At the close of trade, the domestic equities market posted a loss as the All-Share Index fell marginally by 3bps to settle at 25,597.96 points due to price declines in FBNH (-2.0%), SEPLAT (-1.3%) and DANGSUGAR (-1.2%). Consequently, market capitalisation fell to ₦13.4tn as investors lost ₦4.0bn while YTD loss settled at -4.6%. Activity level waned as volume and value traded decreased 4.6% and 9.3% respectively to 245.1m units and ₦3.0bn. The most traded stocks by volume were FBNH (51.4m units), GUARANTY (46.3m units) and ZENITH (18.8m units) while GUARANTY (₦1.2bn), STANBIC (₦630.0m) and ZENITH (₦322.4m) led by value.
Sector performance was mixed albeit negatively skewed as 3 of the 6 indices under our coverage closed southward. The Oil & Gas and Banking indices led laggards, down 1.2% and 0.2% respectively following sell-offs in SEPLAT (-1.3%), OANDO (-5.5%), FBNH (-2.0%) and UBA (-0.8%). Similarly, the Consumer Goods index fell 0.1% due to price depreciation in DANGSUGAR (-1.2%). On the other hand, the Insurance and Industrial Goods indices were the gainers, up 0.4% and 0.2% respectively due to price upticks in CORNERSTONE (+6.5%), WAPCO (+3.5%), and CAP (+1.2%). Finally, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.9x from the 1.1x recorded previously as 13 stocks gained against the 15 that lost. The top gainers were IKEJAHOTEL (+9.5%), UAC-PROP (+9.2%) and CORNERSTONE (+6.5%) while NPFMCRFBK (-9.4%), UNIONDAC (-7.4%) and REDSTAREX (-6.1%) lost the most. As investors trade the equities market cautiously, we expect to see a slightly bearish performance during the week as a result of sustained profit-taking.
Market Statistics for Tuesday, 15th September 2020
|Market Cap (N’bn)||13,354.1|
|Market Cap (US$’bn)||34.6|
|NSE All-Share Index||25,597.96|
|Daily Performance %||0.03|
|WTD Performance %||0.02|
|MTD Performance %||1.1|
|QTD Performance %||4.6|
|YTD Performance %||(4.6)|
|Daily Volume (Million)||245.1|
|Daily Value (N’bn)||3.0|
|Daily Value (US$’m)||7.8|