Today, trading in the domestic equities market closed south as price depreciation in BUACEMENT (-3.9%), UACN (-9.1%) and ZENITH (-1.2%) dragged the All-Share Index by 47bps to close at 25,215.04 points. As a result, market capitalisation fell ₦62.6bn to settle at ₦13.2tn while YTD loss worsened to -6.1%. Activity level was mixed as volume traded decreased 0.8% to 266.6m units while value traded spiked 183.9% to ₦3.2bn. The most active stocks by volume were GUARANTY (69.4m units), MBENEFIT (51.8m units) and FBNH (31.2m units) while GUARANTY (₦1.7bn), ZENITH (₦274.5m) and DANGCEM (₦235.5m) led the value chart.
Sector performance was bearish as 3 of 6 indices under our coverage declined. The Industrial and Consumer Goods indices led the laggards, shedding 2.5% and 0.3% respectively due to profit-taking in BUACEMENT (-3.9%) and DANGSUGAR (-1.0%). The Banking index trailed, losing 0.1% following price declines in ZENITH (-1.8%) and STANBIC (-0.6%). Conversely, the Insurance and Oil & Gas indices appreciated 1.4% and 0.2% respectively, due to gains in CORNERSTONE (+8.0%), CHIPLC (+6.5%) and OANDO (+1.8%). Lastly, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) expanded to 1.0x from the 0.6x recorded in the previous session as 19 stocks advanced against 19 decliners. The best performing stocks were PRESTIGE (+10.0%), BERGER (+10.0%) and NEIMETH (+9.9%) while CILEASING (-10.0%), UACN (-9.1%) and JAPAULOIL (-8.0%) lost the most. We expect profit taking activities to drag the performance of the equities market for the rest of the week.
Corporate Actions
MTN Nigeria Communications Plc announced the successful issuance of the ₦100 billion Series I & II Notes under the debut ₦100 billion commercial paper (CP) programme. The series 180-day and 270-day notes were priced at an effective yield of 4.90% and 5.95% sized at ₦20.0bn and ₦80.0bn respectively.
UACN Plc announced a full-year dividend of 10kobo per ordinary share, subject to appropriate withholding tax.
Market Statistics for Tuesday, 10th June 2020
| Market Cap (N’bn) | 13,153.7 |
| Market Cap (US$’bn) | 36.5 |
| NSE All-Share Index | 25,215.04 |
| Daily Performance % | (0.5) |
| WTD Performance % | 0.8 |
| MTD Performance % | (0.2) |
| QTD Performance % | 18.4 |
| YTD Performance % | (6.1) |
| Daily Volume (Million) | 266.6 |
| Daily Value (N’bn) | 3.2 |
| Daily Value (US$’m) | 8.8 |
