The domestic bourse started the week on a bullish note as the All Share Index advanced 0.1% to 37,651.89 points while YTD loss moderated to 1.5%. Accordingly, investors gained N8.1 billion as market capitalisation increased to N13.6 trillion. Today’s positive performance was on account of gains in DANGCEM (+0.9%). Ex-DANGCEM, market performance would have been down 27bps. However, activity level weakened as volume and value traded declined 11.5 per cent and 1.8 per cent respectively to 151.2 million units and N2.0 billion respectively. The top traded stocks by volume were ACCESS (21.7m), ZENITH (13.9m) and FBNH (12.7m) while ZENITH (N341.2m), GUARANTY (N237.5m) and ACCESS (N225.6m) were the top traded stocks by value.
Sector performance was bearish as 3 of 5 indices under our coverage declined. The Consumer Goods index led laggards, down 8.4 per cent due to sell pressures in DANGSUGAR (-2.7%) and NASCON (-5.3%). The Oil & Gas index followed, shedding 5.0% as investors exited positions in CONOIL (-1.8%) while the Industrial Goods index fell 1.6%, majorly due to sell-offs in WAPCO (-2.6%) and CCNN (-4.6%) which offset the impact of gains in DANGCEM (+0.9%). On the other hand, the Insurance and Banking indices gained 8.3% and 0.1% respectively, buoyed by buy interest in CUSTODIAN (+2.7%), EQUITYASSURE (+4.6%) and ETI (+2.0%)
Investor sentiment as measured by market breadth (advance/decline ratio) remained unchanged at 0.7x as 20 stocks advanced while 30 declined. The best performing stocks were CAVERTON (+10.0%), CILEASING (+9.8%) and FIRSTALUM (+7.9%) while UNITYBANK (-9.0%), MULTIVERSE (-8.3%) and DUNLOP (-6.9%) led laggards. In subsequent sessions, we expect bargain hunting particularly in fundamentally sound stocks to drive a positive performance in the market.
Market Statistics Monday, 9th July 2018
Market Cap (N’bn) 13,638.0
Market Cap (US$’bn) 44.5
NSE All-Share Index 37,651.89
Daily Performance % 0.1
Week Performance % (0.8)
YTD Performance % (1.5)
Daily Volume (Million) 151.2
Daily Value (N’bn) 2.0
Daily Value (US$’m) 6.5
