and 0.9% respectively as a result of buying interest in SEPLAT (+10.0%), MRS (+10.0%), and DANGCEM (+0.5%).
Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 0.9x from the 0.7x recorded in the previous trading session as 23 stocks advanced while 25 declined. SEPLAT (+10.0%), MRS (+10.0%), and STERLNBANK (+9.7%) led gainers while AIRTELAF (-10.0%), CILEASING (-10.0%), and BOCGAS (-10.0%) led decliners. In the coming trading session, we expect the local bourse to extend the bearish performance.
Market Statistics for Wednesday, 19th May 2021
|Market Cap (N’bn)||20,038.5|
|Market Cap (US$’bn)||51.9|
|NSE All-Share Index||38,446.09|
|Daily Performance %||(1.5)|
|WTD Performance %||(2.6)|
|MTD Performance %||(3.5)|
|QTD Performance %||(1.5)|
|YTD Performance %||(4.5)|
|Daily Volume (Million)||153.6|
|Daily Value (N’bn)||2.4|
|Daily Value (US$’m)||6.3|