Today, the equities market sustained its bullish streak, closing 103bps higher to close at 24,452.23 points following buying interest in DANGCEM (+1.7%), ZENITH (+4.1%) and BUACEMENT (+1.9%). Consequently, investors value appreciated ₦130.0bn to ₦12.7tn while YTD loss improved to -8.9%. Activity level advanced as volume and value traded rose 31.1% and 37.1% to 427.0m units and ₦5.3bn respectively. The most active stocks by volume were ZENITH (75.1m units) ACCESS (50.8m units), and GUINESS (34.2m units) while ZENITH (₦1.2bn), DANGCEM (₦972.4m) and GUARANTY (₦740.9m) led the value chart.
Performance was bullish as all indices under our coverage advanced save AFR-ICT index which closed flat. The Banking (+2.8%) and Insurance (+1.7%) indices led the gainers as a result of price appreciation in ZENITH (+4.1%), GUARANTY (+2.4%), AIICO (+4.2%) and WAPIC (+6.9%). Furthermore, gains in DANGCEM (+1.7%), BUACEMENT (+1.9%) and OANDO (+1.1%) saw the Industrial Goods (+1.3%) and Oil & Gas (+0.1%) indices close in the positive region. Lastly, the Consumer Goods index advanced 0.1%, on the back of price upticks in DANGSUGAR (+0.4%) and CADBURY (+1.3%).
Investor sentiment as measured by market breadth (advance/decline ratio) surged to 7.4x from the 3.6x recorded in the previous session as 37 stocks gained relative to 5 losers. The top gainers were REDSTAREX (+10.0%), JAIZBANK (+9.1%) and LASACO (+8.7%) while UNITYBNK (-3.8%), UNIONDAC (-3.2%) and WAPCO (-2.7%) were top decliners. We expect profit taking in the next trading session.
Market Statistics for Wednesday, 20th May 2020
| Market Cap (N’bn) | 12,743.4 |
| Market Cap (US$’bn) | 34.6 |
| NSE All-Share Index | 24,452.23 |
| Daily Performance % | 1.0 |
| One Week Performance % | 0.0 |
| MTD Performance % | 3.7 |
| QTD Performance % | 12.1 |
| YTD Performance % | (8.9) |
| Daily Volume (Million) | 427.0 |
| Daily Value (N’bn) | 5.3 |
| Daily Value (US$’m) | 6.8 |
Source: Afrinvest
