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Nigeria Daily Market Report | Equities Market Retreats... ASI down 9bps
(Source: Afrinvest Research , Date: 07-Sep-2020)

Dear Afrinvestor, 

Market Statistics for Monday, 7th September 2020 

Market Cap (N'bn)


Market Cap (US$'bn)


NSE All-Share Index


Daily Performance %


WTD Performance %


MTD Performance %


QTD Performance %


YTD Performance % 


Daily Volume (Million)


Daily Value (N'bn)


Daily Value (US$'m)


Equities Market Retreats... ASI down 9bps
Today, the domestic bourse recorded  a loss of 9bps to settle at 25,582.23 points, ending the 5-day bullish streak as a result of sell-offs in GUARANTY (-2.5%), DANGSUGAR (-3.6%) and UBA (-2.3%). Consequently, investors lost ₦12.2bn as market capitalisation fell to ₦13.4tn while YTD loss worsened to -4.7%. Activity level reduced as volume and value traded declined 39.5% and 47.2% to 254.0m units and ₦2.0bn respectively. The most traded stocks by volume were UBA (44.3m units), ZENITH (30.8m units) and ACCESS (29.1m units) while ZENITH (₦536.1m), UBA (₦292.0m) and ACCESS (₦196.6m) topped by value.

Bullish Sector Performance 
Sector performance remained bullish as 3 of 6 indicators that we cover closed positive, 2 lost while the AFR-ICT index remained unchanged. The Banking and Consumer Goods indices ended on a bearish note, losing 0.7% and 0.4% respectively on account of sell-pressures in GUARANTY (-2.5%), UBA (-2.3%) and DANGSUGAR (-3.6%). On the flip side,  the Insurance index posted the best performance, climbing 0.7% on the back of buying interest in NEM (+8.7%). In the same vein, gains in ETERNA (+9.1%), OANDO (+2.2%) and CAP (+0.6%) lifted the Oil & Gas and Industrial Goods indices by 0.2% and 3bps respectively.

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 1.1x from the 2.1x recorded previously as 16 stocks gained against the 15 that declined. The top gainers were ETERNA (+9.1%), NEM (+8.7%) and CILEASING (+8.3%) while HONYFLOUR (-6.2%), CHAMS (-4.5%) and REDSTAREX (-4.4%) lost the most. We expect profit-taking to persist in the next trading session.

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