Price appreciation in GUARANTY (+3.6%), MTNN (+0.9%) and ZENITH (+1.1%) buoyed market performance as the All-Share Index advanced 7bps to close at 22,616.28 points. Consequently, market capitalisation appreciated ₦8.8bn to settle at ₦11.8tn while YTD loss eased to -15.7%. Activity level weakened as volume and value traded fell 49.9% and 40.4% respectively to 106.1m units and ₦1.3bn. The top traded stocks by volume were LASACO (13.5m units), GUARANTY (11.8m units) and UBA (11.0m units) while DANGCEM (₦328.8m), GUARANTY (₦228.9m) and MTNN (₦221.3m) led the value chart.
Sector performance was mixed as 3 of 6 indices under our coverage gained. Price uptick in GUARANTY (+3.6%) and ZENITH (+1.1%) drove gains in the Banking index (+2.8%). Similarly, buy interest in MTNN (+0.9%) and OANDO (+0.1%) drove the AFR-ICT (+0.5%) and Oil & Gas (+0.4%) indices higher. Conversely, the Consumer Goods index led the laggards, down 1.9% following losses in GUINNESS (-0.4%) and NIGERIAN BREWERIES (-3.5%). Lastly, sell pressures in AIICO (-3.6%) and WAPCO (-0.4%) dragged the Insurance (-25bps) and Industrial Goods (-4bps) indices lower.
Investor sentiment as measured by market breadth (advance/decline ratio) declined to 0.6x from the 1.0x recorded in the previous session as 8 stocks advanced against 13 decliners. The best performing stocks were LASACO (+8.3%), CHAMS (+4.8%) and OANDO (+3.9%) while NIGERIAN BREWERIES (-10.0%), TRANSCORP (-5.4%) and ROYALEX (-4.8%) lost the most. We expect market performance to be driven by corporate earnings releases for the rest of the week. Stanbic IBTC Plc (Unaudited Q1:2020 Result): Gross Earnings grew 4.6% Y-o-Y to ₦61.4bn from ₦58.7bn in Q1:2019 while PAT rose by 7.6% Y-o-Y to ₦20.6bn from ₦19.2bn in Q1:2019.
Corporate Actions
Stanbic IBTC Plc (Unaudited Q1:2020 Result): Gross Earnings grew 4.6% Y-o-Y to ₦61.4bn from ₦58.7bn in Q1:2019 while PAT rose by 7.6% Y-o-Y to ₦20.6bn from ₦19.2bn in Q1:2019.
Nascon Allied Industries Plc (Unaudited Q1:2020 Result): Revenue rose marginally by 0.1% Y-o-Y to ₦6.9bn from ₦6.8bn in Q1:2019 while PAT fell 9.6% Y-o-Y to ₦627.8m from ₦694.9m in Q1:2019.
Market Statistics for Monday, 27th April 2020
| Market Cap (N’bn) | 11,786.5 |
| Market Cap (US$’bn) | 32.7 |
| NSE All-Share Index | 22,616.28 |
| Daily Performance % | 0.1 |
| WTD Performance % | 0.1 |
| MTD Performance % | 6.2 |
| QTD Performance % | 6.2 |
| YTD Performance % | (15.7) |
| Daily Volume (Million) | 106.1 |
| Daily Value (N’bn) | 1.3 |
| Daily Value (US$’m) | 3.7 |
Source: Afrinvest
