The benchmark index appreciated 17bps to close at 24,972.82 points as investors cherry-picked bellwethers including NESTLE (+10.0%), ACCESS (+1.5%) and FLOURMILL (+4.4%). As a result, market capitalisation increased by ₦21.9bn to settle at ₦13.0tn while YTD loss eased to -7.0%. Activity level improved as volume and value traded rose 32.7% and 70.8% respectively to 266.0m units and ₦2.7bn. The most active stocks by volume were GUARANTY (43.7m units), UACN (41.2m units) and FCMB (22.5m units) while GUARANTY (₦1.0bn), UACN (₦288.7m) and NESTLE (₦236.5m) led the value chart.
Performance across sectors remained unimpressive as only the Consumer Goods index (+4.2%) appreciated as a result of gains in NESTLE (+10.0%) and FLOURMILL (+4.4%). The Oil & Gas (-4.4%) and Insurance (-3.0%) indices led the laggards due to losses in SEPLAT (-9.4%), MANSARD (-9.0%), AIICO (-8.2%). The Banking index (-0.8%) also lost, following price declines in GUARANTY (-2.5%) and UBA (-0.8%). Both the AFR-ICT and the Industrial Goods indices closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.4x from the 0.5x recorded in the previous session as 8 stocks advanced against 21 decliners. The best performing stocks were NESTLE (+10.0%), CADBURY (+7.4%) and FLOURMILL (+6.9%) while NEIMETH (-9.9%), NPRMCRFBK (-9.5%) and MANSARD (-9.4%) lost the most. We are not optimistic of a rebound in market activities this week as investor sentiment remains weak.
Market Statistics for Wednesday, 17th June 2020
| Market Cap (N’bn) | 13,027.3 |
| Market Cap (US$’bn) | 36.2 |
| NSE All-Share Index | 24,972.82 |
| Daily Performance % | 0.2 |
| WTD Performance % | (0.8) |
| MTD Performance % | (1.2) |
| QTD Performance % | 17.2 |
| YTD Performance % | (7.0) |
| Daily Volume (Million) | 266.0 |
| Daily Value (N’bn) | 2.7 |
| Daily Value (US$’m) | 7.5 |
Source: Afrinvest
