The gains in bellwethers, DANGCEM (+2.9%), MTNN (+2.1%) and GUARANTY (+1.7%), pushed the All-Share Index up 1.0% to 29,352.13 points. Hence, YTD return improved to 9.4% while market capitalisation increased ₦149.4bn to ₦15.1tn. Activity level increased as volume and value traded rose 7.5% and 77.0% to 387.2m units and ₦5.0bn respectively. The most active stocks by volume were ACCESS (74.6m units), ZENITH (71.8m units) and WAPCO (40.7m units) while ZENITH (₦1.6bn), ACCESS (₦770.9m) and WAPCO (₦629.9m) led by value.
Sector performance was impressive as only 2 indices lost. The Industrial Goods and Insurance indices lost 1.5% and 1.2% respectively following sell-offs in BETAGLAS (-1.5%), CUTIX (-4.9%), MANSARD (-0.9%) and LASACO (-3.7%). Meanwhile, buying interest in GUARANTY (+1.7%), ZENITH (+2.1%) and MTNN (+2.1%) buoyed performance in Banking (2.2%) and AFR-ICT (1.2%) indices. Similarly, the Consumer Goods and Oil & Gas indices advanced 1.0% and 0.2% respectively following gains in UNILEVER (+4.4%), DANGSUGAR (+1.0%) and OANDO (+2.7%).
Investor sentiment as measured by market breadth (advance/decline ratio) rose to 1.4x from the 0.6x recorded yesterday as 23 stocks advanced relative to 16 decliners. The top gainers were LIVESTOCK (+10.0%), FORTE (+8.4%) and WAPCO (+6.3%) while BOCGAS (-10.0%), CAVERTON (-10.0%) and CORNERSTONE (-6.9%) were the top losers. We anticipate positive performance in the market as investors position for gains.
ACCESS has obtained a “No objection” from the Apex Bank for its proposed expansion into the Republic of Cameroon through setting up a banking subsidiary. Although, the bank still awaits regulatory approvals from Authorities in the Republic of Cameroon.
Market Statistics for Thursday, 16th January 2020
| Market Cap (N’bn) | 15,141.9 |
| Market Cap (US$’bn) | 42.1 |
| NSE All-Share Index | 29,352.13 |
| Daily Performance % | 1.0 |
| WTD Performance % | (0.2) |
| MTD Performance % | 9.4 |
| QTD Performance % | 9.4 |
| YTD Performance % | 9.4 |
| Daily Volume (Million) | 387.2 |
| Daily Value (N’bn) | 5.0 |
| Daily Value (US$’m) | 13.9 |
Source: Afrinvest
