Sell-offs in DANGCEM (-4.1%), ACCESS (-0.8%) and MANSARD (-8.2%) dragged the All-Share Index down 58bps to close at 24,883.70 points. Thus, market capitalisation fell ₦75.1bn to ₦13.0tn while YTD loss settled at 7.3%. Activity level improved as volume and value traded appreciated 17.5% and 73.6% to 206.0m units and ₦2.5bn respectively. The top traded stocks by volume were ACCESS (29.2m units), FIDELITY (27.8m units) and GUARANTY (25.3m units) while GUARANTY (₦625.6m), DANGCEM (₦368.5m) and ZENITH (₦257.8m) led by value.
Across sectors under our coverage, performance was mixed as 3 indices gained, 2 lost while the AFR-ICT index closed flat. The Banking and Consumer Goods indices advanced 0.5% and 1.0% respectively due to buying interest in GUARANTY (+1.0%), ETI (+2.5%), NIGERIAN BREWERIES (+6.3%) and CADBURY (+6.8%). Also, the Oil & Gas index gained 0.3% following price accretion in ARDOVA (+4.9%). Meanwhile, losses in MANSARD (-8.2%), CHIPLC (-9.8%), DANGCEM (-4.1%) and WAPCO (-0.4%) led to a 2.5% and 2.2% decline in the Insurance and Industrial Goods indices respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) waned to 0.9x from the 1.6x recorded previously as 16 stocks gained against the 17 decliners. The top gainers were CADBURY (+6.8%), NIGERIAN BREWERIES (+6.3%) and MBENEFIT (+5.0%) while PRESTIGE (-10.0%), IKEJAHOTEL (-9.8%) and CHIPLC (-9.8%) lost the most. We expect mixed performance in subsequent trading sessions as low stock prices presents bargain hunting opportunities.
Market Statistics for Tuesday, 11th August 2020
| Market Cap (N’bn) | 12,980.8 |
| Market Cap (US$’bn) | 33.6 |
| NSE All-Share Index | 24,883.70 |
| Daily Performance % | (0.6) |
| WTD Performance % | (0.6) |
| MTD Performance % | 0.8 |
| QTD Performance % | 1.7 |
| YTD Performance % | (7.3) |
| Daily Volume (Million) | 206.0 |
| Daily Value (N’bn) | 2.5 |
| Daily Value (US$’m) | 6.4 |
