The local bourse sustained gains as the All-Share Index rose 27bps to close at 25,383.43 points following price appreciation in DANGCEM (+1.4%), GUARANTY (+2.2%) and MTNN (+0.4%). Consequently, investors gained ₦47.9bn as market capitalisation settled at ₦13.2tn while YTD return improved to -5.4%. Activity level rose as volume and value traded advanced 49.2% and 128.9% to 377.9m units and ₦6.1bn respectively. The most active stocks by volume were NIGERIAN BREWERIES (50.5m units), GUARANTY (40.4m units) and ZENITH (34.9m units) while NIGERIAN BREWERIES (₦2.2bn), DANGCEM (₦1.1bn) and ZENITH (₦1.0bn) led by value.
Performance across sectors under our coverage was mixed as 3 indices gained, 2 lost while the Oil & Gas index closed flat. The Insurance (+1.3%) index gained the most due to buying interest in AIICO (+3.8%). Likewise, the Industrial (+0.5%) Goods and AFR-ICT (+0.3%) indices trailed, following price appreciation in DANGCEM (+1.4%) and MTNN (+0.4%). Meanwhile profit-taking in ACCESS (-1.4%) and DANGSUGAR (-0.7%) dragged the Banking and Consumer Goods indices by 0.1% apiece.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 1.1x from the 2.7x recorded in the previous session as 19 stocks advanced against 18 decliners. The top gainers were NEIMETH (+9.8%), UPL (+9.6%) and JAPAULOIL (+9.1%) while PRESTIGE (-10.0%), OMATEK (-9.7%) and CHAMPION (-9.1%) led the losers. We expect profit-taking activities in the next trading session.
Corporate Actions
FBN Holdings Plc announced the completion of the sale and transfer of FBNH’s 65.0% shareholding in FBN Insurance Limited to Sanlam Emerging Markets (SEM).
Skyway Aviation Handling Company (SAHCO) Plc proposed a dividend of ₦0.17 for the financial year ended, 31st December 2019. Closure of register would be from 17th to 23rd June 2020, qualification date is on the June 16 while payment would be made on the June 30, 2020.
Fidson Healthcare Plc (Q1:2020 Unaudited Results): revenue grew 6.0% y/y to ₦3.7bn from ₦3.5bn in Q1:2019 while PAT increased 4.9% y/y to ₦223.5m from ₦213.1m in Q1:2019.
Market Statistics for Tuesday, 2nd June 2020
| Market Cap (N’bn) | 13,241.5 |
| Market Cap (US$’bn) | 36.8 |
| NSE All-Share Index | 25,383.43 |
| Daily Performance % | 0.3 |
| One Week Performance % | 0.5 |
| MTD Performance % | 0.5 |
| QTD Performance % | 19.2 |
| YTD Performance % | (5.4) |
| Daily Volume (Million) | 377.9 |
| Daily Value (N’bn) | 6.1 |
| Daily Value (US$’m) | 16.8 |
