Buying interest in MTNN (+1.5%), FCMB (+2.9%) and WAPCO (+0.5%) buoyed market performance as the All-Share index rose 0.2% to 38,548.24 points. Consequently, YTD loss improved to -4.3% while market capitalisation increased by ₦34.3bn to settle at ₦20.1tn. Trading activity strengthened as volume and value traded rose by 59.1% and 41.2% to 249.7m units and ₦1.9bn respectively. The most traded stocks by volume were SOVRENINS (35.5m units), FCMB (22.7m units), and MANSARD (16.9m units) while STANBIC (₦182.9m), WAPCO (₦100.3m), and MTNN (₦99.2m) led by value.
Across sectors under our coverage, performance was bullish as 5 indices gained while 1 index lost. The AFR-ICT and Consumer Goods indices led gainers, up 0.8% and 0.2% respectively, due to buying interest in MTNN (+1.5%) and FLOURMILL (+1.1%). Similarly, the Insurance, Oil & Gas and Industrial Goods indices rose 6bps, 5bps and 1bps respectively, following price appreciation in REGALINS (+3.8%), OANDO (+0.7%) and WAPCO (+0.5%). Conversely, the Banking index fell 0.5% on the back of sell-offs in FBNH (-0.7%) and UBA (-0.7%).
Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 1.2x from 0.8x in the last trading session as 18 stocks advanced while 15 declined. UPL (+10.0%), BERGER (+9.8%) and JOHNHOLT (+9.4%) led gainers while CWG (-9.6%), UBN (-6.7%) and SOVRENINS (-6.7%) led decliners. We expect the market to close positive for the week.
Market Statistics for Thursday, 3rd June 2021
|Market Cap (N’bn)||20,092.3|
|Market Cap (US$’bn)||48.9|
|NSE All-Share Index||38,548.24|
|Daily Performance %||0.2|
|WTD Performance %||0.8|
|MTD Performance %||0.3|
|QTD Performance %||(1.3)|
|YTD Performance %||(4.3)|
|Daily Volume (Million)||249.7|
|Daily Value (N’bn)||1.9|
|Daily Value (US$’m)||4.6|