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Nigeria Daily Market Report | Local Bourse Records First Gain of the Week... ASI up 3bps
(Source: Afrinvest Research , Date: 23-Feb-2021)
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Dear Afrinvestor, 

Market Statistics for Tuesday, 23rd February 2021 
Market Cap (N'bn) 21,014.5
Market Cap (US$'bn) 54.4
NSE All-Share Index 40,164.86
Daily Performance % 0.0
WTD Performance % (0.1)
MTD Performance % (5.3)
QTD Performance % (0.3)
YTD Performance % (0.3)
Daily Volume (Million) 338.0
Daily Value (N'bn) 3.8
Daily Value (US$'m) 10.0


Local Bourse Records First Gain of the Week... ASI up 3bps 
Trading in the equities market closed in the green following buying interest in ZENITH (+4.8%), FLOURMILL (+6.2%) and GUARANTY (+0.8%). Consequently, the benchmark index gained 3bps to 40,164.86 points, YTD loss remained at -0.3% and market capitalisation rose ₦5.6bn to ₦21.0tn. Trading activity improved as volume and value advanced 16.8% and 7.6% to 338.0m units and ₦3.8bn respectively. The most traded stocks by volume were FBNH (64.6m units), ZENITH (52.7m units) and TRANSCORP (42.0m units) while ZENITH (₦1.3bn), GUARANTY (₦508.0m) and FBNH (₦471.8m) led by value.

Mixed Sector Performance 
Across sectors under our coverage, performance  was mixed. The Banking index was the lone gainer, up 1.7% due to strong demand for ZENITH (+4.8%), GUARANTY (+0.8%) and UBA (+1.2%). Conversely, the Consumer Goods and Insurance indices declined 1.6% and 0.9% respectively following price declines in NIGERIAN BREWERIES (-8.5%), DANGSUGAR (-2.7%), MANSARD (-3.4%) and CORNERST (-7.3%). Lastly, the AFR-ICT,  Industrial Goods and Oil & Gas indices closed flat.

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) waned to 0.7x from the 0.8x recorded previously as 16 stocks advanced against 23 losers. LIVESTOCK (+7.1%), AIICO (+7.1%) and FLOURMILL (+6.2%) were the top gainers while SUNUASSUR (-9.9%), LASACO (-9.9%) and AFRIPRUD (-9.8%) were the top losers. We expect corporate earnings release to guide the direction of the market this week.

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