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To end the week, the local bourse close flat as the All-share Index fell slightly by 0.06% to 40,186.70 points following fifteen sessions of losses over the past 3 weeks. Year to date return and market capitalisation settled at -0.21% and N21.02 trillion, respectively. Investor sentiment as measured by the market breath was negative today, weaker at 0.71x on 15 advancers and 21 decliners.

 

Today’s market performance was mostly driven by a significant dip in bellwether STANBIC by -10.00%. WAPCO & SEPLAT also fell by -2.15% and -3.46% respectively.

 



 

A total volume of 307.7 million units of shares, valued at N2.90billion exchanged hands in 4,393 deals.  The most traded stocks by volume were FBNH (85.57 million units), UCAP (53.32 million units) and UBA (23.34 million units), while FBNH (N624 million), ZENITHBANK (N431.95 million) and GUARANTY (N348.55 million) topped the value chart.

 

Across coverage sectors, performance was mostly negative as all tracked indices closed negative for the day save for the NSE banking and consumer goods sector which gained 1.95 and +0.08%; The NSE insurance, oil & gas and industrial indexes fell by 1.83%, 1.82%, and 0.15%, respectively. 

 

Sector performance

NSE Insurance Index: Down by 1.83%, on price decline in MBENEFIT (-6.98%) and AIICO (-6.50%)

NSE Oil & Gas Index: Fell by 1.82% as SEPLAT closed south by (-3.46%).

NSE Industrial Index: lost 2.15% on WAPCO (-2.15%)

NSE Banking Index:  Up 1.95% on tier-one buy interest in FIDELITY (5.53%), UBA (3.75%), ACCESS (3.70%) and ZENITH (2.49%).

NSE Consumer Goods Index: Improved marginally by 0.08% as FLOURMILL (2.10%) and GUINNESS (0.23%) closed north.

We expect to see renewed investor interest on the local bourse following the unexpected 0.11% growth 4Q2020 growth in Nigeria GDP.

 

MorganCapital Research

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