Price appreciation in BUACEMENT (+5.1%), STANBIC (+10.0%) and INTBREW (+5.9%) buoyed performance in the market today. Consequently, the benchmark index rose 89bps to 38,722.87 points, YTD loss improved to -3.8% and market capitalisation increased ₦178.1bn to ₦20.3tn. Trading activity declined as volume and value fell 4.6% and 24.0% respectively to 277.2m units and ₦3.1bn. The most traded stocks by volume were UBN (79.9m units), GUARANTY (36.1m units) and FBNH (33.3m units) while GUARANTY (₦1.1bn), ZENITH (₦562.5m) and UBN (₦423.4m) led by value.
Across sectors that we cover, performance was bullish as 4 indicators gained. The Industrial Goods index led the gainers, up 2.1% following price uptick in BUACEMENT (+5.1%). Also, the Insurance and Consumer Goods indices appreciated 0.4% and 0.3% respectively on the back of gains in MANSARD (+1.0%), LASACO (+3.3%), INTBREW (+5.9%) and VITAFOAM (+3.9%). Conversely, sell-offs in UBA (-3.5%) pushed the Banking banking index lower by 1bp. Lastly, the AFR-ICT index closed flat.
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 3.3x from the 2.3x recorded previously as 26 stocks gained against 8 decliners. JBERGER (+10.0%), STANBIC (+10.0%) and UACN (+6.7%) were the top gainers while CHAMPION (-8.2%), JAIZBANK (-4.5%) and JAPAULGOLD (-4.1%) were the top decliners. We expect a mix of bargain-hunting and profit-taking in the local bourse this week.
Market Statistics for Monday, 22nd March 2021
| Market Cap (N’bn) | 20,260.0 |
| Market Cap (US$’bn) | 52.5 |
| NSE All-Share Index | 38,722.87 |
| Daily Performance % | 0.9 |
| WTD Performance % | 0.9 |
| MTD Performance % | (2.7) |
| QTD Performance % | (3.8) |
| YTD Performance % | (3.8) |
| Daily Volume (Million) | 277.2 |
| Daily Value (N’bn) | 3.1 |
| Daily Value (US$’m) | 7.9 |
