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 |
