The equities market opened the week negative as the All-Share Index lost 0.3% due to sell-offs in MTNN (-0.4%), BUACEMENT (-1.5%) and FLOURMILL (-4.5%) to close at 28,337.49 points. As a result, market capitalisation declined to ₦14.8tn as investors lost ₦40.7bn while YTD return worsened to 5.6%. Activity level was mixed as volume traded fell 3.9% to 369.2m units while value traded rose 30.6% to ₦5.1bn. The most active stocks by volume were UBA (95.1m units), GUARANTY (65.5m units) and ZENITH (47.2m units) while GUARANTY (₦1.9bn), ZENITH (₦944.3m) and UBA (₦678.7m) led by value.
Sector performance was uninspiring as all indices our coverage lost save Oil & Gas index which gained 1.4% due to buy interest in ETERNA (+9.9%) and SEPLAT (+2.4%). The Insurance and Consumer Goods indices lost the most, down 1.8% and 0.9% respectively due to sell offs in MANSARD (-9.7%) and AIICO (-3.6%) as well as FLOURMILL (-4.5%) and INTBREW (-9.1%). Similarly, the Industrial Goods, AFR-ICT and Banking indices declined 0.5%, 0.2% and 0.1% respectively on the back of price depreciation in BUACEMENT (-1.5%), MTNN (-0.4%) ZENITH (-0.3%).
Investor sentiment as measured by market breadth (advance/decline ratio) rose to 0.8x from the 0.6x recorded in the previous session as 13 stocks gained against 16 decliners. ETERNA (+9.9%), UNIONDAC (+8.3%) and TRANSCORP (+4.8%) gained the most while INTBREW (-9.1%), MANSARD (-5.7%) and FLOURMILL (-4.5%) led the laggards. We expect losses in the market to be sustained as investors book profit.
Market Statistics for Monday, 12th October 2020
|Market Cap (N’bn)||14,811.5|
|Market Cap (US$’bn)||38.4|
|NSE All-Share Index||28,337.49|
|Daily Performance %||(0.3)|
|WTD Performance %||(0.3)|
|MTD Performance %||5.6|
|QTD Performance %||5.6|
|YTD Performance %||5.6|
|Daily Volume (Million)||369.2|
|Daily Value (N’bn)||5.1|
|Daily Value (US$’m)||13.1|