The equities market resumed the week on a positive note as the benchmark index rose 47bps to close at 38,437.88 points, following buying interest in BUACEMENT (+2.8%), GUARANTY (+1.4%), and MTNN (+1.0%). Consequently, YTD loss improved to -4.6% while market capitalisation increased by ₦94.3bn to settle at ₦20.0tn. Trading activity worsened as volume and value traded fell by 13.8% and 43.2% to 197.2m units and ₦2.1bn respectively. The most traded stocks by volume were VERITASKAP (29.8m units), FIDELITY (24.5m units), and ZENITH (20.9m units) while ZENITH (₦481.2m), SEPLAT (₦298.5m), and NESTLE (₦200.8m) led by value.
Across sectors under our coverage, performance was bullish as 4 indices gained and 2 lost. The Industrial Goods and AFR-ICT indices gained 1.1% and 0.5% respectively, following price appreciation in BUACEMENT (+2.8%) and MTNN (+1.0%). Similarly, the Banking and Oil & Gas indices rose 0.3% and 1bps respectively, due to buying interest in GUARANTY (+1.4%), JAIZBANK (+1.7%), and MRS (+9.6%). Conversely, the Consumer Goods and Insurance indices lost 0.2% and 0.5% respectively on the back of sell-offs in CHIPLC (-9.6%), DANGSUGAR (-0.3%) and MBENEFIT (-8.3%).
Investor sentiment as measured by market breadth (advance/decline ratio), weakened to 0.7x from 0.8x in the last trading session as 17 stocks advanced while 23 declined. MRS (+9.6%), VITAFOAM (+8.9%) and CHAMS (+5.0%) led gainers while ROYALEX (-9.9), CHIPLC (-9.6%) and NEIMETH (-8.5%) led decliners. In the next trading session, we expect the market to sustain its positive momentum as investors cherry-pick attractive fundamental stocks.
Market Statistics for Monday, 31st May 2021
| Market Cap (N’bn) | 20,034.7 |
| Market Cap (US$’bn) | 48.7 |
| NSE All-Share Index | 38,437.88 |
| Daily Performance % | 0.5 |
| WTD Performance % | 0.5 |
| MTD Performance % | (3.5) |
| QTD Performance % | (1.6) |
| YTD Performance % | (4.6) |
| Daily Volume (Million) | 197.2 |
| Daily Value (N’bn) | 2.1 |
| Daily Value (US$’m) | 5.1 |
