Today, the domestic equities market resumed trading on a bearish note due to price depreciation in FLOURMILL (-2.3%), WEMABANK (-3.5%), and LINKASSURE (-7.8%) as the All-Share index fell by 0.6% to 38,567.26 points. Consequently, YTD loss worsened to -4.2% while market capitalisation fell by ₦126.9bn to ₦20.1tn. Trading activity was mixed as volume traded rose by 16.3% to 194.9m units while value traded fell by 39.0% to ₦1.0bn. The most traded stocks by volume were WEMABANK (25.8m units), ELLAHLAKES (25.0m units), and FIDELITY (16.1m units) while ELLAHLAKES (₦106.3m), ZENITH (₦104.4m), and MTNN (₦94.7m) led by value.
Performance across sectors under our coverage was mixed as 3 indices gained while 3 lost. The Oil & Gas index led the gainers, up 1.0% driven by buying interest in OANDO (+3.1%) and CONOIL (+9.8%). Similarly, the Consumer Goods and AFR-ICT indices rose slightly by 3bps apiece, due to price appreciation in DANGSUGAR (+1.7%), VITAFOAM (+2.7%), and MTNN (+0.1%). Conversely, the Industrial Goods index was the biggest loser, down 1.8% on the back of sell-off in DANGCEM (-3.3%). Similarly, the Insurance and Banking indices declined by 0.6% and 5bps respectively, as a result of profit taking in LINKASSURE (-7.8%), MBENEFIT (-2.7%), WEMABANK (-3.5%), and STERLNBANK (-0.7%).
Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.9x from 1.2x recorded in the last trading session as 17 stocks gained while 18 stocks lost. CONOIL (+9.8%), NNFM (+9.8%), and ACADEMY (+7.9%) led gainers while UPL (-9.8%), LINKASSURE (-7.8%), and NPFMCRFBK (-4.3%) led losers. In the next trading session, we expect that the bearish sentiment would be sustained, given the absence of any positive driver.
Market Statistics for Monday, 9th August 2021
Market Cap (N’bn) | 20,094.1 |
Market Cap (US$’bn) | 48.9 |
NSE All-Share Index | 38,567.26 |
Daily Performance % | (0.6) |
WTD Performance % | (0.6) |
MTD Performance % | 0.1 |
QT Performance % | 1.7 |
YTD Performance % | (4.2) |
Daily Volume (Million) | 194.9 |
Daily Value (N’bn) | 1.0 |
Daily Value (US$’m) | 2.5 |