The domestic equities market closed positive for the first time this week as the All-Share Index rose 6bps to settle at 24,130.26 points following bargain hunting in AIRTELAF (+3.4%), DANGSUGAR (+5.2%) and GUARANTY (+0.9%). As a result, investors gained ₦8.2bn as market capitalisation advanced to ₦12.6tn while YTD loss moderated to -10.1%. Activity level strengthened as average volume and value traded rose by 3bps and 66.4% to 208.2m units and ₦1.8bn respectively. The top traded stocks by volume were STERLING (77.2m units), UBA (19.8m units) and ZENITH (16.0m units) while MTNN (₦296.1m), ZENITH (₦247.9m) and NESTLE (₦235.2m) led by value.
Performance across sectors under our coverage was mixed as 3 of 6 indices advanced, 2 declined while the Oil & Gas remained flat. The AFR-ICT index (+1.6%) gained the most owing to buying interest in AIRTELAFR (+3.4%). Similarly, price appreciation in GUARANTY (+0.9%), ACCESS (+0.8%) and CUTIX (+7.7%) drove gains in the Banking (+0.4%) and Industrial Goods (+1bp) indices. On the contrary, sell pressures in NIGERIAN BREWERIES (-9.8%), NASCON (-4.0%) and WAPIC (-9.1%) weighed on the Consumer Goods (-1.3%) and Insurance (-0.9%) indices respectively.
Investor sentiment as measured by market breadth (advance/decline ratio) rose to 0.7x from the 0.5x recorded in the previous session as 11 stocks advanced against the 15 decliners. The top gainers were CUTIX (+7.7%), DANGSUGAR (+5.2%) and MBENEFIT (+4.8%) while JBERGER (-9.9%), NIGERIAN BREWERIES (-9.8%) and LINKASSURE (-9.8%) lost the most. We maintain our outlook of a mixed performance for the week.
Market Statistics for Wednesday, 15th July 2020
| Market Cap (N’bn) | 12,587.8 |
| Market Cap (US$’bn) | 32.6 |
| NSE All-Share Index | 24,130.26 |
| Daily Performance % | 0.1 |
| WTD Performance % | (0.7) |
| MTD Performance % | (1.4) |
| QTD Performance % | (1.4) |
| YTD Performance % | (10.1) |
| Daily Volume (Million) | 208.2 |
| Daily Value (N’bn) | 1.8 |
| Daily Value (US$’m) | 4.6 |
