Sell pressures in MTNN (-2.9%), ACCESS (-3.6%), and STANBIC (-1.0%) dragged the All-Share Index lower by 57bps to settle at 39,045.13 points. Consequently, YTD loss worsened to -3.0% and investors lost ₦116.1bn as market capitalisation decreased to ₦20.4tn. Trading activity was mixed as volume traded rose 3.3% to 347.2m units while value traded fell 14.2% to ₦2.8bn. The most traded stocks by volume were WEMABANK (94.0m units), UBN (78.9m units), and ZENITH (22.1m units) while SEPLAT (₦519.9m), ZENITH (₦500.2m), and UBN (₦418.2m) led by value.
Across sectors that we cover, performance was mixed as 3 out of 6 indicators closed in the green. The Insurance index led gainers, up 2.2% due to buying interest in NEM (+9.5%), AIICO (+3.3%), and LINKASSURE (+10.0%). Similarly, the Consumer Goods and Oil & Gas indices rose 0.4% and 2bps respectively following price appreciation in GUINNESS (+7.3%), DANGSUGAR (+2.4%), and OANDO (+0.3%). Conversely, the AFR-ICT index led the laggards, down 1.4% on account of losses in MTNN (-2.9%). Likewise, the Banking and Industrial Goods indices fell 0.8% and 3bps respectively on the back of sell-offs in ACCESS (-3.6%), STANBIC (-1.0%), and WAPCO (-0.7%).
Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.8x from the 1.7x recorded previously as 18 stocks gained against 23 decliners. LINKASSURE (+10.0%), MEYER (+9.8%) and PRESTIGE (+9.8%) were the top gainers while DAARCOMM (-8.7%), WEMABANK (-8.1%) and UPL (-7.8%) were the top decliners. We expect the equities market to close in the red for the week. However, opportunities for bargain hunting exist.
Market Statistics for Wednesday, 31st March 2021
|Market Cap (N’bn)||20,428.6|
|Market Cap (US$’bn)||52.9|
|NSE All-Share Index||39,045.13|
|Daily Performance %||(0.6)|
|WTD Performance %||(0.4)|
|MTD Performance %||(1.9)|
|QTD Performance %||(3.0)|
|YTD Performance %||(3.0)|
|Daily Volume (Million)||347.2|
|Daily Value (N’bn)||2.8|
|Daily Value (US$’m)||7.3|