The All-Share Index lost 3bps to 27,033.10 points following sell pressures in NIGERIA BREWERIES (-2.1%), GUARANTY (-0.4%) and ZENITH (-0.3%). Accordingly, market capitalisation fell ₦4.1bn to ₦14.1tn while YTD return remained at 0.7%. Activity level declined as volume and value traded dipped 43.7% and 51.3% to 241.7m units and ₦3.6bn respectively. The most active stocks by volume were ZENITH (43.3m units), GUARANTY (38.7m units) and UBA (28.9m units) while GUARANTY (₦1.0bn), ZENITH (₦827.2m) and NESTLE (₦657.3m) led by value.
Performance was mixed across sectors although negatively skewed. The Oil & Gas, AFR-ICT and Industrial Goods indices were flat while the Banking index gained 0.1% due to buying interest in ACCESS (+2.3%) and ETI (+1.6%). Meanwhile, the Insurance index (-2.0%) sustained yesterday’s downtrend as investors exited AIICO (-9.4%) and NEM (-3.9%). Similarly, the Consumer Goods index dipped 0.4% on the back of losses in NIGERIA BREWERIES (-2.1%) and CHAMPION (-8.0%).
Investor sentiment as measured by market breadth (advance/decline ratio) advanced to 0.4x from the 0.2x recorded yesterday as 8 stocks advanced relative to 20 losers. The best performers were LAWUNION (+10.0%), CADBURY (+9.8%) and AFRIPRUD (+4.3%) while NPFMCRFBK (-9.7%), AIICO (-9.4%) and LINKASSURE (-8.9%) led the worst performers. Although there are opportunities for bargain hunting, investors’ risk-off approach is expected to dampen performance in the market.
Corporate Action
Africa Prudential Plc declared final dividend of 70 Kobo per share representing a 3.5% dividend yield (2/25/2020). The closure date is between 9th of March, 2020 and 13th March, 2020 while qualification date is 6th March, 2020 and payment would be made on 23rd March, 2020.
Market Statistics for Tuesday, 25th February 2020
| Market Cap (N’bn) | 14,083.0 |
| Market Cap (US$’bn) | 39.1 |
| NSE All-Share Index | 27,033.10 |
| Daily Performance % | 0.0 |
| WTD Performance % | (1.3) |
| MTD Performance % | (6.3) |
| QTD Performance % | 0.7 |
| YTD Performance % | 0.7 |
| Daily Volume (Million) | 241.7 |
| Daily Value (N’bn) | 3.6 |
| Daily Value (US$’m) | 9.9 |
Source: Afrinvest
