The local bourse resumed trading for the week on a bearish note, as sell pressure on MTNN (-0.6%), ZENITH (-2.2%), and BUACEMENT (-0.7%) dragged the All-Share Index lower by 36bps to 37,857.89 points. Consequently, the YTD loss worsened to -6.0% while market capitalisation dipped by ₦70.9bn to ₦19.7tn. Trading activities was mixed as volume traded fell by 22.6% to 187.2m units while value traded rose by 6.7% to ₦2.9bn. The most traded stocks by volume were ZENITH (35.3m units), SOVRENIN (14.2m units), and UBA (14.1m units) while ZENITH (₦870.9m), MTNN (₦777.7m), and AIRTELAF (₦414.7m) led by value.
Across sectors under our coverage, performance was bearish as 5 indices lost while 1 index gained. The Banking index led losers down 1.0% due to price depreciation in ZENITH (-2.2%), and FBNH (-2.6%). Similarly, the Consumer Goods and AFR-ICT indices dipped by 0.4% apiece due to sell-offs in PZ (-1.7%), HONYFLOUR (-0.6%), and MTNN (-0.6%). In the same vein, the Industrial Goods and Insurance indices fell by 35bps and 3bps respectively due to losses in INTBREW (-5.7%), BUACEMENT (-0.7%) and MANSARD (-2.3%). Conversely, the Oil & Gas index was the lone gainer, up 5bps on the back of buying interest in ETERNA (+1.7%).
Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.2x (from 0.9x) as 15 stocks gained while 13 stocks lost. TRIPPLEG (+9.9%), REGALINS (+8.9%), and FTNCOCOA (+5.9%) led gainers while CWG (-9.5%), INTBREW (-5.7%) and CHAMPION (-3.2%) led decliners. In the next trading session, we envisaged extension of cautious trading ahead of H1 earnings releases.
Market Statistics for Monday, 12th July 2021
|Market Cap (N’bn)||19,724.5|
|Market Cap (US$’bn)||48.0|
|NSE All-Share Index||37,857.89|
|Daily Performance %||(0.4)|
|WTD Performance %||(0.4)|
|MTD Performance %||(0.1)|
|QTD Performance %||(0.1)|
|YTD Performance %||(6.0)|
|Daily Volume (Million)||187.2|
|Daily Value (N’bn)||2.9|
|Daily Value (US$’m)||7.0|