The domestic equities market began the week in red, driven by profit-taking in BUACEMENT (-2.9%), GTCO (-0.5%), and ZENITH (-0.2%), as the All-Share Index declined 25bps to 38,864.33 points. Accordingly, YTD loss worsened to -3.5% while market capitalisation decreased by ₦51.0bn to ₦20.2tn. Trading activity weakened as volume and value traded fell 78.0% and 73.4% respectively to 139.5m units and ₦1.7bn. The most traded stocks by volume were SOVRENINS (19.1m units), FIDELITY (11.9m units), and GTCO (11.1m units) while MTNN (₦465.1m), GTCO (₦307.1m), and TOTAL (₦116.9m) led by value.
Performance across the sectors under our coverage was mixed as 3 indices advanced, 2 declined, while the AFR-ICT index remained unchanged. The Oil & Gas index led gainers, up 1.2% as a result of buying interest in OANDO (+6.1%). Trailing, the Banking and Consumer Goods indices rose 40bps and 24bps respectively due to price appreciation in ACCESS (+2.8%), UBN (+1.0%), DANGSUGAR (+1.2%), and FLOURMILL (+0.9%). On the other hand, the Insurance and Industrial Goods indices recorded losses, down 2.3% and 1.1.% respectively on the back of profit-taking in MANSARD (-9.9%), SOVRENINS (-4.0%), and BUACEMENT (-2.9%).
Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 1.6x from 2.2x as 19 stocks advanced while 12 stocks declined. UPL (+9.8%), TRANSCOHOT (+9.7%), and COURTVILLE (+9.4%) led the gainers while MANSARD (-9.9%), CHAMS (-4.3%), and SOVRENINS (-4.0%) led the laggards. We expect bearish sentiment to dominate the next trading session due to the absence of any positive catalyst. Guinness Nigeria PLC (“GUINNESS”) declared a final dividend of 46 kobo for each 50 kobo ordinary share. The register of shareholders will be closed from 29th September to 4th October 2021 while the qualification and payment date is scheduled for 28th September and 20th October 2021 respectively.
Market Statistics for Monday, 27th September 2021
|Market Cap (N’bn)||20,248.6|
|Market Cap (US$’bn)||49.3|
|NSE All-Share Index||38,864.33|
|Daily Performance %||(0.3)|
|WTD Performance %||(0.3)|
|MTD Performance %||(0.9)|
|QTD Performance %||2.5|
|YTD Performance %||(3.5)|
|Daily Volume (Million)||139.4|
|Daily Value (N’bn)||1.7|
|Daily Value (US$’m)||4.2|