The benchmark index reversed previous day’s gain as it dipped 0.2% to 26,513.65 points following losses posted by MTNN (-0.8%), GUARANTY (-0.7%) and DANGFLOUR (-2.4%). Similarly, YTD loss worsened to -15.6% while market capitalisation trended southward by N21.3bn to N12.9tn. However, activity level was mixed as volume traded was up 35.1% to 174.4m while value traded fell 15.5% to N2.3bn. The most active stocks by volume were ACCESS (27.3m units), GUARANTY (24.6m units) and FCMB (23.0m units) while GUARANTY (N655.8m), MTNN (N447.2m) and ZENITH (N203.4m) led by value.
Performance across sectors was bearish as 5 of the 6 stocks under our coverage lost. The Industrial Goods index was the lone gainer, up 0.8% on the back of price appreciation in CCNN (+4.3%). Conversely, the AFR-ICT and Insurance indices led the laggards, down 0.5% and 0.4% respectively following sell pressures in MTNN (-0.8%) and AIICO (-7.4%). Similarly, the Banking, Oil & Gas, and Consumer Goods indices all trended lower by 30bps, 20bps and 3bps respectively on the back of sell-offs in UBA (-0.8%), GUARANTY (-0.7%), OANDO (-2.0%) and DANGFLOUR (-2.4%).
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.6x from 1.2x recorded in yesterday’s session as 7 stocks gained against 13 decliners. The top gainers were NAHCO (+5.2%), CCNN (+4.3%) and UCAP (+3.4%) while GLAXOSMITH (-9.9%), COURTVILLE (-9.1%) and UNIONDAC (-8.3%) were the top losers. We expect the bearish sentiment to persist as investors continue to take a risk-off approach towards the market.
Market Statistics Tuesday, 15th October, 2019
| Market Cap (N’bn) | 12,906.7 |
| Market Cap (US$’bn) | 35.9 |
| NSE All-Share Index | 26,513.65 |
| Daily Performance % | (0.2) |
| 1 Week Performance % | (1.1) |
| YTD Performance % | (15.6) |
| Daily Volume (Million) | 174.4 |
| Daily Value (N’bn) | 2.3 |
| Daily Value (US$’m) | 6.4 |
