At the close of trade, the local bourse posted a bearish performance as the NSE All-Share Index fell 12bps to close at 41,099.15 points due to sell-offs in DANGCEM (-0.2%), MANSARD (-9.8%), and UBA (-1.7%). As a result, the YTD return moderated to 2.1% while market capitalisation declined by ₦25.4bn to settle at ₦21.5tn. Activity level improved as volume and value traded rose 72.6% and 38.7% to 1.1bn units and ₦6.4bn respectively. The most traded stocks by volume were TRANSCORP (428.3m units), GUARANTY (62.1m units), and SOVRENINS (61.4m units) while GUARANTY (₦2.0bn), ZENITH (₦708.1m), and WAPCO (₦620.5m) topped by value.
Performance across sectors was largely bearish as 4 of 6 indices under our coverage closed southward. The Industrial Goods and Oil & Gas indices rose 0.3% and 0.2% respectively due to price appreciation in WAPCO (+5.5%) and ARDOVA (+3.5%). Conversely, the Insurance index led the laggards, down 6.7% due to sell-offs in MANSARD (-9.8%), AIICO (-9.4%) and WAPIC (-9.7%). Similarly, the Consumer Goods and Banking indices lost 0.3% and 0.2% respectively due to sell pressures in FLOURMILL (-2.8%), DANGSUGAR (-1.0%), UBA (-1.7%) and UBN (-2.7%). Price depreciation in MTNN (-0.1%) and CHAMS (-10.0%) drove the AFR-ICT index 0.1% lower.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.3x from the 3.7x recorded previously as 14 stocks advanced against 49 decliners. NNFM (+10.0%), MULTIVERSE (+10.0%) and CHAMPION (+9.9%) were the best-performing tickers while CHAMS (-10.0%), PRESTIGE (-10.0%) and TOURIST (-9.8%) were the losers. We expect the equities market to close on a bearish note for the week.
Market Statistics for Thursday, 21st January 2021
|Market Cap (N’bn)||21,499.4|
|Market Cap (US$’bn)||55.7|
|NSE All-Share Index||41,099.15|
|Daily Performance %||(0.1)|
|WTD Performance %||(0.2)|
|MTD Performance %||2.1|
|QTD Performance %||2.1|
|YTD Performance %||2.1|
|Daily Volume (Million)||1,124.4|
|Daily Value (N’bn)||6.4|
|Daily Value (US$’m)||16.6|