Gains in MTNN (+0.8%), NIGERIAN BREWERIES (+5.9%) and STANBIC (+2.4%) drove the benchmark index up 38bps to settle at 25,236.97 points. Consequently, investors gained ₦49.9bn as market capitalisation advanced to ₦13.2tn while YTD loss moderated to -6.0%. Activity level was mixed as volume traded advanced 26.2% to 258.1m units while value traded declined 56.2% to ₦1.7bn. The top traded stocks by volume were TRANSCORP (105.5m units), ZENITH (25.7m units) and CHAMS (22.9m units) while ZENITH (₦430.0m), GUARANTY (₦311.0m) and MTNN (₦152.2m) led by value.
Performance across sectors was bullish as all indices under our coverage gained save the Industrial Goods index that declined 12bps due to sell-offs in BUACEMENT (-0.3%) and WAPCO (-0.4%). The Insurance and Consumer Goods indices were the best performers, up 2.6% and 1.5% respectively due to buying interest in MANSARD (+9.7%), PRESTIGE (+8.2%), NIGERIAN BREWERIES (+5.9%) and UNILEVER (+8.3%). The AFR-ICT and Oil & Gas indices trailed, gaining 0.4% and 0.3% respectively owing to upticks in MTNN (+0.8%) and OANDO (+3.3%). Lastly, gains in FIDELITY (+3.3%) and ACCESS (+1.6%) saw the Banking index close higher by 3bps.
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.8x from the 1.6x recorded previously as 15 stocks gained against the 18 decliners. The top gainers were MANSARD (+9.7%), CHIPLC (+8.8%) and UNILEVER (+8.3%) while IKEJA HOTEL (-9.9%), ACADEMY (-9.1%) and CHAMPION (-9.0%) lost the most. We expect the market to close on a slightly bullish note for the week.
Market Statistics for Thursday, 13th August 2020
| Market Cap (N’bn) | 13,165.30 |
| Market Cap (US$’bn) | 34.1 |
| NSE All-Share Index | 25,236.97 |
| Daily Performance % | 0.4 |
| WTD Performance % | 0.8 |
| MTD Performance % | 2.2 |
| QTD Performance % | 3.1 |
| YTD Performance % | (6.0) |
| Daily Volume (Million) | 258.1 |
| Daily Value (N’bn) | 1.7 |
| Daily Value (US$’m) | 4.3 |
Source: Afrinvest
