Today, we saw a rebound in the domestic bourse as the benchmark index rose 33bps to 40,573.31 points on the back of buying interest in SEPLAT (+10.0%), WAPCO (+5.1%), and GUARANTY (+1.5%). Consequently, the YTD return increased to 0.8% while market capitalisation inched higher by ₦69.8bn to settle at ₦21.2tn. Activity level waned as volume and value traded declined 47.9% and 58.3% respectively to 206.2m units and ₦2.2bn. The most traded stocks by volume were ZENITH (21.5m units), MBENEFIT (15.0m units) and UAC-PROP (14.8m units) while ZENITH (₦539.6m), GUARANTY (₦382.7m) and MTNN (₦349.8m) led by value.
Performance across sectors was positive as all indices under our coverage gained save the AFR-ICT index which closed lower by 0.6% on account of sell-offs in MTNN (-1.1%). The Oil & Gas index led the gainers, up 5.4% due to a price uptick in SEPLAT(+10.0%). Similarly, the Banking and Insurance indices inched higher by 1.8% and 1.4% respectively as a result of gains in GUARANTY (+1.5%), ACCESS (+4.3%) and AIICO (+9.3%). The Industrial and Consumer Goods indices also appreciated 35bps and 1bp respectively as WAPCO (+5.1%) and CHAMPION (+7.0%) ticked higher.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 2.3x from the 3.4x recorded previously as 30 stocks gained against 13 losers. SEPLAT (+10.0%), MBENEFIT (+9.5%) and AIICO (+9.3%) were the top gainers while CONOIL (-10.0%), ROYALEX (-10.0%) and RTBRISCOE (-9.1%) were the top losers. We believe bargain hunting would boost the performance of the market this week.
Market Statistics for Monday, 15th February 2021
| Market Cap (N’bn) | 21,225.7 |
| Market Cap (US$’bn) | 55.0 |
| NSE All-Share Index | 40,573.31 |
| Daily Performance % | 0.3 |
| WTD Performance % | 0.3 |
| MTD Performance % | (4.3) |
| QTD Performance % | 0.8 |
| YTD Performance % | 0.8 |
| Daily Volume (Million) | 206.2 |
| Daily Value (N’bn) | 2.2 |
| Daily Value (US$’m) | 5.6 |
Source: Afrinvest
