The benchmark index sustained previous session loss, declining 1.3% to close at 38,781.48 points following losses in DANGCEM (-7.3%), INTBREW (-8.8%), and GUARANTY (-0.5%). Consequently, YTD loss worsened to -3.7% while market capitalisation fell ₦274.2bn to ₦20.3tn. Trading activity improved as volume and value traded rose 2.8% and 7.7% to 259.5m units and ₦1.9bn respectively. The most traded stocks by volume were FBNH (69.5m units), TRANSCORP (36.7m units) and ZENITH (16.6m units) while FBNH (₦514.3m), ZENITH (₦366.4m) and NESTLE (₦170.1m) led by value.
Across sectors under our coverage, performance was negative as 4 indicators lost, the AFR-ICT index closed flat and the Oil & Gas index gained 2.0% following buying interest in SEPLAT (+3.6%). The Insurance index led the laggards, down 1.6% due to profit taking in AIICO (-4.7%) and CUSTODIAN (-3.3%). Also, the Banking and Consumer Goods indices declined 0.2% and 0.1% respectively on the back of sell-offs in GUARANTY (-0.5%), ACCESS (-1.3%), INTBREW (-8.8%), and GUINNESS (-5.8%). In the same regard, the Industrial Goods index declined 3bps due to price depreciation in DANGCEM (-7.3%).
Investor sentiment, as measured by market breadth (advance/decline ratio), further weakened to 0.9x from the 1.4x recorded in the previous session as 19 stocks advanced while 22 declined. CHIPLC (+10.0%), PORTPAINT (+8.3%) and ROYALEX (+7.1%) were the top gainers while FTNCOCOA (-10.0%), NEIMETH (-8.9%) and INTBREW (-8.8%) were the top decliners. In the next trading session, we expect the market to halt successive downtrends.
Market Statistics for Wednesday, 28th April 2021
| Market Cap (N’bn) | 20,296.1 |
| Market Cap (US$’bn) | 52.6 |
| NSE All-Share Index | 38,781.48 |
| Daily Performance % | (1.3) |
| WTD Performance % | (1.3) |
| MTD Performance % | (0.7) |
| QTD Performance % | (0.7) |
| YTD Performance % | (3.7) |
| Daily Volume (Million) | 259.5 |
| Daily Value (N’bn) | 1.9 |
| Daily Value (US$’m) | 4.9 |
Source: Afrinvest
