Price appreciation in GUARANTY (+3.1%), ZENITH (+4.1%) and ACCESS (+4.3%) drove the All-Share Index up 17bps to 28,140.41 points. Consequently, YTD return improved to 4.8% while market capitalisation rose ₦174.4bn to ₦14.5tn. Activity level weakened as volume and value traded fell 9.4% and 19.9% to 317.2m units and ₦3.4bn respectively. The most active stocks by volume were FBNH (57.3m units), FCMB (43.2m units) and ZENITH (34.3m units) while NIGERIAN BREWERIES (₦1.2bn), ZENITH (₦705.5m) and FBNH (₦345.6m) led by value.
Across sectors, performane was mixed as 3 of 6 indices under our coverage gained. The Banking and Insurance indices led gainers, up 354bps and 11bps, due to buy interest in GUARANTY (+3.1%), ZENITH (+4.1%) and LAWUNION (+9.8%). Similarly, the Oil & Gas (+7bps) index trailed, on the back of gains in OANDO (+0.6%). Conversely, the Industrial Goods (-187bps) index declined the most, due to price depreciation in BUACEMENT (-3.3%). Also, losses in NASCON (-3.7%), INTBREW (-1.1%) and MTNN (-1.2%) dragged the AFR-ICT and Consumer Goods indices down 68bps and 12bps respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) improved to 1.4x from the 0.9x recorded in the previous trading session as 20 stocks advanced relative to 14 decliners. The best performers were LAWUNION (+9.8%), WEMA (+7.6%) and NACHO (+7.3%) while CILEASING (-9.8%), DAARCOMM (-8.3%) and AFRIPRUD (-9.9%) led the laggards. We expect the bearish sentiment to persist for the rest of the week. However, we note that there are opportunities for bargain hunting.
PZ Cussons Nigeria Plc announced the resignation of Mr. Pedro Barreto, as Chief Financial Officer (CFO) of the company effective from 31st March 2020. Meanwhile, Mr. Zuber Momoniat was appointed the new CFO of the company effcetive from 1st April 2020.
Highlights of Some Corporate Earnings Disclosures Announced Today:
AXA MANSARD Insurance PLC (Unaudited FY:2019): Revenue increased 28.6% Y-o-Y to ₦46.6bn; profit after tax (PAT) improved 7.7% Y-o-Y to ₦2.8bn.
C & I LEASING PLC (Unaudited FY:2019): Revenue rose 29.4% Y-o-Y to ₦35.9bn; profit after tax (PAT) surged 49.4% Y-o-Y to ₦1.7bn.
MRS OIL PLC (Unaudited FY:2019): Revenue fell 27.8% Y-o-Y to ₦64.8bn; loss after tax (PAT) eased to ₦1.1bn from ₦1.2bn in 2019.
LIVESTOCK FEEDS PLC (Unaudited FY:2019): Revenue rose 26.9% Y-o-Y to ₦9.9bn; profit after tax (PAT) improved to ₦34.7bn from – ₦620.3m.
Market Statistics for Thursday, 6th February 2020
| Market Cap (N’bn) | 14,497.3 |
| Market Cap (US$’bn) | 40.3 |
| NSE All-Share Index | 28,140.41 |
| Daily Performance % | 0.2 |
| WTD Performance % | (2.4) |
| MTD Performance % | (2.4) |
| QTD Performance % | 4.8 |
| YTD Performance % | 4.8 |
| Daily Volume (Million) | 317.2 |
| Daily Value (N’bn) | 3.4 |
| Daily Value (US$’m) | 9.5 |
Source: Afrinvest
