Home Stock Market The Bears resurface at NSE, ASI slips 0.2%

The Bears resurface at NSE, ASI slips 0.2%

by Business News Report

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

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