Following the 2-day public holiday, the stock market resumed with a positive momentum as the All-Share Index advanced 7bps to close at 25,221.23 points, driven by gains in STANBIC (+10.0%), GUARANTY (+4.6%) and NIGERIAN BREWERIES (+10.0%). Consequently, investors gained ₦8.6bn as market capitalisation settled at ₦13.1tn while YTD loss improved to -6.0%. Activity level advanced as volume and value traded rose 124.0% and 94.0% to 581.6m units and ₦5.6bn respectively. The most active stocks by volume were FBNH (120.9m units) ZENITH (67.3m units), and GUARANTY (62.7m units) while GUARANTY (₦1.5bn), ZENITH (₦1.2bn) and FBNH (₦681.9m) led by value.
Performance across all sectors under our coverage was mixed as 3 indicators lost, 2 gained while AFR-ICT index closed flat. The Industrial Goods index lost 2.0% to lead the laggards, driven by a loss in DANGCEM (-8.5%). The Insurance (-0.6%) and Oil & Gas (-0.3%) indices trailed as a result of sell-offs in WAPIC (-6.1%) and ARDOVA (-10.0%). Meanwhile, price appreciation in GUARANTY (+4.6%), ZENITH (+5.6%), DANGSUGA (+9.4%) and NIGERIAN BREWERIES (+10.0%) saw the Banking and Consumer Goods indices gain 5.4% and 3.1% respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) rose to 2.8x from the 1.8x recorded in the previous session as 31 stocks gained relative to 11 losers. The top gainers were NIGERIAN BREWERIES (+10.0%), STANBIC (+10.0%) and MAYBAKER (+10.0%) while ARDOVA (-10.0%), REGALINS (-8.7%) and AFROMEDIA (-7.1%) led the losers. We expect the positive run to persist in the coming trade session.
Corporate actions
Dangote Cement Plc – Q1:2020 Unaudited Financial Statements: Revenue rose 3.8% y/y to ₦249.2bn while PAT advanced 0.6% y/y to ₦60.6bn. Consequently, EPS strengthened to ₦3.60 in Q1 2020, from ₦3.54 in Q1:2019.
Chemical and Allied Products Plc – FY:2019 Audited Financial Statements: Revenue climbed 9.7% y/y to ₦8.4bn while PAT fell 14.1% y/y to ₦1.7bn. Moreover, EPS weakened to ₦2.49 from ₦2.90 in 2018.
Market Statistics for Wednesday, 27th May 2020
| Market Cap (N’bn) | 13,144.1 |
| Market Cap (US$’bn) | 36.5 |
| NSE All-Share Index | 25,221.23 |
| Daily Performance % | 0.1 |
| One Week Performance % | 0.1 |
| MTD Performance % | 9.6 |
| QTD Performance % | 18.4 |
| YTD Performance % | (6.0) |
| Daily Volume (Million) | 581.6 |
| Daily Value (N’bn) | 5.6 |
| Daily Value (US$’m) | 15.5 |
