In today’s trading session, price depreciation in MTNN (-10.0%), GUARANTY (-9.1%) and ZENITH (-10.0%) dragged the All-Share index down to 22,695.88 points. Consequently, investors lost ₦457.0bn as market capitalisation fell to ₦11.8tn while the YTD loss worsened to -15.4%. Activity level declined as volume and value traded fell 23.9% and 44.4% to 1.1bn units and ₦9.8bn respectively. The most actively traded stocks by volume were ZENITH (433.2m units), UBA (371.3m units) and GUARANTY (62.2m units) while ZENITH (₦4.7bn), UBA (₦2.1bn) and GUARANTY (₦1.1bn) led by value.
Performance across sectors was bearish as all indices under our coverage closed southward. The Banking index lost the most, down 8.5%, due to sell-offs in ZENITH (-10.0%), ACCESS (-9.3%) and GUARANTY (-9.1%). Likewise, the AFR-ICT (-5.3%) and Insurance (-5.2%) indices declined, following sell pressures in MTNN (-10.0%), MANSARD (-9.6%) and NEM (-8.6%). The Consumer and Industrial Goods indices trailed, down 2.7% and 0.9% respectively, on the back of price depreciation in NIGERIAN BREWERIES (-10.0%), FLOURMILL (-10.0%) and WAPCO (-9.7%). Lastly, a 10.0% decline in OANDO dragged the Oil & Gas index down by 0.8%.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.05x from the 0.9x recorded in yesterday’s trading session as only 2 stocks advanced against 44 decliners. The best performing stocks were CAVERTON (+10.0%) and STANBIC (+3.4%) while UPL (-10.0%), FLOURMILL (-10.0%) and NIGERIAN BREWERIES (-10.0%) led the laggards. We expect trading activities to close negative for the week.
Market Statistics for Thursday, 12th March 2020
| Market Cap (N’bn) | 11,827.4 |
| Market Cap (US$’bn) | 32.9 |
| NSE All-Share Index | 22,695.88 |
| Daily Performance % | (3.7) |
| WTD Performance % | (13.6) |
| MTD Performance % | (13.4) |
| QTD Performance % | (15.4) |
| YTD Performance % | (15.4) |
| Daily Volume (Million) | 1,058.9 |
| Daily Value (N’bn) | 9.8 |
| Daily Value (US$’m) | 27.2 |
