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
