Sell pressures dominated today’s trading session as investors booked gains from MTNN (-1.4%), GUINNESS (-5.9%) and ARDOVA (-6.3%). As a result, the All-Share index declined 75bps to 28,449.49 points, market capitalisation fell (₦113.1bn) to ₦14.9tn while YTD return weakened to 6.0%. Activity level improved as volume and value traded rose by 9.8% and 44.3% to 326.6m units and ₦4.2bn respectively. The most traded stocks by volume were UBA (40.3m units), ZENITH (39.6m units) and GUARANTY (38.3m units) while GUARANTY (₦1.1bn), ZENITH (₦800.9m) and NESTLE (₦479.9m) led by value.
Performance across sectors was lacklustre all indices under our coverage lost save Insurance index (+0.6%) which was buoyed by price appreciation in WAPIC (+10.0%). The Banking index lost the most, down 1.7% following losses in GUARANTY (-1.3%) and ZENITH (-1.2%). Similarly, the AFR-ICT and Oil & Gas indices depreciated 1.1% and 0.3% respectively, due to sell pressures in MTNN (-1.4%) and ARDOVA (-10.0%). Likewise, profit-taking in GUINNESS (-5.9%) and WAPCO (-4.4%), dragged the Consumer and Industrial Goods indices lower by 0.1% and 0.3% respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.1x from the 1.4x recorded in the previous session as 4 stocks gained against 34 decliners. WAPIC (+10.0%), PORTPAINT (+2.5%) and UAC-PROP (+1.3%) gained the most while ROYALEX (-8.0%), NEIMETH (-7.6%) and UNIONDAC (-7.1%) led the laggards. We expect the equities market to close the week negative due to weak buying interest.
Market Statistics for Wednesday, 21st October 2020
|Market Cap (N’bn)||14,870.1|
|Market Cap (US$’bn)||38.5|
|NSE All-Share Index||28,449.49|
|Daily Performance %||(0.8)|
|WTD Performance %||(0.7)|
|MTD Performance %||6.0|
|QTD Performance %||6.0|
|YTD Performance %||6.0|
|Daily Volume (Million)||326.6|
|Daily Value (N’bn)||4.2|
|Daily Value (US$’m)||10.9|