The All-Share index declined 16bps to close at 24,933.41 points due to sell-offs in NIGERIAN BREWERIES (-9.5%), ACCESS (-0.7%) and JAIZBANK (-9.0%). As a result, market capitalisation declined ₦20.6bn to settle at ₦13.0tn while YTD loss worsened to -7.1%. Activity level waned as volume and value traded fell 35.6% and 18.4% respectively to 171.2m units and ₦2.2bn. The most active stocks by volume were FCMB (32.4m units), GUARANTY (29.4m units) and FBNH (10.4m units) while GUARANTY (₦707.9m), MTNN (₦613.0m) and NIGERIAN BREWERIES (₦174.9m) led by value.
Performance across sectors was mixed as 3 of the 6 indices under our coverage advanced. The Insurance (+1.2%) and Oil & Gas (+0.4%) indices led the gainers due to price appreciation in AIICO (+9.0%), BENEFIT (+4.8%) and OANDO (+4.1%). The AFR-ICT (+0.2%) also gained as MTNN (+0.4%) advanced. On the flip side, the Consumer Goods (-1.8%) and Banking (-0.1%) indices were the laggards due to losses in NIGERIAN BREWERIES (-9.5%), ACCESS (-0.7%) and JAIZBANK (-9.0%). Again, the Industrial Goods index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) increased to 0.5x from the 0.4x recorded in the previous session as 12 stocks advanced against 22 decliners. The best performing stocks were FIDSON (+10.0%), CAVERTON (+7.4%) and HONYFLOUR (+6.9%) while NEIMETH (-9.9%), PRESTIGE (-9.5%) and CILEASING (-9.4%) lost the most. We expect the market to close the week in the negative as investor sentiment remains weak.
Market Statistics for Thursday, 18th June 2020
| Market Cap (N’bn) | 13,006.8 |
| Market Cap (US$’bn) | 36.1 |
| NSE All-Share Index | 24,933.41 |
| Daily Performance % | (0.2) |
| WTD Performance % | (1.0) |
| MTD Performance % | (1.3) |
| QTD Performance % | 17.1 |
| YTD Performance % | (7.1) |
| Daily Volume (Million) | 171.2 |
| Daily Value (N’bn) | 2.2 |
| Daily Value (US$’m) | 6.1 |
Source: Afrinvest
