In today’s trading session, the local bourse advanced by 44bps on account of buy interests in market bluechips – NIGERIAN BREWERIES (+5.0%), DANGCEM (+0.3%) and NESTLE (+0.7%). Consequently, market capitalisation rose by N51.6 billion to N11.9 trillion while YTD loss improved to –14.9 per cent. However, activity level was mixed as volume traded shed 8.2 per cent to 349.3 million units while value traded rose 57.3 per cent to N3.7 billion. The top traded stocks by volume were FCMB (180.3m units), ZENITH (24.5m units) and GUARANTY (23.8m units) while DANGCEM (N939.6m), GUARANTY (N869.9bn) and ZENITH (N589.0bn) were the top traded stocks by value.
Performance across sectors was largely bullish as 3 of 5 indices under our coverage trended northwards. The Consumer Goods index advanced the most, up 1.6%, following bargain hunting in NIGERIAN BREWERIES (+5.0%), NESTLE (+0.7%) and UNILEVER (+1.1%) while the Oil & Gas and Insurance indices trailed, appreciating by 0.7 per cent and 0.2 per cent respectively as a result of gains in TOTAL (+8.2%), LASACO (+7.1%) and LAWUNION (+3.4%). On the flip side, the Industrial Goods and Banking indices fell by 0.7 per cent and 0.3 per cent respectively on the back of sell-offs in WAPCO (-0.5%), ZENITH (-0.8%) and UBN (-2.0%).
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 1.0x from 1.1x recorded yesterday as 19 stocks appreciated against 19 decliners. JAIZBNK (+10.0%), ROYALEX (+10.0%) and TOTAL (+8.2%) were the best performing stocks while the worst performing stocks were BETAGLAS (-10.0%%), AGLEVENT (-10.0%) and CUTIX (-9.8%). In line with our expectation, the market rebounded today, we however maintain a bearish stance in the near term.
Market Statistics Thursday, 25th October 2018
Market Cap (N’bn) 11881.5
Market Cap (US$’bn) 38.8
NSE All-Share Index 32,545.06
Daily Performance % 0.4
Week Performance % (0.4)
YTD Performance % (14.9)
Daily Volume (Million) 349.3
Daily Value (N’bn) 3.7
Daily Value (US$’m) 12.0
