Sell-offs in WAPCO (-3.0%), ZENITH (-0.9%) and GUARANTY (-0.2%) dragged equities market southwards today, as the benchmark index fell 17bps to 38,571.89 points. Consequently, YTD loss increased to -4.2% while market capitalisation declined by ₦33.6bn to settle at ₦20.2tn. Trading activity varied as volume rose 14.9% to 391.4m units while value traded declined 21.9% to ₦1.8bn. The most traded stocks by volume were FIDELITY (46.1m units), ACCESS (36.9m units), and MBENEFIT (27.7m units) while GUARANTY (₦352.4m), ACCESS (₦297.7m), and FBNH (₦197.7m) led by value.
Across sectors that we cover, performance was mixed as 2 sectors advanced, 3 declined, and 1 closed flat. The Oil & Gas and Consumer Goods indices gained 0.1% apiece due to price appreciation in ARDOVA (+1.1%), GUINNESS (+10.0%) and DANGSUGAR (+1.8%). Conversely, the Insurance index led losers with a 2.8% decline on the back of profit-taking in MANSARD (-7.4%) and WAPIC (-4.4%). The Banking and Industrial goods indices also declined by 97bps and 18bps respectively due to price declines in ZENITH (-0.9%), GUARANTY (-0.2%) and WAPCO (-3.1%). However, the AFR-ICT index closed flat.
Investor sentiment, as measured by market breadth (advance/decline ratio), closed flat at 0.6x (same as the previous session) as 16 stocks advanced against 27 decliners. GUINNESS (+10.0%), MORISON (+9.3%) and FTNCOCOA (+9.3%) were the top gainers while UAC-PROP (-10.0%), PZ (-9.8%), and STUDPRESS (-3.5%) were the top decliners. We expect the newly released inflation number of 18.2% to weigh on market sentiment tomorrow, as investors seek positive real returns.
Market Statistics for Thursday, 15th April 2021
| Market Cap (N’bn) | 20,186.5 |
| Market Cap (US$’bn) | 52.3 |
| NSE All-Share Index | 38,571.89 |
| Daily Performance % | (0.2) |
| WTD Performance % | (0.8) |
| MTD Performance % | (1.2) |
| QTD Performance % | (1.2) |
| YTD Performance % | (4.2) |
| Daily Volume (Million) | 319.4 |
| Daily Value (N’bn) | 1.8 |
| Daily Value (US$’m) | 4.6 |
