The domestic stock market was mildly dominated by bullish sentiment as the benchmark index went up by 2bps due to buying interest in MTNN (+1.1%), NESTLE (+3.3%), and STANBIC (+3.1%). Consequently, the All-Share index settled at 38,774.03 points, YTD loss remained at -3.7% and market capitalisation appreciated by ₦3.9bn to settle at ₦20.3tn. Trading activity improved as volume and value traded escalated 58.7% and 95.6% respectively to 356.5m units and ₦4.2bn. The most traded stocks by volume were ZENITH (55.0m units), ACCESS (38.4m units), and TRANSCORP (31.9m units) while ZENITH (₦1.2bn), GUARANTY (₦819.1m), and NESTLE (₦521.4m) led by value.
Across sectors that we cover, performance was bearish as 4 out of 6 indicators closed negative. The Banking index led the laggards, down 3.1% due to price depreciation in ZENITH (-4.1%), GUARANTY (-3.3%) and ACCESS (-2.5%). Similarly, the Insurance, Oil & Gas and Industrial Goods indices declined by 1.7%, 0.3% and 0.1% respectively as we saw sell-offs in MANSARD (-3.0%), AIICO (-0.8%), ARDOVA (-3.7%) and WAPCO (-2.3%). Conversely, the Consumer Goods and AFR-ICT indices improved by 1.9% and 0.5% respectively on the back of buying interest in NESTLE (+3.3%), FLOURMIL (+6.9%), and MTNN (+1.1%).
Investor sentiment, as measured by market breadth (advance/decline ratio), continued to shrink to 0.4x from 0.7x recorded previously as 11 stocks advanced against 27 decliners. JAIZBANK (+10.0%), INITSPLC (+9.5%) and ROYALEX (+8.3%) were the top gainers while PHARMDEK (-9.5%), STERLNBA (-9.5%) and PRESTIGE (-8.7%) were the top decliners. In subsequent trading sessions, we anticipate that the equities market will sustain a positive momentum.
Market Statistics for Wednesday, 7th April 2021
|Market Cap (N’bn)||20,286.8|
|Market Cap (US$’bn)||52.6|
|NSE All-Share Index||38,774.0|
|Daily Performance %||0.0|
|WTD Performance %||(0.4)|
|MTD Performance %||(0.7)|
|QTD Performance %||(0.7)|
|YTD Performance %||(3.7)|
|Daily Volume (Million)||356.5|
|Daily Value (N’bn)||4.2|
|Daily Value (US$’m)||10.9|