Price appreciation in ACCESS (+1.6%), UBA (+1.3%) and UBN (+1.4%) moved the All-Share Index up 2bps to 27,874.43 points. Consequently, YTD return rose to 3.9% and market capitalisation increased ₦1.3 billion to ₦14.5 trillion. Activity level waned as volume and value traded declined 44.9 per cent and 34.3 per cent to 152.3 million units and ₦2.4 billion respectively. In terms of volume, the banking tickers – GUARANTY (46.0m units), ZENITH (20.7m units) and UBA (11.9m units) led while GUARANTY (₦1.3bn), ZENITH (₦414.2m) and MTNN (₦150.4m) led by value.
Across the sectors under our coverage, 1 gained, 2 lost and 3 closed flat. The Banking index emerged the lone gainer, appreciating 37bps due to gains in ACCESS (+1.6%), UBA (+1.3%) and UBN (+1.4%). On the other hand, the Insurance and Consumer Goods indices declined 34bps and 33bps respectively on the back of losses in WAPIC (-5.7%), GUINNESS (-7.3%) and FLOURMILL (-1.3%). Finally, the Oil & Gas, Industrial Goods and AFR-ICT indices closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) remain unchanged at 0.8x as 13 stocks advanced relative to 17 decliners. CILEASIN (+9.1%), AFRIPRUD (+2.2%) and UACN (+2.2%) led the gainers while ROYALEX (-8.0%), JAPAULOIL (-7.7%) and GUINNESS (-7.3%) led the laggards. Despite today’s slight gain, we maintain a bearish outlook on the market due to waning investor sentiment.
Today’s Corporate Actions
Prestige Assurance Plc notified the investing public of its board meeting scheduled to hold on February 27, 2020 and the resultant ‘closed’ period to begin February 13, 2020 until 24hours after the release of the audited financial statements.
Nestle Plc notified the investing public of board meeting scheduled to hold on February 28, 2020 to consider the drafted audited statements for the year ended December 31, 2019. Transcorp Group announced the appointment of new executive and non-executive board members. Owen Omogiafo – President/GCEO of Transcorp Nigeria Plc, Dupe Olusola – MD/CEO of Transcorp Hotels Plc, Helen Iwuchukwu as Executive Director/Chief Operating Officer of Transcorp Hotels Plc, Christopher Ezeafulukwe as MD/CEO of Transcorp Power Ltd and Okaima Ohizua as Executive Director of Transcorp Power Ltd.
Market Statistics for Wednesday, 12th February 2020
| Market Cap (N’bn) | 14,517.6 |
| Market Cap (US$’bn) | 40.3 |
| NSE All-Share Index | 27,878.43 |
| Daily Performance % | 0.0 |
| WTD Performance % | (0.7) |
| MTD Performance % | (3.3) |
| QTD Performance % | 3.9 |
| YTD Performance % | 3.9 |
| Daily Volume (Million) | 152.3 |
| Daily Value (N’bn) | 2.4 |
| Daily Value (US$’m) | 6.8 |
Source: Afrinvest
