Stock Market starts week trading flattish… NSE ASI up 2bps

The Nigerian Stock Exchange NSE, All Share Index ASI, started the trading week flattish, advancing two basis points to settle at 42,579.48 points while year to date YTD, return closed the day flat at 11.3 per cent. Consequent on this, investors’ wealth rose N3.1 billion as market capitalisation increased to N15.3 trillion. Today’s market performance was largely driven by price appreciation in INTBREW (+5.0%), GUARANTY (+1.5%) and ZENITH (+0.8%) which offset losses in DANGCEM (-0.4%), UBA (-3.5%) and SEPLAT (-2.0%).

Activity level was however mixed as volume traded appreciated 24.8 per cent to 384.9 million units on the back of trades in CCNN (134.8m), TRANSCORP (33.9m) and FIDELITY (16.3m). Whereas, value traded declined 14.5 per cent to N5.5 billion with CCNN (N2.3bn), DANGCEM (N0.55bn) and NIGERIAN BREWERIES (N0.35bn) leading as top traded stocks by value.

Sector Performance was mixed as 3 indices under our coverage advanced while 2 declined. The Consumer Goods index led gainers, up 0.8 per cent following a rally in INTBREW (+5.0%) and PZ (+5.0%). In the same vein, the Insurance and Banking indices appreciated 0.5 per cent and 0.3 per cent respectively as investors took positions in WAPIC (+2.9%), AIICO (+2.7%), GUARANTY (+1.5) and ZENITH (+0.8%). On the flipside, the Oil & Gas index shed 2.5 per cent primarily due to losses in SEPLAT (-2.0%) and TOTAL (-4.8%). Likewise, sell offs in DANGCEM (-0.4%) pulled the Industrial Goods index 0.2 per cent lower.

Market breadth (advance/decline ratio) which measures investor sentiment improved but stayed negative at 0.8x as 21 stocks advanced against 26 stocks that declined. This shows sentiment is improving although still weak. The top gainers today were JAPAUL OIL (+9.5), UNITY (+9.4%) and NASCON (+5.1%) whereas COURTVILLE (-6.3%), CAVERTON (-5.0%) and MOBIL (-5.0%) led laggards. In the near term, we expect market performance to be largely driven by FY:2017 result expectation

Market Statistics Monday, 26th February 2018
Market Cap (N’bn)                                            15,280.3
Market Cap (US$’bn)                                               49.9
NSE All-Share Index                                        42,579.48
Daily Performance %                                                0.0
Week Performance %                                               1.4
YTD Performance %                                               11.3
Daily Volume (Million)                                           384.9
Daily Value (N’bn)                                                     5.5
Daily Value (US$’m)                                                17.9
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