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Dear Afrinvestor, 

Market Statistics for Wednesday, 15th January 2020 

Investors Take Profit a Second Day... ASI Down 75bps
The broad index shed 0.8% to 29,062.50 points in today's trading session following sell-offs in MTNN (-3.0%), ETI (-7.7%) and ACCESS (-2.9%). Consequently, investors lost ₦113.8bn as market capitalisation declined to ₦15.0tn while YTD return slipped to 8.3%. Activity level dipped as volume and value traded pared 46.0% and 56.5% to 360.1m units and ₦2.8bn respectively. The top traded stocks by volume were MORISON (126.8m units), ACCESS (52.5m units) and UBA (32.0m units) while ZENITH (₦674.0m), ACCESS (₦536.6m) and BUACEMENT (₦444.2m) led by value.

Bearish Sector Performance
The bearish sector performance continued as all indices under our coverage lost save the Insurance index which gained 0.3% due to buying interest in CHIPLC (+2.6%). Price declines in MTNN (-3.0%) and MEYER (-8.0%) pulled the AFR-ICT and Industrial Goods indices down 1.7% and 1.3% respectively. Similarly, the Banking and Consumer Goods indices pared 0.2% apiece following losses in ETI (-7.7%), DANGSUGAR (-2.0%) and INTBREW (-1.1%). Also, the Oil & Gas index shed 0.1% as investors sold-off OANDO (-4.0%).

Investor Sentiment Unchanged
Investor sentiment as measured by market breadth (advance/decline ratio) remained flat at 0.6x as 11 stocks gained relative to 17 losers. The top gainers were BETAGLAS (+10.0%), CORNERST (+9.4%) and GLAXOSMITH (+7.1%) while LIVESTOCK (-9.1%), SOVRENINS (-9.1%) and MEYER (-8.0%) were the top losers. Although today's performance was negative, we expect a better performance in successive sessions due to bargain hunting. 

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Best Regards,