The local bourse closed negative today as the All Share Index (ASI) dipped 0.9% to 31,692.63 points while YTD loss worsened to -17.1 per cent and market capitalisation declined by N100.2 billion to N11.6 trillion. Market performance was dragged by losses in FBNH (-4.7%), DANGCEM (-3.4%) and ACCESS (-2.8%). Similarly, activity level fell as volume and value dipped 36.7 per cent and 49.8 per cent to 452.3 million units and N2.6 billion respectively. The top traded stocks by volume were MEDVIEWAIR (146.9m units), NEM (45.9m units) and TRANSCORP (37.5m units) while ZENITH (N646.2m), GUARANTY (N345.6m) and MEDVIEWAIR (293.9m) were the top traded stocks by value.
Performance across sectors was largely positive as 3 of 5 indices under our coverage closed higher. The Oil & Gas index gained the most, up 1.3 per cent due to gains in FORTE (+9.9%) and CONOIL (+10.0%). The Banking and Consumer Goods indices trailed, up 0.2 per cent and 4bps respectively following price appreciation in NIGERIAN BREWERIES (+0.5%), NASCON (+1.4%), DIAMOND (+9.7%), FCMB (+8.6%), GUARANTY (+0.3%). On the flipside, sell pressures in DANGCEM (-3.4%), NEM (-9.2%) and NIGERINS (-8.3%) dragged the Industrial (-2.1%) and Insurance (-0.7%) indices.
Investor sentiment weakened as market breadth (advance/decline ratio) declined to 1.9x against 7.2x in the prior session which was consequent on 30 stocks advancing against 16 decliners. The top performers were NPFMCRFBK (+10.0%), MBENEFIT (+10.0%) and CONOIL (+10.0%) while UACN (-10.0%), NEM (-9.2%) and NIGERINS (-8.3%) declined the most. We expect market performance over the last few days of the year to be slightly positive as portfolio managers re-balance portfolios.
Market Statistics Thursday, 27th December 2018
Market Cap (N’bn) 11,576.3
Market Cap (US$’bn) 37.8
NSE All-Share Index 31,692.63
Daily Performance % (0.9)
1 Week Performance % 2.9
YTD Performance % (17.1)
Daily Volume (Million) 452.3
Daily Value (N’bn) 8.5
Daily Value (US$’m) 17.0
