The domestic stock market extended the bullish sentiment as the All-Share Index rose 7bps to settle at 38,799.83 points due to buying interest in ZENITH (+3.8%), GUARANTY (+2.7%) and ACCESS (+1.9%). Consequently, YTD loss at -3.7% was sustained and market capitalisation appreciated by ₦3.9bn to settle at ₦20.3tn. Trading activity worsened as volume and value traded declined 59.2% and 62.4% respectively to 145.3m units and ₦1.6bn. The most traded stocks by volume were FBNH (21.9m units), GUARANTY (20.5m units), and ZENITH (17.6m units) while GUARANTY (₦589.2m), ZENITH (₦379.9m),and FBNH (₦157.2) led by value.
Across sectors that we cover, performance was mixed. The Banking index led the gainers, up 2.2% due to price appreciation in ZENITH (+3.8%), GUARANTY (+2.7%) and ACCESS (+1.9%). Similarly, the Insurance and Oil & Gas indices advanced by 0.6% and 0.4% respectively as we saw buying interest in AIICO (+5.0%) and OANDO (+5.2%). Conversely, the Consumer Goods index declined by 0.2% due to profit taking in INTBREW (-2.6%) and HONYFLOUR (-5.0%). AFR-ICT and Industrial Goods indices closed flat.
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.1x from 0.4x recorded in the previous session as 13 stocks advanced against 12 decliners. CHIPLC (+9.7%), JAPAULGO (+9.4%) and OANDO (+5.2%) were the top gainers while ROYALEX (-7.7%), STANBIC (-6.9%), and JAIZBANK (-6.1%) were the top decliners. In the last trading session of week, we expect to see a mild reduction in the market gains as investors tilt a little towards the fixed income market.
Market Statistics for Thursday, 8th April 2021
|Market Cap (N’bn)||20,300.3|
|Market Cap (US$’bn)||52.6|
|NSE All-Share Index||38,799.83|
|Daily Performance %||0.1|
|WTD Performance %||(0.3)|
|MTD Performance %||(0.6)|
|QTD Performance %||(0.6)|
|YTD Performance %||(3.7)|
|Daily Volume (Million)||145.3|
|Daily Value (N’bn)||1.6|
|Daily Value (US$’m)||4.1|