The domestic bourse sustained yesterday’s bearish outing as sell-offs in STANBIC (-8.3%), GUARANTY (-2.4%) and MTNN (-0.7%) drove the All Share Index southwards by 108bps to 27,352.24 points. Consequently, YTD loss worsened to -13.0% while market capitalisation declined by N138.2bn to N13.3tn.
Activity level advanced as volume and value traded rose 40.6% and 218.1% to 154.0m units and N2.8bn respectively. The top traded stocks by volume were NB (37.3m units), TRANSCORP (23.1m units) and FBNH (13.3m units) while NB (N2.0bn), GUARANTY (N137.3m), and ZENITH (N121.0m) were the top traded stocks by value.
Across sectors, performance was bearish as all 6 indices under our coverage closed in the red. The Banking index lost the most, down 2.4% due to price depreciation in STANBIC (-8.3%), GUARANTY (-2.4%) and ZENITH (-2.1%). The Insurance and Oil & Gas indices followed, declining 1.4% and 0.5% respectively, following losses in MANSARD (-5.6%), AIICO (-1.5%), MOBIL (-2.9%) and FORTE (-1.5%). Similarly, the Consumer Goods and AFR-ICT indices declined 0.4% apiece due to sell-offs in DANGSUGAR (-6.3%), CADBURY (-9.9%) and MTNN (-0.7%). Price declines in DANGCEM (-0.4%) and CUTIX (-2.9%) also dragged the Industrial Goods index down by 0.2%.
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.2x from the 0.8x recorded in yesterday’s trading session as only 6 stocks advanced against 28 that declined. The best performers were ABCTRANS (+9.7%), NPFMCRFBK (+8.0%) and UACN (+7.0%) while CADBURY (-9.9%), STERLNBANK (-8.6%) and STANBIC (-8.3%) led laggards. We maintain a bearish outlook on the equities market in the next trading sessions as investor sentiment remains weaken.
Market Statistics Tuesday, 24th September 2019
|Market Cap (N’bn)||13,325.2|
|Market Cap (US$’bn)||37.0|
|NSE All-Share Index||27,352.24|
|Daily Performance %||(1.1)|
|1 Week Performance %||(0.2)|
|YTD Performance %||(13.0)|
|Daily Volume (Million)||154.0|
|Daily Value (N’bn)||2.8|
|Daily Value (US$’m)||7.8|