Market Statistics Tuesday, 28th March, 2017

Market Cap (N’bn) 8,791.0
Market Cap (US$’bn) 28.7
NSE All-Share Index 25,406.72
Daily Performance % (0.3)
Week Performance % (0.6)
YTD Performance % (5.5)
Daily Volume (Million) 916.3
Daily Value (N’bn) 2.4
Daily Value (US$’m) 7.9
Selloffs in DANGCEM Drag Index Southwards…NSE ASI down 31bps
The gains recorded in the Nigerian equities market yesterday, have proven to be a “dead cat bounce” as the benchmark index retreated 0.3% today to 25,406.72 points while YTD loss increased to -5.5%. Selloffs in DANGCEM (-1.8%), ETI (-5.0%) and WAPCO (-2.6%) were the major drags to performance while market capitalisation trimmed N27.1bn to N8.8tn. Activity level was mixed as volume traded jumped 63.2% to 916.3m units (majorly due to increased activity in banking counters) while value traded slid 2.5% to N2.4bn.

Mixed Performance across Sectors
Performance across sectors was mixed as three indices gained while two declined. The Oil & Gas index chaired sector gainers, up 2.7% following price appreciation in SEPLAT (+10.3%). Similarly, the Banking and Consumer Goods indices grew 0.7% and 0.2% on account of gains in GUARANTY (+1.7%) and INTBREW (+5.0%) respectively. On the flipside, the Industrial Goods index declined the most, down 2.0% on the back of losses in WAPCO (-2.6%) and DANGCEM (-1.5%) while the Insurance index fell 0.7%.

Sentiment Strengthens
Despite the decline recorded today, investor sentiment strengthened as market breadth rose from 1.4x yesterday to 1.6x – 22 stocks advanced while 14 declined. The gainers’ chart was topped by SEPLAT (+10.3%), INTBREW (+5.0%) and CUSTODYINS (+5.0%) while LAWUNION (-5.0%), ETI (-5.0%) and TOTAL (-4.7%) led the losers’ list. As we noted yesterday, speculative positioning was the major determinant of trading sentiment as the All Share Index would have appreciated 0.4% ex-DANGCEM. However, we expect the benchmark index to record another negative performance in the trading session ahead as investors take profit.

NASD OTC Exchange Market Activities
In the NASD OTC exchange, the total volume and value of transactions stood at 351,500 units and N10.9m respectively as only 2 counters were traded today. WAMCO and CSCS Plc accounted for 83.0% and 17.0% resspectively of the total volume traded today.