Today’s trading session ended positive as the All-Share Index gained 147bps to 21,384.03 points following gains in NESTLE (+8.5%), ZENITH (+5.7%) and UBA (+9.7%). Investors gained ₦162.0bn as market capitalisation rose to ₦11.1tn while YTD return moderated to -20.3%. Activity level dipped as volume and value traded declined 9.1% and 3.8% to 314.9m units and ₦5.0bn respectively. The most active stocks by volume were FBNH (56.0m units), UBA (37.8m units) and WAPCO (35.0m units) while DANGCEM (₦2.0bn), GUARANTY (₦596.0m) and NESTLE (₦454.1m) led the value chart.
Across sectors under our coverage, performance was bullish as the Industrial Goods index was the lone loser, down 0.6% due to price decline in BUACEMENT (-2.2%). Gains in NESTLE (+8.5%), DANGSUGA (+9.7%) and ZENITH (+5.7%) buoyed performance in the Consumer Goods (+5.0%) and Banking (+4.0%) indices. Similarly, the Oil & Gas and Insurance indices rose 1.4% and 0.3% respectively following buying interest in OANDO (+9.1%) and AIICO (+5.0%). Lastly, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 2.2x from the 3.6x recorded in yesterday’s session as 24 stocks gained relative to 11 losers. The top gainers were DANGSUGA (+9.7%), UBA (+9.7%) and CADBURY (+9.5%) while OMATEK (-8.8%), CHAMS (-8.7%) and UNITYBNK (-8.7%) led the losers. We are not overly optimistic about an elongated bullish run as the economy still reels from the disruptions caused by COVID-19 pandemic.
Market Statistics for Thursday, 9th April 2020
| Market Cap (N’bn) | 11,144.3 |
| Market Cap (US$’bn) | 31.0 |
| NSE All-Share Index | 21,384.03 |
| Daily Performance % | 1.5 |
| WTD Performance % | 1.4 |
| MTD Performance % | 0.4 |
| QTD Performance % | 0.4 |
| YTD Performance % | (20.3) |
| Daily Volume (Million) | 314.9 |
| Daily Value (N’bn) | 5.0 |
| Daily Value (US$’m) | 13.9 |
Source: Afrinvest
