Local bourse maintained gains as the benchmark index rose 0.2% to close at 39,382.96 points following buying interest in DANGCEM (+1.6%), ZENITH (+1.1%) and PRESCO (+9.6%). Consequently, YTD loss improved to -2.2% while market capitalisation rose ₦36.6bn to ₦20.5tn. Trading activity varied as volume fell 8.5% to 296.6m units while value traded rose 2.5% to ₦3.4bn. The most traded stocks by volume were ACCESS (58.6m units), UACN (38.3m units) and FIDELITY (27.2m units) while ZENITH (₦609.7m), PRESCO (₦525.0m), and ACCESS (₦494.1m) led by value.
Across sectors under our coverage, performance was bearish as 4 indicators lost while 2 gained. The Banking index led the losers, down 0.3% due to profit taking in GUARANTY (-1.5%) and STANBIC (-2.0%). Similarly, the Oil & Gas and AFR-ICT indices declined 0.1% apiece following sell-offs in OANDO (-1.6%) and MTNN (-0.2%). In the same vein, the Consumer Goods index fell 2bps on the back of price depreciation in HONYFLOUR (-5.8%). On the flip side, the Insurance and Industrial Goods indices rose 1.3% and 0.7% respectively as a result of buying interest in AIICO (+0.8%) and DANGCEM (+1.6%).
Investor sentiment as measured by market breadth (advance/decline ratio), weakened to 1.2x from the 1.9x recorded in the previous session as 21 stocks advanced while 17 declined. MEYER (+9.6%), PRESCO (+9.6%) and UAC-PROP (+9.2%) led gainers while REGALINS (-8.8%), HONYFLOUR (-5.8%) and CUTIX (-5.0%) led decliners. In the next trading session, we expect the recent price appreciation of some large-cap stocks to trigger profit taking by speculative investors.
Market Statistics for Monday, 11th May 2021
|Market Cap (N’bn)||20,527.3|
|Market Cap (US$’bn)||53.2|
|NSE All-Share Index||39,382.96|
|Daily Performance %||0.2|
|WTD Performance %||0.5|
|MTD Performance %||(1.1)|
|QTD Performance %||0.9|
|YTD Performance %||(2.2)|
|Daily Volume (Million)||296.6|
|Daily Value (N’bn)||3.4|
|Daily Value (US$’m)||8.7|