The equities market ended the first trading session in March in the green following price upticks in ZENITH (+1.4%), UBA (+2.5%) and BUACEMENT (+3.8%),. As a result, the benchmark index gained 33bps to 39,931.63 points, YTD return eased to -0.8% and market capitalisation increased by ₦68.9bn to ₦20.9tn. Trading activity varied as volume improved by 7.2% to 544.0m units and value dipped 22.7% to ₦1.9bn. The most traded stocks by volume were WEMA (369.7m units), ZENITH (20.6m units) and TRANSCORP (13.0m units) while ZENITH (₦529.1m), WEMA (₦240.3m) and MTNN (₦151.2m) led by value.
Performance across sectors was mixed as 3 of the 6 indices under our coverage closed southward. The Industrial Goods and Banking indices gained 1.5% and 0.3% respectively due to price appreciation in BUACEMENT (+3.8%), ZENITH (+1.4%) and UBA (+2.5%). Conversely, the Insurance and Consumer Goods indices closed lower by 1.1% and 0.5% respectively following sell pressures in MANSARD (-1.9%), WAPIC (-5.6%), NASCON (-10.0%) and PZ (-9.4%). Sell-offs in OANDO (-1.2%) dragged the Oil & Gas index lower by 0.1%. Lastly, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.4x from the 0.7x recorded previously as 12 stocks advanced against 28 decliners. UACN (+6.7%), AIICO (+5.2%) and VERITASKAP (+5.0%) were the top gainers while Consumer Goods tickers – NASCON (-10.0%), CHAMPION (-9.9%) and PZ (-9.4%) – were the top losers. Although, we are not optimistic about gains this week as investor sentiment remains weak, we expect earnings releases and dividends declaration to influence trading activity.
Market Statistics for Monday, 1st March 2021
|Market Cap (N’bn)||20,892.4|
|Market Cap (US$’bn)||54.1|
|NSE All-Share Index||39,931.63|
|Daily Performance %||0.3|
|WTD Performance %||0.3|
|MTD Performance %||(5.8)|
|QTD Performance %||(0.8)|
|YTD Performance %||(0.8)|
|Daily Volume (Million)||544.0|
|Daily Value (N’bn)||1.9|
|Daily Value (US$’m)||4.9|