Performance across sectors was mixed as 3 of 6 sectors under our coverage lost. The Banking index led gainers, driven by price appreciation in GUARANTY (+3.6%), STANBIC (+5.7%) and UBA (+8.6%) while the Industrial Goods index trailed, advancing 0.7% due to gains in CCNN (+3.1%). On the other hand, the Insurance and Consumer Goods indices led the losers’ chart, down 73bps and 71bps respectively following sell-offs in CONTINSURE (-2.5%), UNILEVER (-9.9%) and INTBREW (-9.9%). The Oil & Gas index also declined 1.2% due to losses in MRSOIL (-9.7%). Finally, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 1.4x from 1.8x recorded in the previous session as 18 stocks gained against 13 decliners. The top gainers were FIDELITY (+6.9%), NAHCO (+6.4%) and STANBIC (+6.7%) while FIDSON (-10.0%), UNILEVER (-9.9%) and INTBREW (-9.9%) were the top losers. We do not expect today’s gains to be sustained as investors sentiment towards equities remain sour.
Market Statistics Monday, 4th November, 2019
| Market Cap (N’bn) | 12,836.3 |
| Market Cap (US$’bn) | 35.7 |
| NSE All-Share Index | 26,401.06 |
| Daily Performance % | 0.4 |
| 1 Week Performance % | 0.1 |
| YTD Performance % | (16.0) |
| Daily Volume (Million) | 368.2 |
| Daily Value (N’bn) | 2.8 |
| Daily Value (US$’m) | 7.7 |
Source: Afrinvest
