GTB, Nigerian Breweries top losers’ table as stock market opens on a bearish note

Guaranty Trust Bank and the Nigerian Breweries on Monday top the losers’ table at the Nigerian Stock Exchange (NSE). Nigerian Breweries recorded the highest loss to lead the losers’ table, dropping by N2.10 to close at N79.40 per share, while Guaranty Trust Bank (GTB) trailed with a loss of 50k to close at N35.90. Lafarge Africa was also down by 25k to close at N13.75 per share. May and Baker shed 19k to N2.31, while United Bank for Africa depreciated by 15k to close at N7.65 per share.

Performance across sectors was largely bearish as 3 of 5 indices under our coverage declined. The Banking index declined the most, down 0.9% following sell offs in GUARANTY (-1.4%) and UBA (-1.9%). The Consumer and Industrial Goods indices trailed, shedding 0.7% and 0.1% respectively as a result of losses in NIGERIAN BREWERIES (-2.6 %) and WAPCO (-1.8%). On the flip side, the Insurance and Oil & Gas indices advanced 0.6% and 0.1% respectively on the back of bargains in CONTINSURE (+3.3%), AIICO (+1.5%) and OANDO (+1.0).

Meanwhile, crucial indicators of the performance of the NSE opened the week on Monday with a loss of 0.31 per cent. The All-Share Index dipped 98.98 points or 0.31 per cent to close at 31,579.72 compared with 31,678.70 on Friday. In the same vein, the market capitalisation which opened at N11.565 trillion shed N36 billion or 0.31 per cent to close at N11.529 trillion, following losses by some highly capitalised stocks. On the other hand, CAP led the gainers’ table growing by N2.75 to close at N31.95 per share. GlaxosmithKline followed with a gain of N1.25 to close at N14.50, while PZ Cussons improved by N1.05 to close at N11.70 per share. Flour Mills added 70k to close at N20.50, while Julius Berger increased by 50k to close at N21 per share.

The volume of shares traded closed lower, dropping by 53.15 per cent. Investors bought and sold 104.87 million shares valued at N1.94 billion in 2,911 deals. This was in contrast with a turnover of 223.84 million shares worth N2.64 billion achieved in 2,819 deals on Friday. Unilever was the most active stock during the day, exchanging 20.38 million shares valued at N804.95 million. Zenith Bank followed with an account of 14.48 million shares worth N347.44 million, while Interlink sold 9.54 million shares valued at N34.34 million. FCMB Group traded 7.26 million shares worth N11.03 million, while Diamond Bank sold 5.89 million shares valued at N5.13 million. 

Market Statistics Monday, 26th November 2018

Market Cap (N’bn)                                          11,512.2

Market Cap (US$’bn)                                            37.6

NSE All-Share Index                                     31,579.72

Daily Performance %                                            (0.3)

Week Performance %                                           (2.0)

YTD Performance %                                           (17.4)

Daily Volume (Million)                                         104.9

Daily Value (N’bn)                                                   1.9

Daily Value (US$’m)
6.3