The domestic equities market declined 0.7 per cent at the close of trade to settle at 30,099.83 points following losses in DANGCEM (-2.1%), NIGERIAN BREWERIES (-1.7%) and DANGSUGAR (-4.4%). Consequently, market capitalisation fell N97.9 billion to close at N13.3 trillion while YTD loss further weakened to -4.3 per cent. Activity level was mixed as volume traded declined 5.6 per cent to 233.5 million units while value traded rose 1.0 per cent to N3.5 billion. WAPIC (50.3m units), ZENITH (28.2m units) and COURTVILLE (25.2m units) were the top trades by volume while MTNN (N1.5bn), NIGERIAN BREWERIES (N764.2m) and ZENITH (N566.5m) led the top trades by value.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Mobil Nigeria, Dangote Cement, MTN Nigeria, Nigerian Breweries and Dangote Sugar Refinery. Analysts at Cordros Capital Limited noted that “In the absence of a positive catalyst, we guide investors to trade cautiously in the short term. “However, stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.” Sovereign Trust Insurance led the losers’ chart dropping by eight per cent, to close at 23k per share. Japaul Oil and Maritime Services shed 7.41 per cent to close at 25k, while Dangote Sugar depreciated by 4.35 per cent to close at N11per share.
Mobil Nigeria declined by 3.82 per cent to close at N163.50, while Sterling Bank was down by 3.28 per cent to close at N2.36 per share. Conversely, Unilever Nigeria recorded the highest gain to leading the gainers’ chart with a gain of 8.22 per cent, to close at N30.95 per share. Associated Bus Company gained 7.14 per cent to close at 30k, while Jaiz Bank appreciated by 4.35 per cent to close at 48k per share. Wapic Insurance appreciated by 2.50 per cent to close at 41k, while NEM Insurance went up by 2.44 per cent to close at N2.10 per share. The total volume traded depreciated by 5.64 per cent with an exchange of 233.45 million shares worth N3.52 billion traded in 3,169 deals. This was in contrast with 247.39 million shares valued at N3.48 billion in 3,434 deals on Monday. Transactions in the shares of Wapic Insurance topped the activity chart with 50.3 million shares worth N20.13 million.
|Market Cap (N’bn)||13,256.1|
|Market Cap (US$’bn)||36.8|
|NSE All-Share Index||30,099.83|
|Daily Performance %||(0.7)|
|WTD Performance %||(2.7)|
|YTD Performance %||(4.2)|
|Daily Volume (Million)||233.4|
|Daily Value (N’bn)||3.5|