In tandem with our outlook yesterday, buying interest in WAPCO (+3.1%), FBNH (+1.8%), and UBN (+3.7%) bolstered performance today as the NGX All-Share Index rose 0.3% to 43,607.94 points. Accordingly, YTD return strengthened to 2.1% while market capitalisation advanced ₦70.7bn to ₦23.5tn. Trading activity faltered as volume and value traded dipped 85.9% and 95.0% to 174.6m units and ₦2.1bn respectively. FBNH (27.1m units), UBA (22.0m units), and TRANSCORP (12.0m units) led by volume while BUAFOODS (₦544.7m), FBNH (₦307.3m), and ZENITH (₦260.6m) led by value.
Across our sector coverage, performance was bearish as 4 indices lost, 1 gained while the AFR-ICT index closed flat. The Insurance and Oil & Gas indices lost 1.3% and 0.9% respectively on the back of sell-offs in NEM (-7.8%), MANSARD (-1.7%), and OANDO (-5.2%). Similarly, the Industrial and Consumer Goods indices dipped 0.4% and 0.1% respectively due to losses in BUACEMENT (-1.4%) and UNILEVER (-3.5%). Conversely, Banking index was the lone gainer, up 0.4% following bargain hunting in ACCESS (+1.6%), UBA (+0.6%), and ZENITH (+0.2%).
Investor sentiment, as measured by market breadth (advance/decline ratio), firmed up to 1.8x from 1.2x as 24 stocks gained while 13 stocks lost. BUAFOODS (+10.0%), ACADEMY (+9.1%), and MEYER (+8.7%) led gainers while SUNUASSURE (-9.8%), NEM (-7.8%), and FTNCOCOA (-7.7%) led decliners. In the final trading session, we expect the local bourse to extend the positive momentum as investor sentiment continues to build up.
Market Statistics for Thursday, 6th January 2022
| Market Cap (N’bn) | 23,426.5 |
| Market Cap (US$’bn) | 57.0 |
| NGX All-Share Index | 43,607.94 |
| Daily Performance % | 0.3 |
| WTD Performance % | 2.1 |
| MTD Performance % | 2.1 |
| QTD Performance % | 2.1 |
| YTD Performance % | 2.1 |
| Daily Volume (Million) | 174.6 |
| Daily Value (N’bn) | 2.1 |
| Daily Value (US$’m) | 5.2 |
