Nigerian Stock Exchange All Share Index up 33bps

The Nigerian Bourse opened this week in the green as the All Share Index (ASI) rose 0.3 per cent to 36,971.27 points, pushing year to date YTD return to 37.6 per cent. In line with the performance, market capitalisation increased by N42.4 billion to close at N12.7 trillion while activity level improved as volume and value traded expanded 34.7 per cent and 21.8 per cent to 215.0m units and N2.7 billion respectively. Today’s uptick can largely be attributed to ZENITH (+3.1%), DANGCEM (+0.2%) and GUARANTY (+0.2%).

Likewise, most sector indices expanded relative to Friday’s values with the Banking index (+1.0%) at the forefront, owing to gains in ZENITH (+3.1%) and ETI (+1.3%). Relatedly, UBA released its 9M:2017 result today. Gross earnings improved 25.8 per cent Y-o-Y to N333.9 billion from N265.5 billion while PAT rose 23.0 per cent Y-o-Y to N60.9 billion from N49.5 billion. The Insurance index recorded a modest gain of 0.2 per cent as MANSARD and AIICO appreciated 3.6 per cent and 3.7 per cent respectively. The Oil & Gas index however closed flat while today’s sole loser was the Consumer Goods index which declined 0.3 per cent primarily due to a loss in NIGERIAN BREWERIES (-1.2%).

Investor sentiment while positive, was down from Friday as market breadth declined from 2.3x to 1.8x at market close. The day’s top performers were CILEASING (+9.6%), FIDELITYBK (+5.0%) and NAHCO (5.0%) against the top losers – LEARNAFRCA (-5.0%), VITAFOAM (-4.3%) and CONTINSURE (-4.2%). We expect the positive performance to be sustained in subsequent sessions as Q3:2017 earnings results are released.

Market Statistics Monday, 16th October 2017
Market Cap (N’bn)                    12,726.1
Market Cap (US$’bn)                      41.6
NSE All-Share Index                36,971.27
Daily Performance %                         0.3
Week Performance %                        0.4
YTD Performance %                        37.6
Daily Volume (Million)                     215.0
Daily Value (N’bn)                               2.7
Daily Value (US$’m)                            8.9