Losses in three stocks, that of Access Bank, First Bank Holding and Guaranty Bank At the close of trade, in the Nigerian Stock Exchange l dragged the All-Share Index (ASI) down 9bps to 26,913.70 points while YTD loss worsened to -14.4%. Thus, market capitalisation fell N12.0bn to N12.9tn. Activity level strengthened as volume and value traded rose 83.1% and 164.2% to 206.7m units and N2.8bn respectively. The top traded stocks by volume were UACN (40.2m units), ACCESS (28.3m units) and GUARANTY (27.7m units) while GUARANTY (N837.7m), ZENITH (N484.6m) and NIGERIAN BREWERIES (N435.3m) led the value chart.
Sector performance was bearish as 3 of 6 indices under our coverage closed negative while the AFR-ICT index remained flat. The Consumer and Industrial Goods indices gained 3.8% and 1bps respectively, following buying interest in DANGSUGAR (+5.9%), NIGERIAN BREWERIES (+9.2%) and CUTIX (+4.1%). Conversely, sell pressures in MANSARD (-8.3%), WAPIC (-7.7%) and LAWUNION (-7.7%) dragged the Insurance index down 2.5%. Likewise, the Banking and Oil & Gas indices closed southward, down 70bps and 3bps respectively, due to declines in ACCESS (-2.7%), FBNH (-2.2%), GUARANTY (-9.1%) and OANDO (-0.3%).
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.4x from 1.2x recorded from the previous trading session as 8 stocks advanced against 19 decliners. The best performing stocks were CHAMS (+9.9%), UNIONDAC (+9.2%) and DANGSUGAR (+8.6%) while CORNERSTONE (-9.1%), MEDVIEWAIR (-8.7%) and ARBICO (-8.5%) led the laggards. We expect the bearish performance to be sustained in the near term, barring the occurrence of a major catalyst in the market.
Market Statistics for Thursday, 5th December, 2019
|Market Cap (N’bn)||12,990.0|
|Market Cap (US$’bn)||36.1|
|NSE All-Share Index||26,913.70|
|Daily Performance %||(0.1)|
|1 Week Performance %||0.3|
|MTD Performance %||(0.3)|
|QTD Performance %||(2.6)|
|YTD Performance %||(14.4)|
|Daily Volume (Million)||206.7|
|Daily Value (N’bn)||2.8|
|Daily Value (US$’m)||7.9|