Sell-offs in ZENITH (-0.7%), SEPLAT (-1.2%) and WAPCO (-0.9%) dragged the equities market southward today, as the benchmark index fell 6bps to close at 38,414.37 points. Consequently, YTD loss fell to -4.6% while market capitalisation declined by ₦12.3bn to settle at ₦20.0tn. Trading activity strengthened as volume and value traded rose by 39.4% and 26.2% to 274.9m units and ₦2.6bn respectively. The most traded stocks by volume were UCAP (24.0m units), VERITASKAP (23.1m units), and ETERNA (21.6m units) while ZENITH (₦470.7m), SEPLAT (₦285.0m), and GUARANTY (₦240.7m) led by value.
Across sectors under our coverage, performance was bearish as 4 indices lost, 1 gained and 1 Closed Flat. The Oil & Gas and Consumer Goods indices fell 0.9% and 0.3% respectively, following price depreciation in SEPLAT (-1.2%) and HONYFLOUR (-6.6%). Similarly, the Banking and Industrial Goods indices declined 0.1% apiece, due to sell-offs in ZENITH (-0.7%) and WAPCO (-0.9%). Conversely, the Insurance index rose 1.5% on the back of buying interest in WAPIC (+9.4%). However, the AFRI-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 1.1x from 0.7x in the last trading session as 18 stocks advanced while 17 declined. MORISON (+9.6%), WAPIC (+9.4%) and UPL (+9.4%) led gainers while CHAMPION (-9.9%), JOHNHOLT (-7.9%) and AFRIPRUD (-7.3%) led decliners. In the next trading session, we expect market performance to remain tepid, due to absence of positive drivers.
Market Statistics for Tuesday, 1st June 2021
|Market Cap (N’bn)||20,022.5|
|Market Cap (US$’bn)||48.7|
|NSE All-Share Index||38,414.37|
|Daily Performance %||(0.1)|
|WTD Performance %||0.4|
|MTD Performance %||(0.1)|
|QTD Performance %||(1.6)|
|YTD Performance %||(4.6)|
|Daily Volume (Million)||274.9|
|Daily Value (N’bn)||2.6|
|Daily Value (US$’m)||6.4|