The positive performance in the local bourse was sustained as the All Share Index (ASI) gained 4bps to settle at 41,233.42 points while the YTD return stood at 7.7 per cent. In view of that, investors lost N16.6 billion in value as market capitalisation fell to N14.9 trillion. Today’s positive performance was largely driven by gains in DANGCEM (+1.0%) and GUINNESS (+0.5%). Activity level weakened as volume and value traded depreciated 21.9 per cent and 39.3 per cent to 221.4 million and N2.6 billion respectively. The top traded stocks by volume were LASACO (24.3m), GUARANTY (20.7m) and SOVRENINS (16.6m) while GUARANTY (N937.6m), NIGERIAN BREWERIES (N499.8m) and ZENITH (N292.4m) were the top traded by value.
Sector performance was largely bullish as 3 of 5 indices under our coverage closed in the green. The Industrial Goods index led advancers, up 0.4% on the back of gains in DANGCEM (+1.0%). Similarly, the Oil & Gas and Insurance indices closed 0.2% and 0.1% higher respectively due to bargain hunting in 11PLC (+4.8%), ETERNA (+9.8%), AIICO (+4.4%) and MBENEFIT (+3.9%). On the flipside, the Banking and Consumer Goods indices shed 0.3% and 0.2% respectively following losses in GUARANTY (-0.6%), ZENITH (-0.2%), NIGERIAN BREWERIES (-0.8%) and HONYFLOUR (-1.5%).
Investor sentiment measured by market breadth (advance/decline ratio) remained flat at 1.2x as 21 stocks gained against 18 stocks that declined. The top performing stocks today were ETERNA (+9.8%), CILEASING (+5.0%) and 11PLC (+4.8%) while UNITY (-5.0%), UAC-PROP (-4.9%) and NPFMCRFBK (-4.7%) were the worst performing stocks. Given the positive investor sentiment, we expect bargain hunting to continually buoy performance in the near time as attractive prices exist in the market.
Market Statistics Monday, 7th May 2018
Market Cap (N’bn) 14,914.0
Market Cap (US$’bn) 48.7
NSE All-Share Index 41,233.42
Daily Performance % 0.0
Week Performance % (0.1)
YTD Performance % 7.8
Daily Volume (Million) 221.4
Daily Value (N’bn) 2.6
Daily Value (US$’m) 8.4
