NSE ASI down 1.4%

Market Statistics Thursday, 2nd March, 2017

Market Cap                        (N’bn) 8,593.1
Market Cap                        (US$’bn) 28.1
NSE All-Share Index          24,829.59
Daily Performance              % (1.4)
Week Performance            % (2.3)
YTD Performance              % (7.6)
Daily Volume                      (Million) 186.0
Daily Value                         (N’bn) 1.7
Daily Value                         (US$’m) 5.7
The downtrend in the Nigerian equities market was extended into the third consecutive trading session as the All Share Index slid 1.4% to 24,829.59points while YTD loss worsened to –7.6%. Market capitalisation declined by N122.3 billion to N8.6 trillion with sell-offs in DANGCEM (-5.0%) being the major drag to performance. Ex-DANGCEM, the All Share Index would have appreciated 1.6 per cent. Activity level also weakened as volume and value traded fell 18.4 per cent and 26.8 per cent to 186.0m units and N1.7 billion respectively.
Performance across sectors was majorly positive. The Industrial Goods index was the only decliner, falling 2.5 per cent on account of losses in DANGCEM (-5.0%). On the other hand, the Oil & Gas index advanced the most, growing 0.8 per cent on account of price appreciation in FORTE (+5.0%).

In the same vein the Consumer Goods index gained 0.7 per cent as GUINNESS (+2.2%) and NIGERIAN BREWERIES (+1.7%) closed in the green. Relatedly, NESTLE released its FY:2016 result and the performance was reflective of the general macroeconomic conditions. Gross revenue grew 20.3 [per cent Y-o-Y to N181.9 billion while PAT fell 66.6 per cent to N7.9 billion and a dividend of N10.00 was proposed for the reporting period. The Insurance and Banking sector indices also appreciated 0.2 per cent and 0.1 per cent respectively.

Investor sentiment improved, albeit still soft, as market breadth settled at 0.7x – from 0.4x  following 9 stocks that advanced against 13 declining stocks. The gainers’ chart was topped by FORTE (+5.0%), OKOMUOIL (+4.3%) and AIICO (+3.5%) while UNITY (-7.6%), DANGCEM (-5.0%) and DANGSUGAR (-5.0%) led the list of laggards. Following three consecutive days of decline.