The domestic bourse maintained bearish momentum for the third consecutive session as the benchmark index declined 63bps to 40,212.19 points on the back of sell-offs in MTNN (-0.9%), ZENITH (-3.6%), and GUARANTY (-1.9%). Consequently, the YTD return turned negative at -0.1% while market capitalisation fell by ₦132.4bn to settle at ₦21.0tn. Activity level rebounded as volume and value traded improved 74.6% and 79.0% respectively to 426.3m units and ₦4.8bn. The most traded stocks by volume were FBNH (129.8m units), ZENITH (37.7m units) and DANGSUGAR (37.1m units) while GUARANTY (₦1.1bn), FBNH (₦949.3m) and ZENITH (₦912.0m) led by value.
Performance across sectors was poor as all indices under our coverage declined. The Banking and Insurance indices lost the most, down 2.6% and 1.5% respectively due to declines in ZENITH (-3.6%), GUARANTY (-1.9%) and MANSARD (-3.3%). Similarly, the Consumer Goods and AFR-ICT indices inched lower by 0.5% apiece as a result of losses in DANGSUGAR (-2.9%) and MTNN (-0.9%). The Oil & Gas and Industrial Goods indices also declined 0.2% and 0.1% respectively as OANDO (-2.6%) and WAPCO (1.7%) ticked lower.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.3x from the 0.8x recorded previously as 10 stocks gained against 30 losers. RTBRISCOE (+10.0%), CORNERST (+8.5%) and ROYALEX (+8.0%) were the top gainers while UPL (-9.1%), CHAMS (-8.3%) and UPDCREIT (-7.8%) were the top losers. We expect the market to close the week on a negative note due to sustained losses.
Market Statistics for Thursday, 18th February 2021
| Market Cap (N’bn) | 21,036.8 |
| Market Cap (US$’bn) | 54.5 |
| NSE All-Share Index | 40,212.19 |
| Daily Performance % | (0.6) |
| WTD Performance % | (0.6) |
| MTD Performance % | (5.2) |
| QTD Performance % | (0.1) |
| YTD Performance % | (0.1) |
| Daily Volume (Million) | 426.3 |
| Daily Value (N’bn) | 4.8 |
| Daily Value (US$’m) | 12.3 |
