Nigeria Stock Exchange all share index up 7bps

Market Cap (N’bn) 8,882.0
Market Cap (US$’bn) 29.0
NSE All-Share Index 25,671.55
Daily Performance % 0.1
Week Performance % 2.1
YTD Performance % (4.5)
Daily Volume (Million) 495.2
Daily Value (N’bn) 2.5
Daily Value (US$’m) 8.3

The Nigerian equities market continued its bullish run, albeit at a slower pace as the Benchmark index inched higher for the 5th consecutive trading session. The NSE ASI rose 7 basis points to close at 25,671.55 points while the year to date YTD, return held steady at -4.5 per cent. Similarly, market capitalisation improved N3.9 billion to settle at N8.9 trillion.
Today’s marginal uptrend was largely driven by the appreciation in GUARANTY (+3.2%), NESTLE (2.7%) and MOBIL (+5.0%) which more than offset the impact of the decline in DANGCEM (-0.6%), GUINNESS (-5.0%), ZENITH (-0.9%) and ACCESS (-2.2%).
In the same vein, market activity improved as volume and value traded surged 227.1 per cent and 37.2 per cent to close at 495.2 million units and N2.5 billion respectively in 2,587 deals.
Performance across sectors was largely bullish with all sector indices trending northwards save for the Industrial Goods index (-0.3%) which was dragged by the 0.6 per cent decline in DANGCEM. The Oil & Gas index led sector gainers on the back of appreciation in MOBIL (+5.0%) and OANDO (+1.0%) while the Banking index (+0.9%) closely trailed as uptrend in GUARANTY (+3.2%) and ETI (+1.0%) offset the impact of selloffs in ZENITH (-0.9%), ACCESS (-2.2%) and UBA (-0.6%).
Similarly, the Consumer Goods index (+0.4%) closed in the green on the back of NESTLE (+2.7%) and DANGFLOUR (+2.5%). The Insurance index however closed flat.
Investor sentiment weakened today as market breadth (advancers/decliners ratio) fell to 0.6x (from 1.2x on Friday) on the back of 13 advancing stocks against 22 decliners. NAHCO (+5.0%), MOBIL (+5.0%) and FIDSON (+4.5%) led the gainers while UCAP (-5.0%), GUINNESS (-5.0%) and CUSTODIAN (-5.0%) led the laggards. Market performance remains driven by speculation as investors cherry pick value stocks with attractive entry prices. However, a weaker market breadth suggests that investors may take profit in subsequent trading sessions.
In the NASD OTC exchange, WAMCO Plc closed at N130.01 (down 2pbs) and recorded the most activity with volume and value traded settling at 44,028 units and N5.8 million respectively.