At the end of today’s trading session, the benchmark index shed 1.5% to close at 34,414.37 points as investors booked profit in DANGCEM (-3.0%), ZENITH (+2.3%), GUARANTY (+1.5%) and SEPLAT (-7.3%). Consequently, YTD loss worsened to -10.0% while market capitalization decreased by N190.5bn to N12.6tn. Similarly, activity level waned as volume and value traded fell 16.7% and 40.0% to 200.3m units and N2.2bn respectively. The top traded stocks by volume were UBA (22.5m), STANBIC (19.3m) and FCMB (19.1m) while STANBIC (N904.2m), GUARANTY (N268.2m) and SEPLAT (N260.8m) led by value.
Sector performance was bearish as 4 of 5 indices we track closed in the red. The Consumer Goods index emerged the lone gainer, up 0.3% due to buying interest in INTBREW (+3.1%) and NIGERIAN BREWERIES (+0.5%). On the flip side, losses in SEPLAT (-7.3%), DANGCEM (-3.0%) and WAPCO (-1.9%) dragged the Oil & Gas and Industrial Goods indices 3.2% and 2.3% lower respectively. In the same vein, the Insurance and Banking indices declined, down 1.6% and 1.2% respectively following profit taking in AIICO (-9.1%) LAWUNION (-9.6%), ZENITH (-2.1%) and GUARANTY (-1.1%).
Investor sentiment as measured by market breadth (advance/decline ratio) softened to 0.8x from 1.3x recorded the previous day as 20 stocks advanced against 26 that declined. The best performing stocks were CILEASING (+9.9%), HMARKINS (+8.6%) and JAIZ (+8.2%) while MBENEFIT (-10.0%), LEARNAFRCA (-9.8%) and CHAMS (-9.7%) were the worst performing for the day. Going forward, we believe market performance will remain largely bearish as sentiments remain soft.
Market Statistics Wednesday, 5th September 2018
Market Cap (N’bn) 12,563.9
Market Cap (US$’bn) 41.0
NSE All-Share Index 34,414.37
Daily Performance % (1.5)
Week Performance % (2.7)
YTD Performance % (10.0)
Daily Volume (Million) 200.3
Daily Value (N’bn) 2.2
Daily Value (US$’m) 7.1
