Today, sell-offs persisted in the local bourse as the All-Share Index slipped 33bps to settle at 25,497.32 points following sell-pressures in Banking stocks: GUARANTY (-6.2%), ZENITH (-2.3%) and UBN (-3.9%). Accordingly, market capitalisation fell by ₦44.3bn to ₦13.3tn while YTD loss worsened to -5.0%. Activity level varied as volume traded declined 0.8% to 252.0m units while value traded advanced 0.8% to ₦2.0bn. The most traded stocks by volume were CUSTODIAN (40.1m units), FBNH (28.2m units) and ZENITH (26.0m units) while ZENITH (₦444.8m), GUARANTY (₦206.6m) and CUSTODIAN (₦192.7m) led by value.
Performance was bullish across sectors as 5 of 6 indicators that we track gained, The Banking index closed south by 3.4%, dragged by price declines in GUARANTY (-6.2%), ZENITH (-2.3%) and UBN (-3.9%). On the other hand, the AFR-ICT and Consumer Goods indices closed higher by 0.4% apiece due to buying interest in MTNN (+0.8%), NIGERIAN BREWERIES (+2.5%) and HONYFLOUR (+4.4%). In the same vein, the Insurance and Oil & Gas indices advanced 0.3% and 0.2% respectively, buoyed by gains in WAPIC (+3.0%) and OANDO (+1bps). Lastly, price appreciation in CAP (+2.7%) lifted the Industrial Goods index by 1bps.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.5x from the 1.1x recorded previously as 10 stocks gained against the 19 that declined. The top gainers were HONYFLOUR (+4.4%), TRANSCORP (+3.4%) and WAPIC (+3.0%) while ARBICO (-9.6%), ROYALEX (-9.1%) and GUARANTY (-6.2%) lost the most. We expect investors to take positions in fundamentally sound stocks in the subsequent trading session.
Market Statistics for Tuesday, 8th September 2020
| Market Cap (N’bn) | 13,301.6 |
| Market Cap (US$’bn) | 34.5 |
| NSE All-Share Index | 25,497.32 |
| Daily Performance % | (0.3) |
| WTD Performance % | (0.4) |
| MTD Performance % | 0.7 |
| QTD Performance % | 3.3 |
| YTD Performance % | (5.0) |
| Daily Volume (Million) | 252.0 |
| Daily Value (N’bn) | 2.0 |
| Daily Value (US$’m) | 5.2 |
