Today, the NSE All-Share Index (ASI) appreciated 34bps to close at 25,335.15 points following buying interest in BUACEMENT (+4.1%), DANGSUGAR (+2.8%) and UBA (+0.8%). Consequently, investors gained ₦44.4bn as market capitalisation increased to ₦13.2tn while YTD loss eased to -5.6%. Activity level was mixed as volume traded advanced 16.6% to 268.7m units while value traded declined 48.3% to ₦1.2bn. The most active stocks by volume were MBENEFIT (99.4m units) FCMB (21.9m units), and FBNH (17.9m units) while GUARANTY (₦170.4m), ZENITH (₦168.1m) and MTNN (₦99.7m) led the value chart.
Performance across sectors under our coverage was mildly bullish as 3 of 6 indices closed in the green. The Industrial Goods index led gainers, up 2.6% due to sustained interest in BUACEMENT (+4.1%). Meanwhile, gains in MBENEFIT (+10.0%), DANGSUGAR (+2.7%) and HONYFLOUR (+1.2%) pushed the Insurance and Consumer Goods indices higher by 0.4% and 0.3% respectively. Conversely, the Banking index declined 0.2% due to price depreciation in FBNH (-2.7%) and ACCESS (-0.8%) while the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.6x from the 2.8x recorded in the previous session as 13 stocks gained relative to 22 losers. The top gainers were ROYALEX (+10.0%), BOCGAS (+10.0%) and MBENEFIT (+10.0%) while MOBIL (-8.0%), FIDSON (-7.7%) and JAPAULOIL (-7.4%) were top decliners. We expect to see gains in the next trading session as investors continue to seek bargain hunting opportunities.
Market Statistics for Tuesday, 9th June 2020
Market Cap (N’bn) | 13,216.3 |
Market Cap (US$’bn) | 36.7 |
NSE All-Share Index | 25,335.15 |
Daily Performance % | 0.3 |
WTD Performance % | 1.3 |
MTD Performance % | 0.3 |
QTD Performance % | 18.9 |
YTD Performance % | (5.6) |
Daily Volume (Million) | 268.7 |
Daily Value (N’bn) | 1.1 |
Daily Value (US$’m) | 3.1 |