Equities market rebounds after a 2-day downtrend,  NSE ASI up 33bps

Trading at the Nigerian Stock market reversed the negative trend which began last week, as the All Share Index rose 33 basis points to close at 36,531.62 points. Similarly, market capitalisation increased N41.2 billion to settle at N12.6 trillion. The positive performance was broadly driven by gains in NIGERIAN BREWERIES (+2.6%), ZENITH (+0.8%) and DANGSUGAR (+2.8%). However, market activity weakened as volume and value traded moderated by 21.2 per cent and 32.9 per cent to 199.9 million units and N1.8 billion respectively.

Mixed sector performance
Performance across sectors was mixed, with 2 of 5 indices trending northwards, 2 closing in the red and one closing flat. The Consumer Goods index led gainers, up 1.2 per cent following price appreciation in NIGERIAN BREWERIES (+2.6%) and DANGSUGA (+2.8%). Similarly, the Banking index followed closely, gaining 6 basis points due to upticks in ZENITH (+0.8%) and ACCESS (+1.3%). Contrarily, the Insurance index closed 60 basis points lower consequent on sustained sell offs in MANSARD (-2.8%) and LAWUNION (-4.0%), while losses in DANGCEM (-0.5%) pulled the Industrial Goods index 20 basis points southwards. The Oil & Gas index closed flat.

Investor Sentiment Improves
Investor sentiment as measured by market breadth (advancers/decliners ratio) expanded to 1.5x from 0.6x – 22 stocks advanced while 14 declined. NASCON (+10.2%), CAVERTON (+4.2%) and FIRSTALUM (+4.0%) led the gainers’ chart while CILEASING (-5.0%), TRANSCORP (-4.9%) and CADBURY (-4.8%) were worst performers.

NASD OTC Exchange Market Activities
In the NASD OTC exchange, three counters traded – CSCS, WAMCO and NIPCO – with total volume and value closing at 3.8 million units and N27.3 million respectively. CSCS was the lone gainer, up 9.3 per cent while the others closed flat.

Market Statistics Tuesday, 24th October 2017
Market Cap (N’bn)                                       12,574.8
Market Cap (US$’bn)                                          41.1
NSE All-Share Index                                    36,531.62
Daily Performance %                                             0.3
Week Performance %                                           (0.4)
YTD Performance %                                             35.9
Daily Volume (Million)                                          199.9
Daily Value (N’bn)                                                    1.8
Daily Value (US$’m)                                                 5.9