Home Stock Market Banking Stocks boost market performance… ASI up 13bps

Banking Stocks boost market performance… ASI up 13bps

by Business News Report

Today, the benchmark index appreciated 13bps to 21,757.47 points due to buying interest in banking stocks – GUARANTY (+5.3%), ACCESS (+9.8%) and UBN (+10.0%). Consequently, YTD return settled at -18.9% while market capitalisation increased ₦15.2bn to ₦11.3tn. Activity level waned as volume and value traded declined 26.1% and 15.7% to 172.2m units and ₦1.9bn respectively. The most active stocks by volume were ZENITH (40.6m units), UBA (15.9m units) and STERLING (13.2m units) while MTNN (₦594.8m), ZENITH (₦488.8m) and GUARANTY  (₦138.7m) led the value chart.  

Sector performance was mixed as 3 indices gained while 3 lost. The Banking and Insurance indices posted gains, up 6.0% and 1.9% respectively due to price appreciation in GUARANTY (+5.3%), ACCESS (+9.8%), NEM (+9.6%) and WAPIC (-8.3%). The AFR-ICT index also appreciated 0.2% due to buying interest in CHAMS (+9.5%). Conversely, the  Consumer Goods and Oil & Gas indices depreciated 4.6% and 0.2% respectively following losses in NESTLE (-10.0%), NIGERIAN BREWERIES (-0.7%) and OANDO (-2.3%). Lastly, the Industrial Goods index also declined 16bps due to a price decline in WAPCO (-2.1%).

Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 3.0x from the 2.7x recorded in the previous trading session as 24 stocks advanced relative to 8 decliners. The best performers were UCAP (+10.0%), UBN (+10.0%) and MORISON (+10.0%) while NESTLE (-10.0%), GLAXOSMITH (-7.9%) and JBERGER (-7.2%) led the laggards. Despite gains recorded in today’s session, low oil prices and the continuous spread of COVID-19 pose as major threats for investors in the domestic equities market.

Market Statistics for Thursday, 26th March 2020 

Market Cap (N’bn) 11,339.0
Market Cap (US$’bn) 31.5
NSE All-Share Index 21,757.47
Daily Performance % 0.1
WTD Performance % (2.0)
MTD Performance % (17.0)
QTD Performance % (18.9)
YTD Performance % (18.9)
Daily Volume (Million) 172.2
Daily Value (N’bn) 1.9
Daily Value (US$’m) 5.2


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