January 29, 2021/NSE

Another bottom left top right finish as the ASI ended the week, and month of January in green territory. The index kept a clean sheet all week, up +58bps on Friday, and +3.44% w/w. MTN +3.43% instrumental to Friday’s performance on sustained domestic demand, as the ticker recorded a new all-time high of N181.00. Equities ended the month +5.32% firmer. In USD terms (+7.10%), the NSE ranked 7th according to Bloomberg World Equities Index ranking.

Oil&Gas stocks finally halted the weeklong losing streak to finish higher, +0.63%. Ardova +8.57% and Oando +2.50% providing support. All other sectors were also finished in green, save for Industrials, with a marginal decline of -8bps.

Turnover this week stayed impressive, with a daily average of $14.53mn. On Friday, investors traded a total of $17.18mn. Zenith retained the top spot on the activity chat with $3.20mn traded. Other notable volumes were MTN $2.47mn; GTB $1.84mn and Wapco $1.56mn. Trading was skewed mostly towards domestic investors.

Oil&Gas: +0.63%… despite today’s rebound, the sector emerged biggest losers wee-on-week, giving up -7.25%. Nonetheless, today’s session witnessed rebound in Ardova N19.00 and Oando N3.28, both tickers adding +8.57% and +2.50%, respectively.

Bank: +0.52%…. a few setbacks during the week, but the sector emerged strongest week-on-week, up +3.33% amid earnings expectation. GTB rose +1.47% to close N34.50; ETI N6.50 bounced off intraday sell pressure to clinch a +1.56% rise. Stanbic pulled back however, -3.43% to end at N45.00

Consumers: +0.32%…. The sector finished the week with modest gains, up +1.28%. Demand in Dangsugar was strong, pushing the ticker higher +1.92% to N21.25. Poor earnings results pulled Guinness lower -1.04% to N19.00 and Cadbury also missed by -1.12% to close at N8.80.

See daily trade stats below: 

                                    * Please note that these were published as at market close and could be adjusted by the NSE.

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