Investors lost N70.1bn as market capitalisation drops to N13.4tn

The Nigerian Equities market closed the day negative as the All Share Index shed 46bps to settle at 37,783.76 points while YTD return retreated to 40.6 per cent. Accordingly, investors lost N70.1billion as market capitalisation fell to N13.4 trillion. Today’s negative performance is attributable to losses in DANGCEM (-0.7%), DANGSUGAR (-5.0%) and ETI (-4.0%). However, activity level strengthened as volume and value traded surged 221.6 per cent and 42.2 per cent to close at 649.6 million units and N5.4 billion respectively.

Performance across sectors was negative as all indices trended southwards save for the Insurance index which gained 0.8 per cent on account of upticks in CONTINSURE (+2.9%) and LINKASSURE (+3.5%). On the other hand, the Banking index topped the losers chart, depreciating 0.7 per cent due to losses in ETI (-4.0%) and ZENITH (-0.9%). The Industrial Goods index trailed, down 0.4 per cent owing to profit taking sustained in DANGCEM (-0.7%) and WAPCO (-0.5%) while the Consumer Goods and Oil & Gas Indices closed the day 0.2 per cent lower apiece primarily due to losses in DANGSUGAR (-5.0%), NIGERIAN BREWERIES (-0.2%) and FORTE OIL (-2.3%).

Investor sentiment – as measured by market breadth (advance/decline ratio) declined to 0.6x from 0.9x recorded the previous session as 14 stocks advanced against 25 decliners. The top performers today were LIVESTOCK (+4.9%), UNILEVER (+4.5%) and ETERNA (+4.0%) while the worst performing stocks were CILEASING (-5.0%), DANGSUGAR (-5.0%) and NCR (-5.0%). Following the extended bearish sentiment, we anticipate a rebound in consequent sessions on account of bargain hunting.

Market Statistics Tuesday, 19th December 2017
Market Cap (N’bn)                                              13,446.0
Market Cap (US$’bn)                                                44.0
NSE All-Share Index                                         37,738.76
Daily Performance %                                                (0.5)
Week Performance %                                               (2.9)
YTD Performance %                                                 40.6
Daily Volume (Million)                                             649.6
Daily Value (N’bn)                                                       5.4
Daily Value (US$’m)                                                  17.7