The equities market closed positive, albeit marginally, as the All Share Index (ASI) rose 2bps to settle at 36,608.76 points while YTD gain closed flat to 36.2 per cent. Accordingly, market capitalisation increased by N7.3 billion to N12.8 trillion. Today’s market performance can be primarily accredited to buying interest in NESTLE (+3.1%), ZENITH (+1.3%) and UNILEVER (+5.7%) which was offset by losses in NB (-3.0%), ETI (-2.9%), FOURMILL (-4.9%) and STANBIC (-0.9%). On a similar note, activity level improved as volume and value traded advanced 28.4 per cent and 68.9 per cent to 331.2m units and N5.6 billion respectively. Also, there was an off-market transaction of 69.4 m million units of Union Bank at N6.80/share with a total value of N471.7 million in three separate cross deals.
Sector performance was broadly positive as 3 of the 5 major indices closed positive while 2 closed flat. The Consumer Goods index gained the most, rising 0.3 per cent on the back of price appreciations in NESTLE (+3.1%), UNILEVER (+5.7%) and DANGSUGAR (+0.8%). In the same vein, the Banking index inched 0.2 per cent higher due to renewed buying interest in ZENITH (+1.3%), UBA (+1.0%), and GUARANTY (+0.1%). Similarly, gains in WAPIC (+4.0), LINKASSURE (+5.0%) and NEIMETH (+3.4%) drove the Insurance index, up 0.2 per cent. The Oil & Gas and Insurance indices closed the day flat.
Investor sentiment (advancers/decliners’) weakened further to 0.8x from 0.9x recorded the previous day consequent on 17 stocks advancing against 22 stocks declining. Today’s top performers were UNILEVER (+5.7%), LINKASSURE (+4.9%) and WAPIC (+4.0%) while GLAXOSMITH (-9.7%), FLOURMILL (-5.0%) and LIVESTOCK (-4.5%) led laggards. Although market performance was positive, investor sentiment has softened for the third cons
ecutive day due to an absence of fundamental sentiment drivers. Notwithstanding, we expect market performance to stay positive in the near term as investors position ahead of anticipated year-end rally.
Market Statistics Wednesday, 22nd November 2017
Market Cap (N’bn)
12,745.4
Market Cap (US$’bn)
41.7
NSE All-Share Index
36,608.76
Daily Performance %
0.0
Week Performance %
0.0
YTD Performance %
36.2
Daily Volume (Million)
331.2
Daily Value (N’bn)
5.6
Daily Value (US$’m)
18.2
