At the close of trade, the equities market posted a negative performance as profit-taking in DANGCEM (-0.6%), ACCESS (-2.3%) and ZENITH (-0.6%) pulled the benchmark index down 10bps to settle at 25,304.25 points. As a result, investors lost ₦13.5bn as market capitalisation declined to ₦13.2tn while YTD loss worsened to -5.7%. Activity level improved as volume and value traded rose 39.0% and 16.5% to 251.3m units and ₦1.8bn respectively. The top traded stocks by volume were UACN (111.9m units), UBA (25.0m units) and FBNH (20.9m units) while UACN (₦643.2m), UBA (₦159.5m) and ZENITH (₦125.7m) led by value.
Performance across sectors was mixed as 2 indices under our coverage lost, 2 gained while 2 closed flat. The Industrial Goods and Banking indices closed negative, down 37bps and 33bps respectively due to profit-taking in DANGCEM (-0.6%), WAPCO (-1.3%), ACCESS (-2.3%) and ZENITH (-0.6%). On the flip side, the Insurance and Consumer Goods indices rose 64bps and 52bps respectively following price upticks in MANSARD (+6.4%), NIGERIAN BREWERIES (+2.8%) and GUINNESS (+0.7%). Lastly, the Oil & Gas and AFR-ICT indices closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.6x from the 3.0x recorded previously as 11 stocks gained against the 19 that declined. The top gainers were MAYBAKER (+9.9%), UPL (+9.4%) and MANSARD (+6.4%) while CHIPLC (-8.1%), FIDSON (-7.2%) and LASACO (-6.1%) lost the most. We expect the equities market to close the week on a bullish note.
Market Statistics for Thursday, 27th August 2020
| Market Cap (N’bn) | 13,201.0 |
| Market Cap (US$’bn) | 34.2 |
| NSE All-Share Index | 25,304.25 |
| Daily Performance % | (0.1) |
| WTD Performance % | 0.3 |
| MTD Performance % | 2.5 |
| QTD Performance % | 3.4 |
| YTD Performance % | (5.7) |
| Daily Volume (Million) | 251.3 |
| Daily Value (N’bn) | 1.6 |
| Daily Value (US$’m) | 4.1 |
Source: Afrinvest
