Home Finance Sell-pressure on FLOURMILL, WAPCO dragged performance

Sell-pressure on FLOURMILL, WAPCO dragged performance

by Business News Report

Today, sell-pressure on FLOURMILL (-4.8%), WAPCO (-1.4%), and ZENITH (-0.6%) dragged performance on the local bourse as the All-Share index fell by 4bps to 39,505.40 points. Consequently, YTD loss worsened to -1.9% while market capitalisation fell by ₦8.8bn to ₦20.6tn. Trading activity declined as volume and value traded fell 25.1% and 49.2% respectively to 141.3m units and ₦1.6bn. The most traded stocks by volume were ETRANZACT (16.2m units), FIDELITY (10.4m units), and TRANSCORP (9.8m units) while NESTLE (₦492.0m), MTNN (₦296.1m), and ZENITH (₦130.5m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices declined, 2 indices gained while the AFR-ICT index closed flat. The gainers were the Insurance and Consumer Goods indices, up 4bps and 2bps respectively on the back of buying interest in MBENEFIT (+8.8%), WAPIC (+2.1%), HONYFLOUR (+9.8%), and DANGSUGAR (+2.6%). On the flip side, the Banking index lost the most, down 0.6% due to sell-pressure on FIDELITY (-4.8%) and ZENITH (-0.6%). Likewise, the Oil & Gas and Industrial Goods indices fell by 27bps and 9bps respectively, driven by price depreciation in TOTAL (-2.0%), CAP (-3.5%), and WAPCO (-1.4%).

Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened, settling at 1.6x from 1.3x recorded in the last trading session as 24 stocks advanced while 15 stocks declined. MRS (+9.9%), MAYBAKER (+9.8%), and HONYFLOUR (+9.8%) led gainers while ABCTRANS (-8.3%), LASACO (-6.7%), and LIVESTOCK (-4.8%) led losers. In the next trading session, we expect the market sentiment to remain mixed, as earnings season gradually winds up.

Market Statistics for Monday, 16th August 2021

Market Cap (N’bn)20,582.9
Market Cap (US$’bn)50.1
NSE All-Share Index39,505.40
Daily Performance %0.0
WTD Performance %0.0
MTD Performance %2.5
QTD Performance %4.2
YTD Performance %(1.9)
Daily Volume (Million)141.3
Daily Value (N’bn)1.6
Daily Value (US$’m)4.0

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