22 stocks gained in price appreciation as 21 other declined at the Nigeria Stock Market trading in shares. The best performing stocks for the day according to the Nigerian Stock Exchange Daily Official listing were SOVRENINS (+10.0%), CHAMPION (+10.0%) and PRESCO (+9.7%) while UNITYBNK (-10.0%), UNIONDICON (-9.9%) and UPDCREIT (-9.9%) lost the most.
The local bourse sustained its bullish outing as price appreciation in DANGCEM (+6.7%), MTNN (+5.9%) and GUARANTY (+4.2%) shot the All-Share Index (ASI) 292bps higher to 29,395.57 points. As a result, YTD return advanced to 6.4% and market capitalisation rose by ₦1.4tn to ₦15.2tn. Activity level declined as volume and value traded fell 6.7% and 19.2% to 693.2m units and ₦7.4bn respectively. The top traded stocks by volume were UBA (156.0m units), ZENITH (86.1m units) and ACCESS (82.4m units) while ZENITH (₦1.9bn), UBA (₦1.1bn) and MTNN (₦1.3bn) were the top traded stocks by value.
Performance across sectors was mixed as 2 of 6 indices under our coverage gained. The Industrial Goods index led the pack with a 8.0% gain, following continued buy interest in DANGCEM (+6.7%) and WAPCO (+3.7%). The AFR-ICT trailed, up 3.3% due to a price appreciation in MTNN (+5.9%). Conversely, the Banking (-0.4%) and Consumer Goods (-0.2%) indices declined on the back of losses in ACCESS (-5.6%), UBA (-5.7%) and UBN (-3.2%) as well as UNILEVER (-3.1%) and FLOURMILL (-1.7%). Similarly, a price decline in OANDO (-0.5%) dragged the Oil & Gas indices 7bps lower. Lastly, the Insurance index closed flat. Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 1.1x from the 3.4x recorded the previous trading day as 22 stocks gained against 21 decliners.
Market Statistics for Wednesday, 9th January 2020
|Market Cap (N’bn)||15,164.3|
|Market Cap (US$’bn)||42.1|
|NSE All-Share Index||29,395.57|
|Daily Performance %||2.9|
|W/W Performance %||9.4|
|MTD Performance %||9.5|
|QTD Performance %||9.5|
|YTD Performance %||9.5|
|Daily Volume (Million)||693.2|
|Daily Value (N’bn)||7.4|
|Daily Value (US$’m)||20.7|