Trading activity on the domestic bourse today closed negatively, as the All-Share Index declined by 10bps to close at 38,287.58 points following profit-taking on GUARANTY (-0.9%), UBA (-1.4%), and ACCESS (-1.8%). Consequently, YTD loss worsened to -4.9% while market capitalisation declined by ₦19.1bn to settle at ₦19.9tn. Trading activity receded as volume and value traded fell by 19.0% and 43.9% respectively to 141.1m and units ₦1.1bn. The most traded stocks by volume were UAC-PROP (17.3m units), FBNH (11.3m units), and CHAMS (7.9m units) while ZENITH (₦166.1m), GUARANTY (₦104.8m), and NESTLE (₦104.4m) led by value.
Across sectors under our coverage, performance was mixed as 3 indices gained and lost. The Oil & Gas and AFRI-ICT indices gained 0.2% apiece, driven by price appreciation in OANDO (+3.4%), and MTNN (+0.3%). The Industrial goods index also gained 0.1%, driven by a 0.3% price uptick in DANGCEM. Conversely, the Banking, Consumer goods, and Insurance indices fell by 0.7% apiece, driven by price decline in GUARANTY (-0.9%), HONYFLOUR (-2.6%), and AIICO (-4.7%) respectively.
Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 1.1x from 1.0x in the last trading session as 18 stocks advanced while 17 declined. ROYALEX (+9.7%), REGALINS (+8.8%) and CHIPLC (+7.8%) led gainers while ABCTRANS (-9.8%), ENAMELWA (-9.7%) and UAC-PROP (-8.4%) led decliners. We expect to see cautious trading tomorrow, as investors await CBN’s policy reaction to the recently released GDP and inflation numbers by the end of the MPC meeting tomorrow.
Market Statistics for Monday, 24th May 2021
| Market Cap (N’bn) | 19,956.4 |
| Market Cap (US$’bn) | 48.6 |
| NSE All-Share Index | 38,287.58 |
| Daily Performance % | (0.1) |
| WTD Performance % | (0.1) |
| MTD Performance % | (3.9) |
| QTD Performance % | (1.9) |
| YTD Performance % | (4.9) |
| Daily Volume (Million) | 141.1 |
| Daily Value (N’bn) | 1.1 |
| Daily Value (US$’m) | 2.7 |
Source: Afrinvest
