At the end of trade today, the equities market recorded a moderate loss of 1bp to close at 24,276.56 due to sell-offs in INTBREW (-8.9%), FBNH (-0.9%) and ACCESS (-0.8%). This resulted in a total loss of ₦786.7m for investors as market capitalisation settled lower at ₦12.7tn with YTD loss closed at -9.6%. Activity level weakened as volume and value traded dived 17.4% and 47.4% to 192.1m units and ₦2.5bn respectively. FIDELITY (38.1m units), GUARANTY (23.6m units) and ZENITH (23.1m units) were the top traded by volume while GUARANTY (₦534.5m), ZENITH (₦384.5m) and MTNN (₦374.5m) led by value.
Across the 6 indices that we track, 3 advanced, 2 lost while the AFR-ICT remained unchanged. The Insurance and Banking indices were the best performers as both gained 0.6% each following price appreciation in AIICO (+3.3%), GUARANTY (+1.1%) and ZENITH (+0.6%). Meanwhile, gain in BUACEMENT (+0.1%) pushed the Industrial Goods index higher by 0.2%. Conversely, the Consumer Goods and Oil & Gas indices lost 0.6% and 0.4% respectively due to sell-pressures in INTBREW (-8.9%), DANGSUGAR (-0.9%) and CONOIL (-10.0%).
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.7x from the 3.1x recorded in the previous session as 10 stocks advanced against the 15 decliners. The top gainers were LAWUNION (+7.0%), HONYFLOUR (+6.6%) and STERLNBA (+5.8%) while CONOIL (-10.0%), ARBICO (-9.5%) and VITAFOAM (-9.3%) were the top decliners. We expect the week to close bearish on the back profit taking in the next trading session.
Corporate action/disclosure
Conoil Plc declares a final dividend of ₦2.0 per 50 kobo ordinary share subject to appropriate withholding tax.
Market Statistics for Thursday, 9th July 2020
| Market Cap (N’bn) | 12,664.1 |
| Market Cap (US$’bn) | 32.7 |
| NSE All-Share Index | 24,276.56 |
| Daily Performance % | 0.0 |
| WTD Performance % | (0.2) |
| MTD Performance % | (0.8) |
| QTD Performance % | (0.8) |
| YTD Performance % | (9.6) |
| Daily Volume (Million) | 192.1 |
| Daily Value (N’bn) | 2.5 |
| Daily Value (US$’m) | 6.5 |
Source: Afrinvest
