At the Nigerian Stock Market trading session, the All Share Index advanced 69bps to settle at 33,191.45 points on account of buy interests in blue chips companies – DANGCEM (+2.1%), NESTLE (+2.2%) and FBNH (+4.3%). Similarly, market capitalisation rose by N83.5 billion to N12.1 trillion while YTD loss moderated to -13.0 per cent. However, activity level weakened as average volume and value traded dipped 39.3 per cent and 110.6 per cent to 185.1million units and N2.4 billion respectively. The top traded stocks by volume were FCMB (27.6m units), TRANSCORP (24.9m units) and GUARANTY (15.2m units) while GUARANTY (N553.9m), ZENITH (N318.8m) and NESTLE (N299.7m) led the top traded stocks by value.
Performance across sectors largely bullish as 3 of 5 indices under our coverage trended upwards. The Industrial Goods and Consumer Goods indices advanced the most, up 0.9 per cent and 0.2 per cent respectively on the back of gains in DANGCEM (+2.1%), NESTLE (+2.2%) and DANGFLOUR (+2.7%) while the Oil & Gas index rose by 0.1 per cent as a result of buy interests in OANDO (+0.9%). On the flip side, the Insurance index declined by 0.7 per cent, following losses in NIGERINS (-7.1%) and NEM (-4.0%) while the Banking index shed 0.6 per cent on account of sell-offs in ETI (-5.0%) and UBA (-1.2%).
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.8x from 1.1x recorded in the previous trading session as 14 stocks appreciated against 18 decliners. TRANSCORP (+9.6%), HONEYFLOUR (+4.4%) and FBNH (+4.3%) were the best performing stocks while FIRSTALU (-9.1%), PZ (-7.7%) and MCNICHOLS (-7.4%) led laggards. On the back of the Q3 corporate earnings releases, we anticipate a bullish run in the equities market in the near term.
Market Statistics Tuesday, 23rd October 2018
Market Cap (N’bn) 12,117.4
Market Cap (US$’bn) 39.6
NSE All-Share Index 33,191.45
Daily Performance % 0.7
Week Performance % 1.4
YTD Performance % (13.2)
Daily Volume (Million) 185.1
Daily Value (N’bn) 2.4
Daily Value (US$’m) 7.7
