Today, the local bourse reversed yesterday’s losses on the back of buying interests in DANGCEM (+2.3%), OKOMUOIL (+10.0%) and DANGSUGAR (+2.9%) as the All-Share index increased by 0.5% to 38,881.70 points. Consequently, YTD loss improved to -3.4% while market capitalisation rose by ₦101.8bn to ₦20.3tn. Trading activity strengthened as volume and value traded rose by 3.7% and 6.0% to 218.5m units and ₦1.6bn respectively. The most traded stocks by volume were COURTVILLE (35.8m units), FIDELITY (26.6m units), and ZENITH (15.3m units) while ZENITH (₦349.3m), GUARANTY (₦291.3m), and DANGCEM (₦107.8m) led by value.
Across sectors under our coverage, performance was mixed as 3 indices lost while 3 indices gained. The Insurance index led the laggards, down 1.0% due to sell pressure on MANSARD (-2.3%) and REGALINS (-8.2%). Similarly, the Banking and AFR-ICT indices lost 5bps and 1bp respectively due to price depreciation in ACCESS (-0.6%), FBNH (-0.7%), and CWG (-9.4%). Conversely, the Industrial Goods index led the gainers, up 1.1% following price appreciation in DANGCEM (+2.3%). Similarly, the Consumer Goods and Oil & Gas indices rose by 0.6% and 0.1% respectively on the back of buying interests in FLOURMILL (+2.5%), UNILEVER (+3.9%), ETERNA (+2.6%), and OANDO (+0.3%).
Investor sentiment as measured by market breadth (advance/decline ratio), strengthened to 0.9x from 0.5x in the last trading session as 15 stocks advanced while 17 stocks declined. OKOMUOIL (+10.0%), LEARNAFRICA (+9.0%) and CHAMPION (+4.7%) led gainers while CWG (-9.4%), REGALINS (-8.2%), and VERITASKAP (-7.7%) led decliners. In the coming trading session, we anticipate the domestic bourse would extend its positive performance driven by bargain hunting.
Market Statistics for Tuesday, 8th June 2021
|Market Cap (N’bn)||20,266.1|
|Market Cap (US$’bn)||49.3|
|NSE All-Share Index||38,881.7|
|Daily Performance %||0.5|
|WTD Performance %||0.4|
|MTD Performance %||1.2|
|QTD Performance %||(0.4)|
|YTD Performance %||(3.4)|
|Daily Volume (Million)||218.5|
|Daily Value (N’bn)||1.6|
|Daily Value (US$’m)||3.9|