Market Cap (N’bn) 6,255.04
Market Cap (US$’bn) 38.66
NSE All-Share Index 19,785.03
Daily Performance % 0.27
1 Week Performance % (0.89)
YTD Performance % (20.13)
Daily Volume (Million) 247.48
Daily Value (N’bn) 2.32
Daily Value (US$’m) 14.33
The Nigerian Stock Exchange All-Share Index gained 27 basic points on Friday. FCMB, Fidelity Bank and Access Bank led gained 3.5 per cent, 1.7 per cent and 0.9 per cent respectively. Top tier banks, First Bank and UBA however lost marginal points, while Zenith Bank closed flat, reverting to its previous price after an initial surge during the session. It is likely to hover around this level in coming sessions. In the food and beverages sector, Cadbury rallied with a 4.9 per cent gain, while demand for Dangote Sugar led to a 2.3 per cent gain, though glutting offers at N4.50 could limit future appreciation.
On the flip side, Honeywell Flour lost 4.9 per cent and closing sentiments suggest that it could lose more points in the near future. In the petroleum marketing sector, profit taking and a crossed deal trimmed off maximum points from Forte Oil, a trend that is likely to continue next week. On the flip side, re-entries at current levels led to a 4.0 per cent mark-up for Oando, while Eterna Oil consolidated on previous gains with a 4.9 per cent gain.
Over all the NSE All-Share index lost 89 basic points cumulatively this week, while a 27 bps gain on Friday clawed back some of the week’s losses. The banking sector remained predominantly bearish this week, with cautious entries by participants. Banks that were divergent from this trend were buoyed by a dearth of offers during the week. FCMB and Wema Bank recorded cumulative gains of 8.5 per cent and 1.8 per cent respectively. Zenith Bank also inched up with less than 1.0 per cent, though current support appears to be around N11.45. The breweries sector was divergent to bearish sentiments in the market, with both NB and Guinness booking cumulative gains of 4.3 per cent and 5.4 per cent respectively. Current robust bids are likely to sustain this trend next week. In the conglomerates sector, UACN closed on the up-tick, bagging a cumulative 2.2 per cent gain. Unilever continued to hold steady at N26.00, while Transcorp and PZ Cussons shed 7.0 per cent and 0.2 per cent respectively.
