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 |