Today, the All-Share index lost 9bps to close at 24,930.88 points due to price declines in MTNN (-0.9%), FLOURMILL (-6.7%) and FBNH (-1.9%). As a result, market capitalisation fell ₦12.2bn to settle at ₦13.0tn while YTD loss worsened to -7.1%. Activity level weakened as volume and value traded declined 15.7% and 1.5% respectively to 200.4m units and ₦1.6bn. The most active stocks by volume were FBNH (26.9m units), ZENITH (22.6m units) and FCMB (21.3m units) while ZENITH (₦368.5m), GUARANTY (₦272.0m) and MTNN (₦170.9m) led the value chart.
Performance across sectors was bearish as only the Industrial Goods index (+1.0%) appreciated as a result of gains in BUACEMENT (+1.6%). The Insurance (-2.1%) and Oil & Gas (-0.6%) indices led the laggards due to price weakness in AIICO (-9.4%), PRESTIGE (-9.5%), OANDO (-2.8%) and ARDOVA (-4.5%). The AFR-ICT (-0.5%) and Consumer Goods (-0.2%) indices also declined, following price declines in MTNN (-0.9%) and FLOURMILL (-6.7%). Lastly, the Banking index (-0.1%) declined on the back of losses in ZENITH (-0.6%) and FIDELITY (-1.1%).
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.5x from the 0.6x recorded in the previous session as 12 stocks advanced against 22 decliners. The best performing stocks were FIDSON (+10.0%), CAVERTON (+7.4%) and HONEYFLOUR (+6.9%) while NEIMETH (-9.9%), PRESTIGE (-9.5%) and CILEASING (-9.4%) lost the most. We expect profit-taking activities to dominate market performance this week.
Market Statistics for Tuesday, 16th June 2020
| Market Cap (N’bn) | 13,005.5 |
| Market Cap (US$’bn) | 36.1 |
| NSE All-Share Index | 24,930.88 |
| Daily Performance % | (0.1) |
| WTD Performance % | (1.0) |
| MTD Performance % | (1.3) |
| QTD Performance % | 17.0 |
| YTD Performance % | (7.1) |
| Daily Volume (Million) | 200.4 |
| Daily Value (N’bn) | 1.6 |
| Daily Value (US$’m) | 4.4 |
Source: Afrinvest
