Equity trading activities on Lagos Customs street today closed positively, as investors cherry-pick on SEPLAT (+1.5%), MTNN (+1.2%), and ZENITH (+0.1%). As a result, the All-Share Index rose 15bps to 38,564.70 points, YTD loss improved to -4.2% while market capitalisation rose by ₦29.9bn to ₦20.1tn. Trading activity was mixed as volume traded rose 1.8% to 302.7m units, while value traded fell by 23.2% to settle at ₦2.8bn. The most traded stocks by volume were STERLING (37.5m units), ETI (27.4m units), and WEMABANK (27.1m units) while GUARANTY (₦745.3m), SEPLAT (₦506.8m), and ZENITH (₦228.6m) led by value.
Across sectors under our coverage, performance was mixed as 3 indices gained, while the other 3 lost. The Oil & Gas index led gainers, up 0.9% amid buy interest in SEPLAT (+1.5%). Likewise, the AFR-ICT and Consumer Goods indices rose by 0.7% and 0.2% respectively following price appreciation in MTNN (+1.2%), DANGSUGAR (+0.3%), and UNILEVER (+1.9%). Conversely, the Insurance, Banking, and Industrial Goods indices declined by 0.5%, 0.3%, and 3bps respectively due to sell-offs on CHIPLC (-9.5%), GUARANTY (-1.6%), and WAPCO (-0.1%).
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.3x from 0.7x recorded in the last trading session as 27 stocks advanced while 21 stocks declined. CORNERST (+10.0%), MORISON (+9.7%), and LEARNAFRICA (+6.5%) led gainers while ABBEYBDS (-9.5%), CHIPLC (-9.5%), and CWG (-7.3%) led decliners. We expect market sentiment to be a mix of bargain hunting and profit-taking in tomorrow’s trading session.
Market Statistics for Wednesday, 16th June 2021
| Market Cap (N’bn) | 20,099.3 |
| Market Cap (US$’bn) | 48.9 |
| NSE All-Share Index | 38,564.70 |
| Daily Performance % | 0.1 |
| WTD Performance % | (1.5) |
| MTD Performance % | 0.3 |
| QTD Performance % | (1.2) |
| YTD Performance % | (4.2) |
| Daily Volume (Million) | 302.7 |
| Daily Value (N’bn) | 2.8 |
| Daily Value (US$’m) | 6.8 |
