The lStock Market opened the week on a positive note as the benchmark index advanced 1.9 per cent to close at 34,652.52 points on the back of gains in DANGCEM (+5.0%) and value banking stocks – ACCESS (+4.5%), UBA (+3.6%), STANBIC (+3.1%) and ZENITH (+1.3%). Accordingly, Year-to-date return climbed to 28.9 per cent. Investors added N217.8 billion as market capitalisation settled at N11.9 trillion. However, market activity waned as volume and value traded slid 22.3 per cent and 22.8 per cent to close at 293.8 million units and N3.9 billion respectively.
Mixed Market Performance
Performance was mixed across the sectors as 3 of 5 indices trended upward. The Industrial Goods index topped gainer’s chart, appreciating 2.5 per cent due to sustained buying interest in DANGCEM (+5.0%) and JBERGER (+5.0%). The Banking index trailed, up 1.1 per cent on account of gains in ACCESS (+4.5%) and UBA (+3.6%) while the Oil & Gas index added 0.1 per cent bouyed by appreciation in OANDO (+1.5%). On the flip side, the Consumer Goods index fell 0.5 per cent due to sell-offs in NESTLE (-1.7%) and PZ (-2.7%). Similarly, the Insurance index sustained its negative performance from last week, down 0.4 per cent owing to losses in MANSARD (-1.5%) and AIICO (-5.0%).
Investor sentiment remains flat
Investor sentiment stayed flat today as market breadth (advancers/decliners’ ratio) remained at 1.0x (Friday’s close of 1.0x). 20 stocks advanced while 20 declined. The top gainers were TRANSCORP (+8.1%), DANGCEM (+5.0%) and JBERGER (+5.0%) while AIICO (-5.0%), VITAFOAM (-4.9%) and MORISON (-4.8%) led the decliners’ chart. We expect performance to remain upbeat in subsequent trading sessions as we continue to see more positive H1: 2017 earnings scorecards.
Market Statistics Monday, 24th July 2017
Market Cap (N’bn) 11,943.0
Market Cap (US$’bn) 39.1
NSE All-Share Index 34,652.52
Daily Performance % 1.9
Week Performance % 4.1
YTD Performance % 28.9
Daily Volume (Million) 293.8
Daily Value (N’bn) 3.9
Daily Value (US$’m) 12.9
