The local bourse opened the week on a positive note as investors took position in GUARANTY (+1.2%), MTNN (+0.2%), and FCMB (+9.8%). Consequently, the All-Share index rose 10bps to close at 38,848.02 points, YTD loss moderated to -3.5% while market capitalisation increased by ₦20.9bn to ₦20.3tn. Trading activity improved as volume and value traded surged 93.8% and 1,216.6% respectively to 508.6m units and ₦32.1bn. The most traded stocks by volume were MTNN (181.7m units), FIDELITY (106.9m units), and FBNH (35.0m units) while MTNN (₦29.7bn), ZENITH (₦392.8m), and GUARANTY (₦376.4m) led by value.
Across sectors under coverage, performance was bullish as 4 of the 6 indicators closed in the green. The Insurance index led gainers, up 0.4% due to price appreciation in MANSARD (+1.1%) and MBENEFIT (+8.8%) while the Banking index rose 0.3% on account of buying interest in GUARANTY (+1.2%) and FCMB (+9.8%). Similarly, gains in INTBREW (+1.8%), HONYFLOUR (+9.2%), and MTNN (+0.2%) drove the Consumer Goods and AFR-ICT indices higher by 0.1% apiece. Conversely, the Oil & Gas index was the lone laggard, down 0.2% following sell-offs in TOTAL (-4.3%). Finally, the Industrial Goods index closed flat.
Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.5x from the 2.1x recorded in the previous session as 18 stocks advanced against 12 decliners. FCMB (+9.8%), NNFM (+9.3%) and UPL (+9.3%) were the top gainers while FTNCOCOA (-10.0%), UNITYBNK (-7.8%) and UAC-PROP (-5.1%) were the top decliners. In subsequent trading sessions, we expect the market to remain subdued by increased sell-offs given the weak investor sentiment and expected rise in marginal rates at this week’s bond auction.
Market Statistics for Monday, 19th April 2021
|Market Cap (N’bn)||20,331.0|
|Market Cap (US$’bn)||52.7|
|NSE All-Share Index||38,848.02|
|Daily Performance %||0.1|
|WTD Performance %||0.1|
|MTD Performance %||(0.5)|
|QTD Performance %||(0.5)|
|YTD Performance %||(3.5)|
|Daily Volume (Million)||508.6|
|Daily Value (N’bn)||32.1|
|Daily Value (US$’m)||83.2|