The domestic equities market kicked off the week on a negative note on the back of profit-taking in INTBREW (-4.0%), ZENITH (-0.6%), and FBNH (-0.8%), as such the benchmark index shed 9bps to 43,270.94 points. Consequently, the YTD return moderated to 7.5% while market capitalisation shed ₦19.5bn to ₦22.6tn. Trading activity weakened as volume and value traded fell 30.2% and 34.1% respectively to 213.1m units and ₦2.4bn. FCMB (58.5m units), AIICO (13.5m units), and ZENITH (12.8m units) led activity by volume while AIRTELAF (₦679.8m), GTCO (₦309.7m), and ZENITH (₦308.7m) led by value.
Across our sector coverage, performance was mixed albeit negatively skewed as 3 indices lost, 1 index gained, while the Industrial Goods and AFR-ICT indices closed flat. The Insurance index was the lone gainer, up 82bps following bargain hunting in AIICO (+8.6%) and VERITASKAP (+4.8%). On the flip side, the Oil & Gas index led the laggards, down 56bps on account of sell pressure on OANDO (-2.3%). Trailing, the Banking and Consumer Goods indices shed 23bps and 18bps respectively due to profit-taking in ZENITH (-0.6%), FBNH (-0.8%), INTBREW (-4.0%), and FLOURMILL (-0.3%).
Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.6x from 0.8x as 13 stocks advanced while 21 stocks declined. AIICO (+8.6%), VERITASKAP (+4.8%), and ABCTRANS (+3.0%) led gainers while UPDC (-9.9%), UPDCREDIT (-9.9%), and CHIPLC (-7.3%) led decliners. We anticipate a mixed market performance in the next trading session due to the weak investor sentiment.
Market Statistics for Monday, 29th November 2021
|Market Cap (N’bn)||22,578.7|
|Market Cap (US$’bn)||54.9|
|NGX All-Share Index||43,270.94|
|Daily Performance %||(0.1)|
|WTD Performance %||(0.1)|
|MTD Performance %||2.9|
|QTD Performance %||7.6|
|YTD Performance %||7.5|
|Daily Volume (Million)||213.1|
|Daily Value (N’bn)||2.4|
|Daily Value (US$’m)||5.7|