The stock market recorded a positive performance as gains in SEPLAT and AIRTELAFRI drove the benchmark index up 104bps to settle at 24,141.48 points. Consequently, investors gained ₦134.5 billion as market capitalisation advanced to ₦13.1 trillion while YTD loss moderated to -8.5%. Activity level was mixed as volume traded fell 0.8% to 204.9m units while value traded rose 54.8% to ₦3.8bn. The top traded stocks by volume were GUARANTY (66.3m units), ACCESS (24.0m units) and ZENITH (15.2m units) while GUARANTY (₦1.6bn), OKOMUOIL (₦418.6m) and AIRTELAFRI (₦321.0m) led by value.
Performance across sectors was bullish as 4 of 6 indices under our coverage gained. The Oil & Gas and AFR-ICT indices were the best performers, up 5.2% and 4.2% due to buying interest in SEPLAT (+10.0%) and AIRTELAFRI (+9.8%). The Insurance and Consumer Goods indices trailed, gaining 0.6% and 0.2% respectively owing to upticks in AIICO (+0.1%) and GUINNESS (+6.2%). Conversely, losses in ACCESS (-0.2%), ZENITH (-0.1%) and BUACEMENT (-0.3%) saw the Banking and Industrial Goods indices dragged by 0.4% and 0.3% respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) expanded to 1.6x from the 0.9x recorded previously as 18 stocks gained against the 11 decliners. The top gainers were SEPLAT (+10.0%), CADBURY (+9.9%) and AIRTELAFRI (+9.2%) while CHAMPION (-9.3%), CHIPLC (-8.1%) and MBENEFIT (-4.8%) lost the most. We expect bargain hunting to drive gains in the next trading session.
Market Statistics for Wednesday, 12th August 2020
| Market Cap (N’bn) | 13,115.30 |
| Market Cap (US$’bn) | 34.0 |
| NSE All-Share Index | 25,141.48 |
| Daily Performance % | 1.0 |
| WTD Performance % | 0.4 |
| MTD Performance % | 1.8 |
| QTD Performance % | 2.7 |
| YTD Performance % | (6.3) |
| Daily Volume (Million) | 204.4 |
| Daily Value (N’bn) | 3.8 |
| Daily Value (US$’m) | 9.9 |
