Despite the positive start to trading today, losses in NESTLE (-4.4%), UBN (-8.3%) and FBNH (-3.6%) dragged the benchmark index down 69bps to close at 32,473.82 points. As a result, market capitalisation declined N84.4bn to N12.1tn while YTD gain slid to 3.3%. Activity level also remained mixed as volume traded increased 46.6% to 322.2m units while value traded dipped 56.1% to N2.4bn. The top traded stocks by volume were ACCESS (32.3m units), DIAMOND (28.6m units) and UBA (19.0m units) while the top values traded were GUARANTY (N677.7m), ZENITH (N378.1m) and ACCESS (N203.1m).
Sector performance was mixed as 2 out of 5 sectors under our coverage declined. The Consumer Goods and Banking indices shed 1.6% and 1.2% respectively, on the back of profit taking in NESTLE (-4.4%), GUARANTY (-0.1%) and ZENITH (-0.8%). On the flipside, the Insurance and Oil & Gas indices improved 3.2% and 1.6% respectively based on price appreciations in MANSARD (+7.3%), AIICO (+5.4%) and OANDO (+9.9%) while the Industrial Goods index closed flattish, inching 4bps following gains in CUTIX (+9.6%).
Investor sentiment as measured by the market breadth (advance/decline ratio) moderated to 1.1x from 3.1x recorded yesterday as 21 stocks advanced against 20 decliners. AFRIPRUD (+10.0%) led the gainers’ chart following the release of FY:2018 result followed by OANDO (+9.8%) and AGLEVENT (+9.7%) while NPFMCRFBK (-9.7%), UBN (-8.3%) and JAPAULOIL (-7.4%) were today’s worst performing stocks. Based on market performance today, we advise cautious trading till the final results of the presidential elections are announced.
Market Statistics Tuesday, 26th February 2019
Market Cap (N’bn) 12,110.0
Market Cap (US$’bn) 39.6
NSE All-Share Index 32,473.82
Daily Performance % (0.7)
1 Week Performance % 0.2
YTD Performance % 3.3
Daily Volume (Million) 322.2
Daily Value (N’bn) 2.4
Daily Value (US$’m) 8.0
