Equities Extend Bullish Run to 5th Consecutive Trading Session… NSE ASI Up 0.2%

Market Statistics Thursday, May 4th 2017

Market Cap                                     (N’bn) 9,045.3
Market Cap                                     (US$’bn) 29.6
NSE All-Share Index                              26,166.80
Daily Performance %                                      0.2
Week Performance %                                    1.6
YTD Performance %                                    (2.6)
Daily Volume (Million)                                255.6
Daily Value (N’bn)                                         2.5
Daily Value (US$’m)                                     8.0

The local bourse recorded gains for the 5th consecutive trading session as investors continued to take position in large cap stocks on the exchange. Thus, the NSE All Shares Index ASI, closed 0.2 per cent higher to settle at 26,166.80 points while year to date YTD, loss eased to 2.6 per cent. Investors gained N18.0 billion as market capitalisation rose to N9.0 trillion. The positive close was majorly driven by gains in NIGERIAN BREWERIES (+3.2%), ZENITH (+1.5%) and INTBREW (+9.3%). However, activity level waned as volume and value traded dipped 3.4 per cent and 15.3 per cent to 255.6 million units and N2.5 billion respectively.

Mixed performance across sectors
Sector performance was mixed as 3 indices gained while 2 declined. The Consumer Goods index topped sector gainers, up 0.3 per cent on the back of renewed interest in NIGERIAN BREWERIES (+3.2%) and INTBREW (+9.3%) while the Oil & Gas index followed suit, adding 0.3 per cent owing to gains in OANDO (+4.4%). Likewise, the Banking index added 0.3 per cent due to an uptick in ZENITH (+1.5%) and ETI (+1.7%). Conversely, the Industrial Goods and Insurance indices slid 1.2 per cent and 1.0 per cent following sell offs in WAPCO (-2.6%) and MANSARD (-7.5%) respectively.

Sentiment weakens but still positive
Investor sentiment weakened but still strong as market breadth remained positive, settling at 1.7x (from 2.9x yesterday) – 26 stocks advanced while 15 declined. INTBREW (+9.3%), FIDSON (+9.1%) and NAHCO (+4.8%) topped the gainers’ list while STANBIC (-9.6%), UNITYBNK (-7.4%) and MANSARD (-4.5%) led the losers’ chart. Considering the positive momentum witnessed since the start of the week, we expect the market to close the week positive; however, we do not rule out the possibility of some “end of the week” profit-taking by investors in the trading session ahead.

NASD OTC Exchange Market Activities
In the NASD OTC exchange, total volume traded dipped 25.3 per cent to 29,900 units while value traded declined 9.6 per cent to N4.0 million. Only WAMCO traded today.