Profit taking in MTNN (-2.7%) and DANGCEM (-1.2%) dragged the All-Share Index down 1.2% to 29,633.58 points. Accordingly, YTD return slumped to 9.1% while market capitalisation dipped ₦180.8bn to ₦15.1tn. Activity level ended mixed as volume traded surged 91.5% to 666.8m units while value traded declined 23.8% to ₦6.5bn. The most active stocks by volume were UNIONDAC (340.2m units), ZENITH (69.7m units) and UBA (38.8m units) while MTNN (₦1.5bn), ZENITH (₦1.5bn) and DANGCEM (₦848.5m) led by value.
Performance across sectors was bearish as all indices lost. The Insurance and Consumer Goods indices waned 2.0% and 1.7% respectively following sell-offs in NEM (-9.7%), CHIPLC (-9.5%) and NIGERIAN BREWERIES (-8.8%). Losses in MTNN (-2.7%), UBA (-5.2%) and ZENITH (-1.8%) pulled the AFR-ICT (-1.6%) and Banking (-1.1%) indices southward. Also, the Industrial Goods and Oil & Gas indices pared 0.3% and 0.2% respectively following price depreciation in DANGCEM (-1.2%) and OANDO (-3.8%).
Investor sentiment as measured by market breadth (advance/decline ratio) waned to 0.6x from the 0.7x recorded yesterday as 13 stocks gained relative to 23 losers. The best performing stocks were BETAGLAS (+9.7%), CILEASING (+8.9%) and EKOCORP (+7.2%) while TOURIST (-10.0%), NEM (-9.7%) and NPFMCRFBK (-9.6%) were the top losers. We anticipate a mixed performance in the interim due to profit taking.
Market Statistics for Tuesday, 14th January 2020
| Market Cap (N’bn) | 15,106.3 |
| Market Cap (US$’bn) | 42.0 |
| NSE All-Share Index | 29,283.15 |
| Daily Performance % | 1.2 |
| W/W Performance % | 6.1 |
| MTD Performance % | 9.1 |
| QTD Performance % | 9.1 |
| YTD Performance % | 9.1 |
| Daily Volume (Million) | 666.8 |
| Daily Value (N’bn) | 6.5 |
| Daily Value (US$’m) | 18.1 |
Source: Afrinvest
