The All-Share Index (ASI) closed higher today by 109bps to close at 24,202.87 points following buying interest in DANGCEM (+2.8%), GUARANTY (+2.4%) and ZENITH (+2.3%). Consequently, investors gained ₦100.4bn as market capitalisation increased to ₦12.6tn while YTD loss settled at -9.8%. Activity level advanced as volume and value traded rose 2.7% and 33.9% to 339.8m units and ₦3.9bn respectively. The most active stocks by volume were ACCESS (80.6m units) GUARANTY (41.9m units), and ZENITH (39.7m units) while GUARANTY (₦972.0m), ZENITH (₦628.9m) and DANGCEM (₦579.6m) led the value chart.
Performance across sectors under our coverage was bullish as 4 of 6 indices gained. The Consumer Goods index was the lone loser, down 1.7% due to sell pressure in INTBREW (-3.0%). Meanwhile, gains in GUARANTY (+1.1%), ZENITH (+2.3%) and DANGCEM (+2.8%) pushed the Banking and Industrial Goods indices higher by 2.1% and 0.8% respectively. Similarly, the Insurance and Oil & Gas indices rose 0.4% and 0.2% respectively due to price appreciation in AIICO (+5.6%), CORNERSTONE (+1.8%) and OANDO (+2.2%). Finally, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) advanced to 3.6x from the 1.9x recorded in the previous session as 29 stocks gained relative to 8 losers. The top gainers were CAVERTON (+10.0%), OKOMUOIL (+10.0%) and UNILEVER (+9.9%) while LASACO (-8.0%), NAHCO (-4.5%) and WAPIC (-3.3%) were top decliners. We expect to see gains in the next trading session as investors continue to seek bargain hunting opportunities.
Market Statistics for Tuesday, 19th May 2020
|Market Cap (N’bn)||12,613.4|
|Market Cap (US$’bn)||35.0|
|NSE All-Share Index||24,202.87|
|Daily Performance %||1.1|
|WTD Performance %||1.4|
|MTD Performance %||5.1|
|QTD Performance %||13.6|
|YTD Performance %||(9.8)|
|Daily Volume (Million)||339.8|
|Daily Value (N’bn)||3.9|
|Daily Value (US$’m)||10.9|