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 |
Source: Afrinvest