The Nigerian Equities market opened the week on a positive note as the All Share Index (ASI) rose 0.5 per cent to settle at 37,312.28 points, implying a YTD return of 38.8 per cent. Accordingly, investors gained N66.5 billion as the market capitalisation of listed stocks settled at N12.9 trillion. Today’s positive performance was largely on the back of price appreciation in DANGCEM (+3.9%); ex- DANGCEM, market would have lost 1.0 per cent. In the same vein, activity level improved today as volume and value traded increased 18.5 per cent and 14.3 per cent to 207.8 m million units and N3.0 billion respectively.
Industrial goods index leads sector performance
Sector performance was mixed as 3 of 5 indices closed the day’s trading session in the red. The Industrial Goods Index was the biggest gainer, up 2.1 per cent due to buying interest in DANGCEM (+3.9%). Similarly, the Oil & Gas index followed, appreciating 0.9 per cent on the back of gains in FORTE (+8.8%). On the contrary, the Banking Index shed the most, down 1.6 per cent as investors’ booked profit in the GUARANTY (-3.0%), UBA (-1.6%) and ZENITH (-0.6%). In the same vein, the Consumer Goods and Insurance indices closed lower, down 1.3 per cent and 0.4 per cent respectively due to losses in NIGERIAN BREWERIES (-3.4%) and CUSTODYN (-4.6%).
Market breadth turns negative
Investor Sentiment as measured by market breadth (advancers/decliners) retreated to 0.6x from 1.1x recorded on Friday. The day’s top gainers were FORTE (+8.8%), OKOMUOIL (+4.6%) and NEM (+4.4%) while CILEASING (-4.8%), CAVERTON (-4.8%) and VITAFOAM (-4.7%) were the top losers. While we attribute today’s positive performance to price appreciation in market bellwether – DANGCEM, we re-iterate our medium term positive outlook on the stock market given the recent rally in global oil prices.
Market Statistics Monday, 13th November 2017
Market Cap (N’bn) 12,913.7
Market Cap (US$’bn) 42.2
NSE All-Share Index 37,312.28
Daily Performance % 0.5
Week Performance % 1.0
YTD Performance % 38.8
Daily Volume (Million) 207.8
Daily Value (N’bn 3.0
Daily Value (US$’m) 9.9
