In today’s trading session, the local bourse gained 3bps to settle at 32,152.90 points due to investors’ buying interest in STANBIC (+2.1%), ZENITH (+1.0%) and WAPCO (+8.7%). As a result, market capitalisation advanced by N3.5bn to N11.7tn as YTD loss steadied at -15.9%. Activity level also strengthened as value and volume traded advanced by 44.3% and 182.0% to N2.2bn and 399.8m units respectively. IKEJAHOTEL (N572.2m), NESTLE (N450.9m) and GUARANTY (N209.8m) led the top traded stocks by value while the top traded stocks by volume were IKEJAHOTEL (279.1m), FBNH (19.5m) and DIAMONDBNK (15.7m).
Performance across sectors was bearish as 3 out of 5 indices under our coverage declined. The Insurance index depreciated the most, down 2.2% on the back of sell-offs in MANSARD (-8.9%) and REGALINS (-9.1%). Similarly, the Consumer Goods and Oil & Gas indices declined 0.3% apiece due to losses in NESTLE (-0.7%), DANGSUGAR (-2.7%) and FORTE (-6.2%). However, the Industrial and Banking indices advanced 1.9% and 0.5% respectively following gains in WAPCO (+8.7%), STANBIC (+2.1%), ZENITH (+1.0%) and UBA (+1.3%).
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from 1.2x yesterday, as 16 stocks advanced against 25 stocks that declined. UNITY (+9.9%), GLAXOSMITH (+9.6%) and MEYER (+9.1%) were today’s best performing stocks while LASACO (-10.0%), CILEASIN (-10.0%) and JBERGER (-9.9%) led the laggards. Despite today’s positive performance, we retain our bearish market outlook over the near term as we do not see any potential drivers over the horizon.
Market Statistics Tuesday, 13th November 2018
Market Cap (N’bn) 11,738.3
Market Cap (US$’bn) 38.3
NSE All-Share Index 32,152.90
Daily Performance % 0.0
Week Performance % (0.0)
YTD Performance % (15.9)
Daily Volume (Million) 399.8
Daily Value (N’bn) 2.2
Daily Value (US$’m) 7.3
