By Afrinvest Research,
Market Statistics Thursday, 21st June 2018
Market Cap (N’bn) 13,826.7
Market Cap (US$’bn) 45.2
NSE All-Share Index 38,152.60
Daily Performance % (1.2)
Week Performance % (2.0)
YTD Performance % (0.2)
Daily Volume (Million) 271.4
Daily Value (N’bn) 4.1
Daily Value (US$’m) 13.4
YTD Return Turns Negative as Bears Dominate… NSE ASI down 1.2%
The bears continued to dominate in today’s trading session as the All Share Index fell 1.2% to 38,152.60 points. Thus, the market’s YTD return slipped back into the negative territory (-0.2%) after staying positive for two weeks. Profit taking in bellwethers – DANGCEM (-3.6%), SEPLAT (-4.5%) and GUARANTY (-1.5%) were the major drags to today’s performance and as a result, investors lost N158.0bn in value as market capitalisation fell to N13.8tn. However, activity level increased as volume and value traded advanced 1.4% and 7.2% to 271.4m units and N4.1bn respectively. The top traded stocks by volume were FBNH (37.3m), FIDELITY (29.5m) and GUARANTY (28.4m) while GUARANTY (N1.2bn), DANGCEM (N492.8m) and NIGERIAN BREWERIES (N466.5m) were the top traded stocks by value.
Oil & Gas Sector On 4-Trading day Bearish Run
The mixed performance across sectors continued as 3 of 5 indices trended southwards. The Oil & Gas index fell for the fourth consecutive trading day as profit taking in SEPLAT (-4.5%) and ETERNA (-1.4%) dragged the index 2.4% lower. In the same vein, the Banking and Industrial Goods indices shed 0.5% apiece as investors sold off on GUARANTY (-1.5%) which has been on a losing streak for 3 consecutive sessions, ZENITH (-1.2%) and DANGCEM (-3.6%). On the contrary, the Insurance and Consumer Goods indices closed in the green, up 1.5% and 0.5% respectively as a result of buying interest in CUSTODIAN (+5.0%), MANSARD (+4.9%), NEM (+4.7%), NIGERIAN BREWERIES (+2.8%) and GUINNESS (+0.5%).
Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) moderated to 0.9x (24 stocks advanced against 26 decliners) from 1.2x in the preceding session. The top performers were JAPAULOIL (+9.3%), CUSTODIAN (+5.0%) and MANSARD (+4.9%) while NAHCO (-5.0%), HONYFLOUR (-5.0%) and CCNN (-4.8%) were the worst performing stocks.
Following five consecutive days of losses, we anticipate a rebound on the last trading day as investors take advantage of bargain hunting opportunities.