The equities market ended today’s trading session in the green as the All-Share Index (ASI) rose 93bps to close at 25,250.20 points following price accretion in MTNN (+1.7%), BUACEMENT (+3.8%) and NIGERIAN BREWERIES (+1.2%). Consequently, investors gained ₦121.9bn as market capitalisation increased to ₦13.1tn while YTD return moderated to -5.9%. Activity level was mixed as average volume advanced 7.5% to 230.5m units while value traded declined 13.9% to ₦2.2bn. The most active stocks by volume were FBNH (34.5m units) GUARANTY (22.9m units), and JAPAULOIL (21.3m units) while GUARANTY (₦550.1m), ZENITH (₦327.1m) and FBNH (₦188.4m) led the value chart.
Across sectors under our coverage, performance was impressive as 5 of 6 indices recorded gains. The Industrial Goods and Insurance indices rose 2.4% and 1.6% respectively following gains in BUACEMENT (+3.8%) and WAPIC (+10.0%). Price appreciation in ACCESS (+2.3%) and FBNH (+1.9%) buoyed performance in the Banking index by 1.0%. Similarly, the AFR-ICT and Consumer Goods indices expanded 1.0% and 7bps respectively, following buy interest in MTNN (+1.7%) and NIGERIAN BREWERIES (+1.2%). Lastly, the Oil & Gas index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) advanced to 2.8x from the 1.2x recorded in the previous session as 31 stocks gained relative to 11 losers. The top gainers were WAPIC (+10.0%), FIDSON (+9.8%) and NEIMETH (+9.8%) while JAPAUOLOIL (-10.0%), CORNERSTONE (-9.1%) and CHAMS (-7.4%) were top losers. We expect a mixed performance for the week as the market presents opportunities for bargain hunting and profit taking.
Market Statistics for Monday, 8th June 2020
| Market Cap (N’bn) | 13,171.9 |
| Market Cap (US$’bn) | 36.6 |
| NSE All-Share Index | 25,250.2 |
| Daily Performance % | 0.9 |
| WTD Performance % | 0.9 |
| MTD Performance % | 0.1 |
| QTD Performance % | 18.5 |
| YTD Performance % | (5.9) |
| Daily Volume (Million) | 230.5 |
| Daily Value (N’bn) | 2.29 |
| Daily Value (US$’m) | 6.0 |
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