Sell-off persisted on the domestic exchange today, as the All-Share Index declined by 8bps to close at 38,256.76 points following price decline in GUARANTY (-1.2%), GUINNESS (-0.2%), and FBNH (-1.4%). Consequently, YTD loss worsened to -5.0% while market capitalisation declined by ₦16.1bn to settle at ₦19.9tn. Trading activity improved as volume and value traded increased by 77.3% and 41.8% respectively to 250.2m units and ₦1.6bn. The most traded stocks by volume were COURTVILLE (36.9m units), ZENITH (28.2m units), and JAIZBANK (25.9m units) while ZENITH (₦649.4m), GUARANTY (₦206.0m), and UACN (₦80.9m) led by value.
Across sectors under our coverage, performance was mixed as two indices lost, 1 gained, while the other 3 closed flat. The Banking and Insurance indices lost 0.5% and 1.6% respectively, following sell-offs in GUARANTY (-1.2%), FBNH (-1.4%), AIICO (-5.0%), and MANSARD (-4.4%). Conversely, the Consumer Goods index emerged as the lone gainer, up by 2bps due to price uptick in VITAFOAM (+2.8%), UNILEVER (+1.2%), and HONYFLOUR (+2.6%). However, the Oil & Gas, Industrial Goods, and AFRI-ICT indices closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio), weakened to 0.6x from 1.1x in the last trading session as 11 stocks advanced while 17 declined. CILEASING (+9.9%), ROYALEX (+8.8%) and CHIPLC (+7.3%) led gainers while LASACO (-7.1%), CHAMPION (-5.7%) and AIICO (-5.0%) led decliners. With the CBN’s retention of all monetary policy parameters at the just concluded MPC meeting, we expect to see some bargain hunting on fundamentally viable stocks in the next trading session.
Market Statistics for Tuesday, 25th May 2021
|Market Cap (N’bn)||19,940.3|
|Market Cap (US$’bn)||48.5|
|NSE All-Share Index||38,256.76|
|Daily Performance %||(0.1)|
|WTD Performance %||(0.2)|
|MTD Performance %||(4.0)|
|QTD Performance %||(2.0)|
|YTD Performance %||(5.0)|
|Daily Volume (Million)||250.2|
|Daily Value (N’bn)||1.6|
|Daily Value (US$’m)||3.8|