The local bourse sustained a downtrend as the All-Share Index declined 29bps to settle at 38,601.83 points due to sell-offs in MTNN (-2.4%), GUINNESS (-9.9%) and ZENITH (-0.5%). Consequently, YTD loss worsened to -4.1% and market capitalisation declined by ₦57.9bn to settle at ₦20.3tn. Trading activity improved as volume and value traded rose 7.6% and 113.3% respectively to 208.7m units and ₦2.9bn. The most traded stocks by volume were FIDELITY (38.6m units), GUARANTY (32.8m units), and FBNH (16.9m units) while GUARANTY (₦951.3m), DANGCEM (₦412.3m), and MTNN (₦360.6m) led by value.
Across sectors that we cover, performance was bearish as 4 indices closed lower. The Insurance and Banking indices gained 59bps and 3bps respectively due to price appreciation in MANSARD (+3.2%), NEM (+0.5%), STANBIC (+5.8%) and FBNH (+1.4%). Conversely, the AFR-ICT led losers with a 1.2% decline on the back of sell-offs in MTNN (-2.4%). The Consumer Goods and Oil & Gas indices also declined by 37bps and 20bps respectively due to price declines in GUNNESS (-9.9%) and OANDO (-2.6%). Price weakness in WAPCO (-0.5%) dragged the Industrial Goods index lower by 5bps.
Investor sentiment, as measured by market breadth (advance/decline ratio), remained at 0.8x, same as in the previous session as 15 stocks advanced against 18 decliners. JAPAULGO (+8.7%), NAHCO (+7.4%) and STERLING (+7.1%) were the top gainers while GUINNESS (-9.9%), TRIPPLEG (-9.7%), and NCR (-9.7%) were the top decliners. We are not optimistic of significant gains in the market this week as investor sentiment remains sub-par.
Market Statistics for Tuesday, 13th April 2021
| Market Cap (N’bn) | 20,202.1 |
| Market Cap (US$’bn) | 52.3 |
| NSE All-Share Index | 38,601.83 |
| Daily Performance % | (0.3) |
| WTD Performance % | (0.7) |
| MTD Performance % | (1.1) |
| QTD Performance % | (1.1) |
| YTD Performance % | (4.1) |
| Daily Volume (Million) | 208.7 |
| Daily Value (N’bn) | 2.9 |
| Daily Value (US$’m) | 7.5 |
