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|