Today, the domestic bourse recorded a loss of 9bps to settle at 25,582.23 points, ending the 5-day bullish streak as a result of sell-offs in GUARANTY (-2.5%), DANGSUGAR (-3.6%) and UBA (-2.3%). Consequently, investors lost ₦12.2bn as market capitalisation fell to ₦13.4tn while YTD loss worsened to -4.7%. Activity level reduced as volume and value traded declined 39.5% and 47.2% to 254.0m units and ₦2.0bn respectively. The most traded stocks by volume were UBA (44.3m units), ZENITH (30.8m units) and ACCESS (29.1m units) while ZENITH (₦536.1m), UBA (₦292.0m) and ACCESS (₦196.6m) topped by value.
Sector performance remained bullish as 3 of 6 indicators that we cover closed positive, 2 lost while the AFR-ICT index remained unchanged. The Banking and Consumer Goods indices ended on a bearish note, losing 0.7% and 0.4% respectively on account of sell-pressures in GUARANTY (-2.5%), UBA (-2.3%) and DANGSUGAR (-3.6%). On the flip side, the Insurance index posted the best performance, climbing 0.7% on the back of buying interest in NEM (+8.7%). In the same vein, gains in ETERNA (+9.1%), OANDO (+2.2%) and CAP (+0.6%) lifted the Oil & Gas and Industrial Goods indices by 0.2% and 3bps respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 1.1x from the 2.1x recorded previously as 16 stocks gained against the 15 that declined. The top gainers were ETERNA (+9.1%), NEM (+8.7%) and CILEASING (+8.3%) while HONYFLOUR (-6.2%), CHAMS (-4.5%) and REDSTAREX (-4.4%) lost the most. We expect profit-taking to persist in the next trading session.
Market Statistics for Monday, 7th September 2020
| Market Cap (N’bn) | 13,345.9 |
| Market Cap (US$’bn) | 34.6 |
| NSE All-Share Index | 25,582.23 |
| Daily Performance % | (0.1) |
| WTD Performance % | (0.1) |
| MTD Performance % | 1.1 |
| QTD Performance % | 4.5 |
| YTD Performance % | (4.7) |
| Daily Volume (Million) | 254.0 |
| Daily Value (N’bn) | 2.0 |
| Daily Value (US$’m) | 5.2 |
Source: Afrinvest
