Momentum remains strong in the equities market as the All-Share Index advanced 10bps to close at 25,407.96 points, driven by gains in MTNN (+1.3%), ETI (+7.8%) and FBNH (+0.9%). Consequently, investors gained ₦12.8bn as market capitalisation settled at ₦13.3tn while YTD loss improved to -5.3%. Activity level was mixed as volume traded fell 8.5% to 353.3m units while value traded rose 16.1% to ₦7.0bn. The most active stocks by volume were FBNH (50.3m units), NIGERIAN BREWERIES (45.9m units), and GUARANTY (42.4m units) while DANGCEM (₦2.1bn), NIGERIAN BREWERIES (₦2.0bn) and GUARANTY (₦1.1bn) led by value.
Performance across all sectors under our coverage was mixed as 3 indicators lost, 2 gained while Oil & Gas index closed flat. The AFR-ICT (0.7%) and Insurance (0.1%) indices were the lone gainers following bargain hunting in MTNN (+1.3%) and LASACO (+8.0%) respectively. Conversely, sell pressures in GUARANTY (-0.4%), GUINNESS (-5.0%) and DANGCEM (-0.4%) dragged the Banking (-0.6%), Consumer (-0.4%) and Industrial Goods (-0.2%) indices lower.
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.9x from the 1.1x recorded in the previous session as 17 stocks gained relative to 19 losers. The top gainers were NEIMETH (+9.7%), PRESCO (+9.0%) and JAPAUOIL (+8.3%) while PZ (-9.4%), CILEASING (-9.3%) and AFROMEDIA (-8.7%) led the losers. We expect the bullish run to persist in the coming trading session.
Corporate Actions
Presco Plc – proposed a dividend of ₦2.0 for the financial year ended, 31st December 2019. Register of shareholders will be closed from 20th to 22nd July 2020, qualification date is on the 17th of July while payment would be made on the 7th of August, 2020.
Trans-Nationwide Express Plc – announced a dividend of ₦0.03 for the financial year ended, 31st December 2019. Closure of register would be from 6th to 10th July 2020, qualification date is on the 3rd of July while payment would be made on the 10th of July, 2020.
Market Statistics for Wednesday, 3rd June 2020
| Market Cap (N’bn) | 13,254.3 |
| Market Cap (US$’bn) | 36.9 |
| NSE All-Share Index | 25,407.96 |
| Daily Performance % | 0.1 |
| One Week Performance % | 0.6 |
| MTD Performance % | 0.6 |
| QTD Performance % | 19.3 |
| YTD Performance % | (5.3) |
| Daily Volume (Million) | 353.3 |
| Daily Value (N’bn) | 7.0 |
| Daily Value (US$’m) | 19.5 |
