Today, the local bourse resumed from the Sallah holidays to a positive performance as the benchmark index rose by 1.7% to 38,585.52 points, buoyed by buying interests in DANGCEM (+7.8%), FBNH (+3.5%), and ZENITH (+0.8%). Accordingly, YTD loss improved to -4.2% while market capitalisation rose by ₦329.7bn to ₦20.1tn. Trading activities was mixed as volume traded fell by 58.3% to 192.9m units while value traded rose by 41.3% to ₦1.7bn. The most traded stocks by volume were STERLNBANK (22.5m units), UCAP (16.9m units), and FIDELITY (14.1m units) while GTCO (₦392.1m), ZENITH (₦246.2m), and UCAP (₦115.1m) led by value.
Performance across sectors under our coverage was bullish as 4 indices gained, the Insurance index lost while the AFR-ICT index closed flat. The Industrial Goods and Oil & Gas indices led the gainers, up 4.0% and 3.1% respectively, on the back of buying interest in DANGCEM (+7.8%), TOTAL (+10.0%), and OANDO (+9.7%). Similarly, the Banking and Consumer Goods indices appreciated by 31bps and 7bps respectively, due to price appreciation in FBNH (+3.5%), ZENITH (+0.8%), DANGSUGAR (+0.3%), and UNILEVER (+0.8%). On the flip side, the 1.9% decline in the Insurance index was largely driven by sell-offs in AIICO (-8.7%) and MANSARD (-2.3%).
Investors sentiment, as measured by market breadth (advance/decline ratio), waned to 1.8x from 2.4x recorded in the last trading session as 21 stocks gained while 12 stocks lost. The top gainers were TOTAL (+10.0%), CUTIX (+9.8%), and OANDO (+9.7%) while AIICO (-8.7%), SOVRENINS (-6.5%) and VERITASKAP (-4.0%) led decliners. We expect the market to extend the positive performance to the last trading session of the week, driven by positive earnings release by companies.
Market Statistics for Thursday, 22nd July 2021
|Market Cap (N’bn)||20,103.6|
|Market Cap (US$’bn)||48.9|
|NSE All-Share Index||38,585.52|
|Daily Performance %||(1.7)|
|WTD Performance %||(1.7)|
|MTD Performance %||(1.8)|
|QTD Performance %||(1.8)|
|YTD Performance %||(4.2)|
|Daily Volume (Million)||192.9|
|Daily Value (N’bn)||1.7|
|Daily Value (US$’m)||4.1|
Data Source: Afrinvest