The Nigerian Stock Exchange (NSE) crucial market indices opened trading for the week following price appreciation in DANGCEM (+1.4%), ACCESS (+4.3%) and UBA (+6.1%). Market capitalisation grew by N76.7 billion to N12.8 trillion as YTD loss eased to -15.1 per cent. Activity level improved as volume and value traded advanced 9.8 per cent and 43.2 per cent to 170.5 million units and N2.1 billion respectively. In terms of trading activity, the banking stocks; ACCESS (41.2m units), UBA (29.2m units) and ZENITH (25.6m units) led the volume chart while ZENITH (N479.8m), ACCESS (N396.9m) and GUARANTY (N332.9m) led the value chart.
Performance across sectors was bullish as all indices under our coverage advanced save the AFR-ICT index that closed flat. The Banking index led the pack, up 1.6% due to gains in ACCESS (+4.3%) UBA (+9.4%) and GUARANTY (+1.1%). The Industrial and Consumer Goods indices trailed, rising 1.0% and 0.4% respectively on the back of buying interest in DANGCEM (+1.4%), WAPCO (+1.8%), GUINNESS (+9.8%) and PZ (+9.5%). Finally, the Insurance and Oil & Gas indices rose 0.3% and 0.1% respectively following price appreciation in NEM (+2.6%) and OANDO (+0.8%). Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 2.1x from the 1.7x recorded in the previous session with 17 stocks advancing against 8 that declined. GUINNESS (+9.8%), PZ (+9.5%) and AGLEVENT (+7.7%) were the best performing stocks while CORNERSTONE (-9.1%), NEIMETH (-9.1%) and UPL (-8.3%) led laggards. Despite today’s performance, we are not optimistic of a sustainable rebound in the equities market in the near term.
Market breadth closed positive with 17 gainers’ and eight losers. Guinness led the gainers’ table during the day, gaining N2.90 to close at N32.40 per share. Dangote Cement came second with a gain of N2 to close at N142, while PZ Cusson garnered 50k to close at N5.57 per share. United Bank for Africa appreciated by 40k to close at N7, while Access Bank also rose by 40k to close at N9.80 per share. Conversely, FBN Holdings recorded the highest loss to lead the losers’ table, dropping by 25k to close at N6.25 per share. UACN trailed with a loss of 15k to close at N8.75, while UPL dipped 11k to close at N1.21 per share. Neimeith was down by 6k to close at 60k and Cornerstone also declined by 6k to close at 60k per share.
In the same vein, the volume of shares transacted grew by 9.77 per cent with an exchange of 170.52 million shares worth N2.05 billion in 2,700 deals. This was in contrast with a total of 155.35 million shares valued at N1.43 billion achieved in 2,773 deals on Friday. Transactions in the shares of Access Bank topped the activity chart with 41.16 million shares worth N396.95 million. UBA followed with 29.24 million shares valued at N201.96 million, while Zenith bank traded 25.59 million shares worth N479.81 million. Guaranty Trust Bank sold 11.32 million shares valued at N332.86 billion, while Transcorp transacted 10.05 million shares worth N9.88 million.
| Market Cap (N’bn) | 12,884.5 |
| Market Cap (US$’bn) | 35.8 |
| NSE All-Share Index | 26,695.18 |
| Daily Performance % | 0.6 |
| 1 Week Performance % | 0.1 |
| MTD Performance % | (1.1) |
| QTD Performance % | (3.4) |
| YTD Performance % | (15.1) |
| Daily Volume (Million) | 170.5 |
| Daily Value (N’bn) | 2.1 |
| Daily Value (US$’m) | 5.7 |
