Investors lost N6.5bn as benchmark index drops on account of profit taking

At the close of trading today, the All Share Index (ASI) fell 5 basis points to close at 35,188.97 points. Accordingly, the Year To Date performance retreated to +30.9 per cent whilst investors lost N6.5billion as market capitalisation settled at N12.1 trillion. DANGCEM (-1.6%) was the major drag to performance today, ex – DANGCEM market would have gained 0.6 per cent. Activity level spiked as volume and value traded surged 212.5 per cent and 665.4 per cent to 429.2 million units and N8.7 billion respectively.

Sector performance stayed mixed as 2 of 5 indices declined. The Oil & Gas index led losers, down 0.7 per cent on account of profit taking in TOTAL (-2.6%) and OANDO (-2.2%) while DANGCEM (-1.6%) dragged the Industrial Goods index 0.5 per cent lower. On the flip side, the Consumer Goods index rebounded 1.3 per cent due to gains in NIGERIAN BREWERIES (+2.9%) and GUINNESS (+2.6%) while GUARANTY (+0.7%) and UBN (+1.2%) buoyed the Banking index 0.2 per cent higher. Similarly, the Insurance index added 0.2 per cent due to upticks in NEM (+4.5%) and WAPIC (+2.0%).

Despite the decline in performance, market breadth improved to 1.3x (from 0.9x yesterday) as 25 stocks advanced against 19 decliners. The best performers were NEIMETH (+4.9%), NEM (+4.5%) and FBNH (+4.3%) while AIICO (-5.4%), CHAMPION (-5.3%) and CAVERTON (-5.0%) were the worst performers.

Market Statistics Thursday, 21st September 2017
Market Cap (N’bn)                                              12,130.4
Market Cap (US$’bn)                                                 39.7
NSE All-Share Index                                           35,188.97
Daily Performance                                                        0.1
Week Performance %                                                   0.5
YTD Performance %                                                   30.9
Daily Volume (Million)                                                429.2
Daily Value (N’bn)                                                          8.7
Daily Value (US$’m)                                                     28.4