The domestic equities market closed flat in today’s trading session as the benchmark index stood at 28,659.07 points while market capitalisation and YTD return remained unchanged at ₦15.0tn and 6.8% respectively. Activity level waned as volume and value traded declined 41.3% and 28.0% to 287.3m units and ₦3.4bn respectively. The most traded stocks by volume were ZENITH (43.0m units), UBA (41.8m units) and FBNH (32.8m units) while ZENITH (₦905.4m), GUARANTY (₦822.3m) and UBA (₦299.1m) led by value.
Performance across sectors was mixed as 3 of 6 indices under our coverage gained, 2 lost while the AFR-ICT index closed flat. The Insurance and Consumer Goods indices appreciated, up 1.1% and 0.9% respectively following gains in AIICO (+6.0%), NEM (+3.0%), INTBREW (+9.9%) and GUINNESS (+4.8%). Similarly, the Oil & Gas index gained 0.5% due to price appreciation in CONOIL (+9.7%) and ARDOVA (+5.8%). On the flip side, losses in ZENITH (-2.6%), UBA (-1.4%) and WAPCO (-1.9%) dragged the Banking and Industrial Goods indices lower by 0.3% and 0.1% respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 1.1x from the 2.7x recorded previously as 19 stocks gained against the 18 that declined. INTBREW (+9.9%), IKEJAHOTEL (+9.9%) and CUTIX (+9.9%) were top gainers while ETERNA (-9.0%), MAYBAKER (-7.7%) and ACADEMY (-6.9%) led the underperformers. We are not optimistic of bullish performance in subsequent trading sessions due to weak investor sentiment. However, investors may position in sound stocks ahead of Q3 earnings releases.
Corporate Action
11plc (formerly Mobil Oil Nigeria Plc) held its Annual General Meeting and declared a dividend per share of 825kobo per share. The Company’s shareholders also approved the voluntary delisting of 11plc from the Nigerian Stock Exchange.
Market Statistics for Monday, 19th September 2020
| Market Cap (N’bn) | 14,979.63 |
| Market Cap (US$’bn) | 38.8 |
| NSE All-Share Index | 28,659.07 |
| Daily Performance % | 0.0 |
| WTD Performance % | 0.0 |
| MTD Performance % | 6.8 |
| QTD Performance % | 6.8 |
| YTD Performance % | 6.8 |
| Daily Volume (Million) | 287.3 |
| Daily Value (N’bn) | 3.4 |
| Daily Value (US$’m) | 8.8 |
Source: Afrinvest
