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 |