Nigeria Stock Market All Share Index up 0.5%

The Nigerian equities market closed on a positive note at the end of trade today. The All Share Index (ASI) rose 0.5 per cent to settle at 36,905.06 points while Year-to-date performance improved to 37.3 per cent. Similarly, market capitalisation increased by N64.3 billion to close at N12.7 trillion. Today’s performance was largely bolstered by gains in NIGERIAN BREWERIES (+2.5%), WAPCO (+5.0%) and ZENITH (+1.4%) which offset losses in SEPLAT (-3.7%) and MOBIL (-4.9%). However, activity level decreased as volume and value traded fell 70.5 per cent and 96.0 per cent to close at 251.0 million units and N3.8 billion respectively.

Mixed performance across sectors
Performance across sectors was mixed as 3 of 5 indices closed in the green. The Industrial Goods index led sector gainers, advancing 1.9 per cent on the back of gains in WAPCO (+5.0%). The Consumer Goods index followed suit, climbing 1.6 per cent due to price increase in NIGERIAN BREWERIES (+2.5%) and renewed buy sentiment in GUINNESS (+5.2%).

In the same vein, the Banking index nudged 0.5 per cent higher due to buy interest in ZENITH (+1.4%) and STANBIC (+1.5%). On the flip side, losses in SEPLAT (-3.7%) and MOBIL (-4.9%) dragged the Oil & Gas index down by 2.4 per cent. Likewise, the Insurance index slipped 0.5 per cent following price depreciation in CONTINSURE (-4.9%).

Market breadth remains positive
Investor sentiment as measured by market breadth (advancers/decliners’ ratio) marginally improved to 1.7x compared to 1.6x recorded yesterday as 30 stocks advanced against 18 that declined. Today’s best performing stocks were CILEASING (+10.0%), WAPCO (+5.0%) and GUINNESS (+5.0%) while the worst performers were OKOMUOIL (-5.0%), CONTINSURE (-4.9%) and MOBIL (-4.9%). We expect the positive trend in the market to be sustained in trading sessions while investors await the release of more H1:2017 results – particularly from the Tier 1 banks – which are expected to be largely positive.

Market Statistics Wednesday, 2nd August 2017
Market Cap (N’bn)                                                  12,720.2
Market Cap (US$’bn)                                                    41.6
NSE All-Share Index                                              36,905.06
Daily Performance %                                                      0.5
Week Performance %                                                     0.4
YTD Performance %                                                     37.3
Daily Volume (Million)                                                 251.0
Daily Value (N’bn)                                                           3.8
Daily Value (US$’)                                                         12.4