Today the equities market extended its gaining streak due to price appreciation in INTBREW (+10.0%), GUARANTY (+0.2%) and CAP (+5.6%). Consequently, the Benchmark index advanced 13bps to close at 25,204.60 points. Consequently, investors gained ₦18.1bn as market capitalisation advanced to ₦13.1tn while YTD loss improved to -6.1%. Activity level varied as volume traded fell 3bps to 179.5m units while value traded climbed 66.7% to ₦2.5bn. TRANSCORP (35.5m units), GUARANTY (29.9m units) and LASACO (11.9m units) led by volume while NESTLE (₦983.5m), GUARANTY (₦755.9m) and ZENITH (₦163.5m) led by value.
3 of the 6 indices under our coverage gained, 1 lost while the AFR-ICT and Oil & Gas indices were flat. The Insurance index was the lone loser as it fell 0.2% due to profit taking in AIICO (-3.2%). On the flip side, the Consumer Goods index led the gainers, advancing 0.5% due to buying interest in INTBREW (+10.0%) and HONEYFLOUR (+2.2%). Similarly, the Banking and Industrial Goods indices climbed 0.2% and 3bps respectively following price appreciation in GUARANTY (+0.2%), FIDELITY (+0.6%) and CAP (+5.6%).
Investor sentiment as measured by market breadth (advance/decline ratio) improved to 1.5x from the 1.0x recorded previously as 17 stocks gained relative to the 11 that lost. The top gainers were INTBREW (+10.0%), CUTIX (+9.7%) and NEIMETH (+9.6%) while STUDPRESS (-9.6%), UAC-PROP (-9.5%) and ABCTRANS (-8.5%) topped the laggards. We expect the equities market to close the week with slight gains.
Corporate Actions
Airtel Africa Plc announces a strategic partnership with MoneyGram, a global leader in cross-border P2P payments and money transfers.
Ellah Lakes Plc announces a potential purchase of 100% shares of an oil palm processing Company with substantial assets in Delta State.
Market Statistics for Thursday, 20th August 2020
| Market Cap (N’bn) | 13,149.0 |
| Market Cap (US$’bn) | 34.0 |
| NSE All-Share Index | 25,204.60 |
| Daily Performance % | 0.1 |
| WTD Performance % | 0.0 |
| MTD Performance % | 2.1 |
| QTD Performance % | 2.9 |
| YTD Performance % | (6.1) |
| Daily Volume (Million) | 179.5 |
| Daily Value (N’bn) | 2.5 |
| Daily Value (US$’m) | 6.5 |
Source: Afrinvest
