The equities market continued its loss-making trend as the All-Share Index dipped 62bps to 26,808.24 points following price declines in STANBIC , GUARANTY and FBNH. Also, the YTD return turned negative, down to -0.1% while market capitalisation fell ₦86.6bn to ₦14.0tn. Activity level rose as volume and value traded advanced 1.4% and 63.7% to 231.5m units and ₦4.5bn respectively. The most active stocks by volume were ZENITH (45.6m units), NIGERIAN BREWERIES (39.5m units) and GUARANTY (35.6m units) while NIGERIAN BREWERIES (₦1.8bn), GUARANTY (₦949.1m) and ZENITH (₦868.1m) led by value.
Across sectors, performance was mixed as 3 indices lost, 2 gained and 1 closed flat. The Banking index led laggards, down 1.4% due to sell-offs in GUARANTY (-2.2%) and ACCESS (-2.8%). Similarly, the Consumer Goods and Oil & Gas indices fell 0.9% and 0.6% respectively, on the back of losses in FLOURMILL (-8.7%), NIGERIAN BREWERIES (-2.2%) and OANDO (-5.7%). Conversely, the Insurance index led gainers, up 0.9% due to buying interest in LAWUNION (+8.0%) and AIICO (+3.7%) while the AFR-ICT index (0.1%) trailed, following gains in MTNN (+0.1%). Finally, the Industrial Goods index closed flat.
Investor sentiment as measured by market breadth (advance/decline ratio) remained at 0.7x as 13 stocks advanced relative to 19 decliners. The best performers were JAIZ (+9.4%), LAWUNION (+8.0%) and NAHCO (+7.0%) while FLOURMILL (-8.7%), CHIPLC (-6.2%) and NPFMCRFBK (-6.2%) led the laggards. We expect the equities market to close the week in the red.
Market Statistics for Thursday, 27th February 2020
| Market Cap (N’bn) | 13,965.9 |
| Market Cap (US$’bn) | 38.8 |
| NSE All-Share Index | 26,808.24 |
| Daily Performance % | (0.6) |
| WTD Performance % | (2.1) |
| MTD Performance % | (7.1) |
| QTD Performance % | (0.1) |
| YTD Performance % | (0.1) |
| Daily Volume (Million) | 231.5 |
| Daily Value (N’bn) | 4.5 |
| Daily Value (US$’m) | 12.4 |
Source: Afrinvest
