NSE ASI up 2.2%

Market Statistics Monday, 24th April, 2017

Market Cap                                                    (N’bn)  8,908.8
Market Cap                                                       $’bn       29.1
NSE All-Share Index                                               25,747.05
Daily Performance %                                                       2.2
Week Performance %                                                      2.1
YTD Performance %                                                       (4.2)
Daily Volume (Million)                                                   211.8
Daily Value (N’bn)                                                             1.4
Daily Value (US$’m)                                                          4.6

The performance of the Nigerian Equities market was largely positive today as investors took position in market bellwethers – DANGCEM (+3.8%), NIGERIAN BREWERIES (+2.8%) and GUARANTY (+3.6%) – which lifted the benchmark index 2.2 per cent to 25,747.05 points while Year to date YTD, loss trimmed to 4.2 per cent. Accordingly, investors gained N193.0 billion as market capitalisation rose to N8.9 trillion. Similarly, activity level strengthened as volume and value traded rose 23.4 per cent and 27.4 per cent to 211.8 m million units and N1.4 billion respectively.

Industrial Goods Index Surges 6.3%
Performance across sectors was mixed as 3 indices advanced while 2 declined. The Industrial Goods index surged 6.3 per cent following a rally in WAPCO (+10.2%) and DANGCEM (+3.8%). Relatedly, WAPCO released its largely impressive first quarter of 2017 result today; Turnover rose 55.1 per cent to N81.3 billion while Profit After Tax PAT, settled at N5.2 billion from a Loss of N1.9 billion in first quarter of 2016. In the same vein, the Banking index appreciated 3.0 per cent on the back of gains in a number of Tier 1 banks – GUARANTY (+3.6%) and ZENITH (+2.0%) – as well as Tier 2 banks – DIAMOND (+5.6%) and STANBIC (+5.0%). STANBIC published its first quarter of 2016 result on the floor of the exchange today; Gross Earnings and PAT improved 35.2 per cent and 100.6 per cent to N47.0 billion and N16.1 billion respectively. Likewise, the Oil & Gas index gained 0.1 per cent. On the flipside, the Insurance index slid 0.2 per cent following price depreciation in AIICO (-3.6%) while the Consumer Goods index was dragged 4 basis points southwards by NESTLE (-4.9%)

Investor Sentiment Strengthens
Investor sentiment strengthened today, as market breath (advancers/decliners ratio) rose to 1.5x from 0.8x on Friday – 17 stocks advanced against 16 decliners. The best performing stocks were WAPCO (+10.2%), DIAMOND (+5.6%) and STANBIC (+5.0%) while NASCON (-4.9%), NESTLE (-4.9%) and NPFMCRFBK (-4.3%) were the worst performing stocks. As expected, the launch of the CBN’s Investors & Exporters FX window resulted in renewed optimism in equities as the window is expected to boost the inflow of portfolio investments. Coupled with the euphoria from the launch of the I&E FX window, investor sentiment was also buoyed by positive earnings releases which trickled in during today’s trading session. We expect this positive sentiment to be sustained in subsequent trading sessions.

NASD OTC Exchange Market Activities
In the NASD OTC exchange, total volume and value traded closed at 61,200 units and N8.8m respectively. WAMCO (-4.4%) was the only counter traded today and closed at a price of N143.00.