Today, the local bourse extended last week’s bearish run, due to sell pressure on ZENITH (-1.3%), WAPCO (-1.8%), and OANDO (-4.1%). Consequently, the NGX All-Share Index declined 2bps to close at 38,915.62 points, YTD loss worsened to -3.4% while market capitalisation fell ₦3.2bn to ₦20.3tn. Trading activity improved as volume and value traded rose by 30.1% and 11.4% to 201.1m units and ₦2.5bn respectively. The most traded stocks by volume were UNIVINSURE (19.4m units), FIDELITY (19.3m units), and FBNH (16.7m units) while NESTLE (₦1.2bn), STANBIC (₦202.1m), and UNILEVER (₦131.9m) led by value.
Performance was mixed across sectors under our coverage as 3 indices lost, 2 gained, while the AFR-ICT index closed flat. The Oil & Gas index led the laggards, down 0.7% due to profit taking in OANDO (-4.1%). Similarly, the Insurance and Industrial Goods indices dipped 0.1% apiece as a result of losses in WAPIC (-3.9%), MBENEFIT(-3.2%), and WAPCO (-1.8%). Meanwhile, the Consumer Goods and Banking indices advanced 0.2% and 0.1% respectively on the back of buying interest in HONYFLOUR (+1.3%), INTBREW (+4.2%), ACCESS (+1.1%), and FIDELITY (+4.4%).
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 0.9x from 0.7x as 18 stocks advanced while 19 stocks declined. MORISON (+9.4%), SOVRENINS (+8.0%), and LINKASSURE (+5.3%) led the gainers while SCOA (-10.0%), ACADEMY (-7.7%), and ABCTRANS (-5.7%) led the losers. In the next trading session, we expect local bourse to sustain bearish performance in the absence of any positive catalyst.
Market Statistics for Monday, 13th September 2021
|Market Cap (N’bn)||20,275.7|
|Market Cap (US$’bn)||49.3|
|NSE All-Share Index||38,915.62|
|Daily Performance %||0.0|
|WTD Performance %||0.0|
|MTD Performance %||(0.8)|
|QTD Performance %||2.7|
|YTD Performance %||(3.4)|
|Daily Volume (Million)||201.1|
|Daily Value (N’bn)||2.5|
|Daily Value (US$’m)||6.1|