Today, the All-Share Index fell 40bps to 43,549.28 points due to profit-taking in MTNN (-0.5%), GTCO (-0.9%), and ZENITH (-0.4%). Accordingly, the market capitalisation fell ₦82.5bn to ₦22.7tn while YTD return weakened 40bps to 8.1%. Market activity dwindled as volume and value traded dipped 40.4% and 62.0% respectively to 161.3m units and ₦2.1bn. FBNH (28.2m units), TRANSCORP (23.5m units), and ZENITH (12.5m units) topped the volume chart while MTNN (₦405.3m), FBNH (₦322.1m), and ZENITH (₦301.2m) led by value.
Performance across sectors within our coverage was bearish as 4 indices lost while the Consumer Goods and Oil & Gas indices closed flat. The Insurance and Banking indices shed 0.9%, due to price depreciation in WAPIC (-2.0%) and GTCO (-0.9%). Similarly, the AFR-ICT index declined 0.7% dampened by sell pressure on MTNN (-0.5%) while CUTIX (-8.1%) pulled the Industrial Goods index lower by 0.1%.
Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.6x from 0.9x as 19 stocks lost relative to 12 gainers. UNITYBNK (+7.3%), FTNCOCOA (+5.0%), and UNIVINSURE (+4.8%) led gainers while CORNERST (-8.8%), CUTIX (-8.1%), and REGALINS (-7.3%) led decliners. In the final trading session of the week, we anticipate a mild bullish close due to bargain hunting activities.
Market Statistics for Thursday, 11th November 2021
|Market Cap (N’bn)||22,726.9|
|Market Cap (US$’bn)||55.3|
|NGX All-Share Index||43,549.28|
|Daily Performance %||(0.4)|
|WTD Performance %||3.7|
|MTD Performance %||3.6|
|QTD Performance %||8.3|
|YTD Performance %||8.1|
|Daily Volume (Million)||161.3|
|Daily Value (N’bn)||2.1|
|Daily Value (US$’m)||5.2|