The Nigerian Equities Market recorded a positive performance as the All-Share Index advanced 31bps to 25,654.90 points following gains in MTNN (+2.4%), DANGSUGAR (+0.8%) and FBNH (+2.0%). Consequently, market capitalisation rose to ₦13.4tn as investors gained ₦28.8bn while YTD loss improved to -4.4%. Activity level advanced as volume and value traded rose 33.6% and 158.8% respectively to 262.1m units and ₦4.4bn. The most traded stocks by volume were ZENITH (45.9m units), FBNH (24.1m units) and TRANSCORP (20.9m units) while MTNN (₦1.6bn), ZENITH (₦766.3m) and PRESCO (₦626.9m) led by value.
Sector performance was lackluster as 5 of the 6 indices that we cover closed in the negative region. The AFR-ICT index was the lone gainer, up 1.2% following price accretion in MTNN (+2.4%). On the flip side, the Insurance index was the worst-performing indicator, losing 1.1% due to price decline in CORNERSTONE (-6.2%) and LINKASSURE (-5.0%). Similarly, the Banking and Oil & Gas indices posted respective losses of 0.6% and 0.2%, on the back of sell pressures in UBN (-6.5%), ACCESS (-0.8%) and OANDO (-1.7%). Lastly, losses in INTBREW (-2.9%) and DANGCEM (-0.2%) dragged the Industrial and Consumer Goods indices lower by 0.1% apiece.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.5x from the 0.6x recorded previously as 9 stocks gained against the 17 that lost. The top gainers were REDSTRAREX (+9.8%), CHIPLC (+9.7%) and TRANSEXPRESS (+9.3%) while UBN (-6.5%), CORNERSTONE (-6.2%) and LINKASSURE (-5.0%) lost the most. We expect bargain hunting to persist in the market.
Market Statistics for Tuesday, 22nd September 2020
| Market Cap (N’bn) | 13,407.6 |
| Market Cap (US$’bn) | 34.5 |
| NSE All-Share Index | 25,654.90 |
| Daily Performance % | 0.3 |
| WTD Performance % | 0.3 |
| MTD Performance % | 1.3 |
| QTD Performance % | 4.3 |
| YTD Performance % | (4.4) |
| Daily Volume (Million) | 262.1 |
| Daily Value (N’bn) | 4.4 |
| Daily Value (US$’m) | 11.6 |
