The equities market sustained its positive close today as the All Share Index inched 2.2% higher to 44,054.72 while YTD return improved to 15.2%. Consequently, Investors gained N335.2bn as market capitalisation settled at N15.8tn. Today’s positive performance was largely driven by sustained buying interest in market bellwethers- DANGCEM (+2.0%), ZENITH (+4.7%) and FBNH (+10.2%). However, activity level was mixed as volume traded fell 13.0% to 635.4m units while value traded advanced 21.2% to N7.6bn.
Performance across sectors was largely bullish as 4 of 5 indices closed northwards. The Industrial Goods index emerged the lone loser, down 0.4% largely due to selling pressures in WAPCO (-3.4%). On the flip side, the Banking index appreciated the most, up 3.9% owing to a sector wide rally. However, ZENITH (+4.7%), GUARANTY (+1.8%) and UBA (+5.0%) were the major drivers of this performance. The Oil & Gas and Insurances indices trailed, rising 1.1% and 0.9% respectively on the back of gains in MOBIL (+5.0%), FORTE (+1.8%), MANSARD (+4.7%) and NEM (+4.5%). Similarly, price appreciation in DANGSUGAR (+5.0%), NIGERIAN BREWERIES (+0.3%) and GUINNESS (+4.6%) pulled the Consumer Goods index 0.3% higher.
Investors sentiment measured by market breadth (advance/decline ratio) strengthened to 2.9x from 1.0x recorded the previous trading day as 46 stocks advanced against 16 stocks that declined. The top performing stocks were FBNH (+10.2%), STERLING (+10.0%) and DIAMOND (+10.0%) while HONYFLOUR (-6.0%), LAWUNION (-4.5%) and NPFMCRFBK (-4.2%) led laggards. Going forward, we expect market performance to remain largely positive despite the possibility of profit taking by investors.
Market Statistics Tuesday, 16th January 2018
Market Cap (N’bn) 15,782.5
Market Cap (US$’bn) 51.6
NSE All-Share Index 44,054.72
Daily Performance % 2.2
Week Performance % 9.1
YTD Performance % 15.2
Daily Volume (Million) 635.4
Daily Value (N’bn) 7.6
Daily Value (US$’m) 24.9
