The local bourse halts its 4-days bullish run on the back of profit-taking activities in MTNN (-1.2%), UNILEVER (-1.1%), and GTCO (-0.3%) as the All-Share index fell by 12bps to 38,802.15 points. Consequently, YTD loss weakened to -3.6% while market capitalisation declined by ₦24.5bn to ₦20.2tn. Trading activity declined as average volume and value traded fell by 1.4% and 15.3% to 243.1m units and ₦1.9bn respectively. The most traded stocks by volume were ACCESS (21.8m units), WEMABANK (21.3m units), and UACN (14.4m units) while MTNN (₦220.4m), GTCO (₦213.5m), and ACCESS (₦204.4m) led by value.
Performance across sectors under our coverage was mixed as 3 indices gained, 2 indices lost, while the Industrial Goods index closed flat. Leading the gainers is the Oil & Gas index, up 2.0% amid buying interest in OANDO (+9.9%) and ARDOVA (+2.0%). In the same vein, the Banking and Consumer Goods indices rose by 0.2% and 0.1% respectively, due to gains in STANBIC (+0.7%), ZENITH (+0.6%), CHAMPION (+9.0%), and DANGSUGAR (+2.2%). On the flip side, the AFR-ICT and Insurance indices lost 0.7% and 3bps respectively, due to sell pressure on MTNN (-1.2%), SOVRENIN (-3.7%), and REGALINS (-2.2%).
Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.1x from 1.8x recorded in the last trading session as 20 stocks advanced while 19 stocks declined. OANDO (+9.9%), CHAMPION (+9.0%), and FTNCOCOA (+8.9%) led gainers while UPDCREDIT (-6.7%), UNITYBNK (-6.5%), and NPFMCRFBK (-5.3%) led decliners. In the next trading session, we expect performance to be a mix of profit-taking and strategic positioning, as investors re-price market fundamentals amid fresh CBN forex policy on BDC.
Market Statistics for Tuesday, 27th July 2021
|Market Cap (N’bn)||20,216.5|
|Market Cap (US$’bn)||49.2|
|NSE All-Share Index||38,802.15|
|Daily Performance %||(0.1)|
|WTD Performance %||0.3|
|MTD Performance %||2.4|
|QT Performance %||2.4|
|YTD Performance %||(3.6)|
|Daily Volume (Million)||243.1|
|Daily Value (N’bn)||1.9|
|Daily Value (US$’m)||4.6|