Today, the local bourse closed flat as the NSE All-Share Index stood at 24,173.53 points despite gains in ETERNA (+8.9%), MAYBAKER (+7.9%) and NEIMETH (+7.1%). Thus, market capitalisation remained at ₦12.6tn while YTD loss settled at -9.9%. Activity level was mixed as volume traded fell 12.5% to 266.1m units while value traded rose 15.3% to ₦3.8bn. The most active stocks by volume were NIGERIAN BREWERIES (52.6m units), MULTIVERSE (50.0m units) and STERLING (29.2m units) while NIGERIAN BREWERIES (₦1.6bn), DANGCEM (₦1.3bn) and GUARANTY (₦204.9m) led by value.
Performance across sectors was mixed as 2 indices gained, 2 lost while the AFR-ICT and Industrial Goods indices closed the trading session flat. The Consumer Goods and Oil & Gas indices closed positive, up 13bps and 3bps respectively owing to price upticks in NIGERIAN BREWERIES (+4bps) and ETERNA (+8.6%). Conversely, losses in CHIPLC (-8.2%) and STERLING (-3.4%) dragged the Insurance and Banking indices lower by 64bps and 3bps respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 1.0x from the 1.7x recorded in the previous session as 9 stocks advanced against the 9 that declined. The top gainers were ETERNA (+8.6%), MAYBAKER (+7.9%) and NPFMCRFBK (+7.6%) while GLAXOSMITH (-9.5%), CHIPLC (-8.2%) and PRESTIGE (-6.1%) were the top decliners. We expect bargain hunting to drive gains in the next trading session.
Corporate Actions
Chemical and Allied Products Plc (Unaudited Q2:2020 Result): Revenue fell 10.7% y/y to ₦3.5bn from ₦3.9bn in Q2:2019 while profit after tax fell 30.0% to ₦0.6m from ₦0.9m in Q2:2019.
Market Statistics for Wednesday, 22nd July 2020
| Market Cap (N’bn) | 12,610.3 |
| Market Cap (US$’bn) | 32.7 |
| NSE All-Share Index | 24,173.53 |
| Daily Performance % | 0.0 |
| WTD Performance % | (0.5) |
| MTD Performance % | (1.2) |
| QTD Performance % | (1.2) |
| YTD Performance % | (9.9) |
| Daily Volume (Million) | 266.1 |
| Daily Value (N’bn) | 3.8 |
| Daily Value (US$’m) | 9.8 |
Source: Afrinvest
