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Nigeria Daily Market Report |Local Bourse Posts Gains... ASI up 0.2%
(Source: Afrinvest Research , Date: 20-Feb-2020)

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Dear Afrinvestor, 

Market Statistics for Thursday, 20th February 2020 

Market Cap (N'bn)

14,362.2

Market Cap (US$'bn)

39.9

NSE All-Share Index

27,568.91

Daily Performance %

0.2

WTD Performance %

(0.7)

MTD Performance %

(4.4)

QTD Performance %

2.7

YTD Performance % 

2.7

Daily Volume (Million)

485.0

Daily Value (N'bn)

3.6

Daily Value (US$'m)

10.0

Local Bourse Posts Gains... ASI up 0.2%
Today, the domestic equities market recorded the first gain of the week as the All-Share Index rose 17bps to 27,568.91 points due to buying interest in BUACEMENT (+3.0%), UBN (+1.4%) and UCAP (+9.9%). Consequently, YTD return increased to 2.7% while market capitalisation advanced ₦23.9bn to ₦14.4tn. Activity level was mixed as volume traded rose 37.2% to 485.0m units while value traded fell 28.6% to ₦3.6bn. The most active stocks by volume were SOVRENINS (200.0m units), GUARANTY (56.3m units) and ZENITH (36.7m units) while GUARANTY (₦1.6bn), ZENITH (₦713.9m) and UBA (₦247.5m) led by value.

Mixed Sector Performance 
Across sectors, performance was mixed as 3 of 6 indices under our coverage trended southward. The Oil & Gas index led laggards, down 0.9% due to price depreciation in OANDO (-6.6%). Similarly, the Banking and Consumer Goods indices fell 0.5% and 4bps respectively, on the back of losses in GUARANTY (-1.4%), ZENITH (-0.5%) and CHAMPION (-9.3%). Conversely, the Industrial Goods index led gainers, up 1.7% due to buying interest in BUACEMENT (+3.0%) while the Insurance index trailed, rising 1.3% following gains in AIICO (+10.0%) and WAPIC (+9.7%). Finally, the AFR-ICT index closed flat.

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 2.1x from the 0.8x recorded in the previous trading session as 19 stocks advanced relative to 9 decliners. The best performers were AIICO (+10.0%), IKEJAHOTEL (+10.0%) and UCAP (+9.9%) while LAWUNION (-10.0%), CHAMPION (-9.3%) and JAIZBANK (-7.4%) led the laggards. There remain opportunities for bargain hunting however, we expect the equities market to close the week in the red.

 

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Best Regards,

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