DANGCEM drags benchmark index … NSE ASI down 1.2%

The positive performance recorded on the last trading day of the previous week reversed today as the benchmark index was dragged by sell offs in DANGCEM (-4.2%). Consequently, the All Share Index lost 1.2 per cent to settle at 37,980.67 points while YTD return reduced to 41.2 per cent. Ex- DANGCEM the ASI would have appreciated. Investors lost N162.1 billion as market capitalisation fell to N13.5 trillion. Similarly, activity level softened as volume and value traded declined 52.5 per cent and 58.4 per cent to 202.0 million units and N3.8 billion respectively.

Performance across sectors was largely bearish as 3 of 5 indices trended southwards, one closed in the green and the other flat. The Industrial Goods index led laggards, down 2.0 per cent consequent on sell offs in DANGCEM (-4.2%). The Consumer Goods index trailed, falling 0.7 per cent on account of price depreciations in INTBREW (-5.0%), FLOURMILL (-2.7%) and NASCON (-4.9%) while losses in NEM (-2.8%) and AIICO (-3.8%) dragged the Insurance index 0.5 per cent lower. On the flipside, the Banking index emerged the lone gainer, up 0.4 per cent against the backdrop of price appreciations in UBN (+4.9%), GUARANTY (+0.5%) and UBA (+0.8%). The Oil & Gas Index closed flat.

Investor sentiment measured by market breadth (advancers/decliners ratio) improved, albeit still negative, to 0.9x from 0.4x recorded the previous Friday as 17 stocks advanced against 18 decliners. The top performing stocks today were PRESCO (+8.8%), UAC-PROP (+5.7%) and CHAMPION (+5.0%) while the worst performers were CADBURY (-5.9%), ETERNA (-5.0%) and INTBREW (-5.0%). Despite today’s negative performance, market breadth strengthened.

Market Statistics Monday, 18th December 2017
Market Cap (N’bn)                                                     13,516.0
Market Cap (US$’bn)                                                        44.2
NSE All-Share Index                                                 37,957.96
Daily Performance %                                                        (1.2)
Week Performance %                                                        (2.5)
YTD Performance %                                                          41.2
Daily Volume (Million)                                                       202.0
Daily Value (N’bn)                                                                  3.8
Daily Value (US$’m)                                                             12.5