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Nigeria Daily Market Report |Consumer Goods Stocks Boost Performance... ASI Up 2bps
(Source: Afrinvest Research , Date: 20-Oct-2020)

Dear Afrinvestor, 

Market Statistics for Tuesday, 20th September 2020 

Market Cap (N'bn)

14,983.16

Market Cap (US$'bn)

38.8

NSE All-Share Index

28,665.82

Daily Performance %

0.0

WTD Performance %

0.0

MTD Performance %

6.8

QTD Performance %

6.8

YTD Performance % 

6.8

Daily Volume (Million)

297.3

Daily Value (N'bn)

2.9

Daily Value (US$'m)

7.6

Consumer Goods Stocks Boost Performance... ASI Up 2bps
Price upticks in the Consumer Goods stocks - NIGERIAN BREWERIES (+4.7%), INTBREW (+9.9%) and FLOURMILL (+4.6%) buoyed the performance of the local bourse today as the benchmark index improved to 28,665.82 points. As a result, market capitalisation increased ₦3.5bn to ₦15.0tn and YTD return stood at 6.8%. Activity level varied as volume traded rose 3.5% to 297.3m units and value traded declined 13.9% to ₦2.9bn. The most traded stocks by volume were UBA (72.4m units), ZENITH (27.2m units) and UACN (22.2m units) while ZENITH (₦568.2m), UBA  (₦506.8m) and GUARANTY (₦472.6m) led by value.

Bearish Sector Performance 
Performance across sectors was bearish as 4 of 6 indices under our coverage closed in the red while the AFR-ICT index closed flat. The Consumer Goods index was the lone gainer due to price appreciation in  NIGERIAN BREWERIES (+4.7%), INTBREW (+9.9%) and FLOURMILL (+4.6%). Conversely, the Insurance and Banking indices led the laggards, down 1.2% and 1.0% respectively following price declines in CORNERSTONE (-4.8%), AIICO (-4.5%),  GUARANTY (-1.3%), and ACCESS (-2.5%). Similarly, losses in WAPCO (-2.6%) and MOBIL (-4.6%) dragged the Industrial Goods and  Oil & Gas indices lower by 0.9% and 0.2% respectively. 

Investor Sentiment Improves
Investor sentiment as measured by market breadth (advance/decline ratio) rose to 1.4x from the 1.1x recorded previously as 23 stocks gained against the 17 that declined. INTBREW (+9.9%), UCAP (+8.2%) and NIGERIAN BREWERIES (+4.7%) were top gainers while REGALINS (-8.3%), CORNERSTONE (-4.8%) and PZ (-4.7%) led the laggards. We are not optimistic of sustained bullish performance in subsequent trading sessions. However, investors may position ahead of Q3 earnings releases.

 

 

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Best Regards,

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