The equity market marginally advanced by 5bps in today’s trading session to settle at 31,984.6 points on account of buy interests in FLOURMILL (+10.0%), ZENITH (+0.6%) and GUARANTY (+0.4%). Consequently, market capitalisation appreciated by N5.4 billion to N11.7 trillion while YTD loss remained at -16.4 per cent. Activity level improved as volume and value traded advanced 182.8 per cent and 334.4 per cent to 672.2 million units and N15.2 billion respectively. The top traded stocks by volume were ZENITH (605.5m units), TRANSCORP (9.3m units) and FBNH (7.3m units) while ZENITH (N14.5bn), NIGERIAN BREWERIES (N196.6m) and GUARANTY (N140.7m) were the top traded stocks by value.
Performance across sectors was largely bullish as 3 of 5 indices under our coverage appreciated in value. The Banking index advanced the most, up 0.2 per cent on account of buy interests in ZENITH (+0.6%) and GUARANTY (+0.4%). Similarly, the Consumer Goods index appreciated by 0.1 per cent following gains in FLOURMILL (+9.9%) and PZ (+7.8%) while the Insurance and Industrial indices stayed flat despite gains in LASACO (+3.5%). On the flip side, the Oil & Gas index declined by 0.4 per cent following sell-offs in OANDO (-3.9%) and JAPAUL (-4.8%).
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.2x from 0.4x recorded in the last trading session as 15 stocks appreciated against 13 decliners. FLOURMILL (+9.9%), UNIONDAC (+8.0%) and PZ (+7.8%) were the best performing stocks while IKEJAHOTEL (-9.8%), JAIZBANK (-8.9%) and LAWUNION (-8.9%) led the laggards. On account of today’s mild rebound, we expect to see more bargain hunting activities in tomorrow ’s trading session while maintaining our bearish outlook in the near term.
Market Statistics Thursday, 22nd November 2018
Market Cap (N’bn) 11,676.9
Market Cap (US$’bn) 38.1
NSE All-Share Index 31,984.60
Daily Performance % 0.0
Week Performance % 0.4
YTD Performance % (16.4)
Daily Volume (Million) 672.3
Daily Value (N’bn) 15.2
Daily Value (US$’m) 49.7
