Today, the local bourse extended its bearish performance on the back of sell pressure in ZENITH (-1.6%), VITAFOAM (-1.6%), and ACCESS (-1.1%) as the All-Share index fell by 3bps to 38,791.03 points. Consequently, YTD loss weakened to 3.7% while market capitalisation declined by ₦5.8bn to ₦20.2tn. Trading activity declined as average volume and value traded fell by 2.3% and 0.9% to 237.5m units and ₦1.9bn respectively. The most traded stocks by volume were OANDO (44.3m units), UBA (19.3m units), and WEMABANK (14.2m units) while ZENITH (₦270.8m), MTNN (₦264.3m), and OANDO (₦233.0m) led by value.
Performance across sectors under our coverage was mixed as 3 indices gained, 2 indices lost, while the Industrial Goods index remained flat. Leading the gainers is the Oil & Gas index, up 1.7% on the back of buying interest in OANDO (+9.8%) and ARDOVA (+1.1%). In the same vein, the AFR-ICT and Consumer Goods indices rose by 0.1% apiece, due to gains in MTNN (+0.3%), HONYFLOUR (+1.8%), and DANGSUGAR (+1.4%). On the flip side, the Banking and Insurance indices lost 1.0% and 0.9% respectively, due to sell pressure on ZENITH (-1.6%), ACCESS (-1.1%), CHIPLC (-10.0%), and AIICO (-0.9%).
Investors sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.8x from 1.1x recorded in the last trading session as 18 stocks advanced while 23 stocks declined. CAPHOTEL (+9.8%), OANDO (+9.8%), and BOCGAS (+8.9%) led gainers while CHIPLC (-10.0%), TRIPPLEG (-10.0%), and PHARMDEKO (-9.9%) led decliners. In the next trading session, we expect sell pressure to persist as investors adjust their holdings in light of the CBN’s halt of FX supply to BDC.
Market Statistics for Wednesday, 28th July 2021
|Market Cap (N’bn)||20,210.7|
|Market Cap (US$’bn)||49.2|
|NSE All-Share Index||38,791.03|
|Daily Performance %||0.0|
|WTD Performance %||0.3|
|MTD Performance %||2.3|
|QT Performance %||2.3|
|YTD Performance %||(3.7)|
|Daily Volume (Million)||237.5|
|Daily Value (N’bn)||1.9|
|Daily Value (US$’m)||4.6|