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Nigeria Daily Market Report |The BearsResurface... ASI down 31bps
(Source: Afrinvest Research , Date: 25-Feb-2021)

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Dear Afrinvestor, 

Market Statistics for Thursday, 25th February 2021 

Market Cap (N'bn)

20,978.2

Market Cap (US$'bn)

54.3

NSE All-Share Index

40,095.49

Daily Performance %

(0.3)

WTD Performance %

(0.2)

MTD Performance %

(5.5)

QTD Performance %

(0.4)

YTD Performance %

(0.4)

Daily Volume (Million)

326.0

Daily Value (N'bn)

3.7

Daily Value (US$'m)

9.6


The Bears Resurface... ASI down 31bps 
The equities market ended in the negative territory following sell-offs in NIGERIAN BREWERIES (-3.7%), ACCESS (-4.7%) and ZENITH (-1.7%). As a result, the benchmark index lost 31bps to 40,095.49 points, YTD return worsened to -0.4% and market capitalisation fell ₦65.8bn to ₦21.0tn. Trading activity declined as volume and value dipped 30.6% and 47.6% to 326.0m units and ₦3.7bn respectively. The most traded stocks by volume were TRANSCORP (48.4m units), DANGSUGAR (33.9m units) and UBA (27.5m units) while ZENITH (₦637.6m), DANGSUGAR (₦611.8m) and GUARANTY (₦478.8m) led by value.

Mixed Sector Performance 
Performance across sectors was mixed as 3 of the 6 indices under our coverage closed southward. The Banking index led laggards, down 1.4% due to price decline in ACCESS (-4.7%) and ZENITH (-1.7%). Also, the Consumer Goods and Oil & Gas indices closed lower at 0.8% and 0.2% respectively following sell pressures in NIGERIAN BREWERIES (-3.7%), DANGSUGAR (-0.6%) and OANDO (-1.8%). Conversely, the Insurance index rose 0.2% following buying interest in WAPIC (+3.7%) and MANSARD (+0.9%). Lastly, the Industrial Goods and AFR-ICT indices closed flat. 

Investor Sentiment Wanes
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from the 1.0x recorded previously as 14 stocks advanced against 23 decliners. CHAMS (+9.1%), ROYALEX (+8.0%) and WEMABANK (+7.7%) were the top gainers while LASACO (-9.7%), FIDSON (-8.4%) and ETI (-6.3%) were the top losers. We expect the market to close in the red for the week.  

 

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Best Regards,

 

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