Nigerian Equities market close in the Red, investors lost N9.2bn

Sell-offs in ZENITH (-1.8%), DANGSUGAR (-5.9%) and ETI (-2.5%) dragged the benchmark index lower by 7bps to settle at 25,532.74 points. Consequently, market capitalisation fell to ₦13.3tn as investors lost ₦9.2bn while YTD loss worsened to -4.9%. Activity level was mixed as volume traded rose 9.2% to 231.2m units while value traded decreased 13.3% to ₦2.1bn. The most traded stocks by volume were FCMB (33.5m units), ACCESS (30.4m units), and ZENITH (25.1m units) while GUARANTY (₦506.3m), ZENITH (₦418.0m) and MTNN (₦322.0m) led by value.

Performance across sectors was mixed as 2 of the 6 indices under our coverage gained, 2 lost and 2 closed flat. The Insurance and Consumer Goods indices rose 1.3% and 0.1% respectively due to buying interest in WAPIC (+9.1%), AIICO (+4.7%), FLOURMILL (+1.5%) and CADBURY (+4.2%). On the other hand, the Banking and Oil & Gas indices lost 0.4% and 0.2% respectively on account of sell pressures in ZENITH (-1.8%), ETI (-2.5%) and OANDO (-2.1%). Finally, the Industrial Goods and AFR-ICT indices closed flat.

Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.5x from the 0.9x recorded previously as 17 stocks gained against the 11 that lost. The top gainers were INTBREW (+10.0%), WAPIC (+9.1%) and NPFMCRFBK (+8.3%) while TRIPPLEG (-9.1%), CAVERTON (-8.6%) and DANGSUGAR (-5.9%) lost the most. Given the sustained bearish sentiment, we expect the equities market to close the week in the red.

Market Statistics for Thursday, 17th September 2020 

Market Cap (N’bn) 13,343.7
Market Cap (US$’bn) 34.6
NSE All-Share Index 25,532.74
Daily Performance % (0.1)
WTD Performance % (0.2)
MTD Performance % 0.8
QTD Performance % 4.3
YTD Performance % (4.9)
Daily Volume (Million) 231.2
Daily Value (N’bn) 2.1
Daily Value (US$’m) 5.4

Categories: Finance,News,Stock Market

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