At the close of trade today, the benchmark index gained 41bps to 38,720.81 points following buying interest in DANGCEM (+3.6%), MTNN (+1.2%) and GUINNESS (+10.0%). Accordingly, the YTD loss improved to -3.8% and market capitalisation increased by ₦83.2bn to ₦20.3tn. Trading activity improved as volume and value rose by 19.7% and 67.1% respectively to 220.9m units and ₦4.2bn. The most traded stocks by volume were UBA (24.4m units), ACCESS (19.1m units) and MBENEFIT (17.9m units) while NOTORE (₦960.0m), DANGCEM (₦933.0m) and NESTLE (₦617.6m) led by value.
Across sectors under our coverage, performance was mixed as 3 indicators appreciated, 2 lost and the Oil & Gas index closed flat. The Industrial Goods and AFR-ICT indices gained 1.7% and 0.6% respectively following price upticks in DANGCEM (+3.6%) and MTNN (+1.2%). Similarly, the Consumer Goods index closed higher by 0.2% due to demand for GUINNESS (+10.0%) and VITAFOAM (+5.4%). On the flip side, losses in WAPIC (-9.1%), MANSARD (-3.8%), GUARANTY (-4.8%) and ZENITH (-4.3%) dragged the Insurance and Banking indices down by 1.1% and 3.5% respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from the 1.0x recorded previously as 11 stocks advanced against 19 losers. REGALINS (+10.0%), GUINNESS (+10.0%) and JAIZBANK (+9.7%) were the top advancers while WAPIC (-9.1%), AFRIPRUD (-8.3%) and FIDELITY (-6.7%) were the top losers. We anticipate that gains would not be sustained in subsequent trading sessions as sentiment towards the market remains weak.
Market Statistics for Tuesday, 16th March 2021
|Market Cap (N’bn)||20,258.9|
|Market Cap (US$’bn)||52.5|
|NSE All-Share Index||38,720.81|
|Daily Performance %||0.4|
|WTD Performance %||0.2|
|MTD Performance %||(2.7)|
|QTD Performance %||(3.8)|
|YTD Performance %||(3.8)|
|Daily Volume (Million)||220.9|
|Daily Value (N’bn)||4.2|
|Daily Value (US$’m)||10.9|