Following 3 days of negative performance, the local bourse yet again extended losses to the 4th consecutive session as the All Share Index fell 99bps to close at 43,529.06 points while YTD return moderated to 13.8%.
Consequently, investors lost N155.7bn as market capitalisation fell to N15.6tn. Sell pressures across board especially in banking stocks –GUARANTY (-2.0%), STANBIC (-5.0%) and DIAMOND (-9.3%) continued to weigh on performance. However, activity level was mixed as volume traded declined 6.6% to 500.9m units while value traded rose 28.0% to settle at N6.6bn respectively.
Mixed Sector Performance
Sector Performance was mixed today as 2 of 5 indices closed in the red, 2 trended northwards and the other flat. The Industrial Goods index led laggards, down 2.0% following losses in DANGCEM (-3.3%). Likewise, the Banking index shed 0.4% consequent on price depreciation in GUARANTY (-2.0%), DIAMOND (-9.3%) and ETI (-1.5%).
On the other hand, the Consumer Goods index emerged the top gainer closing the day 0.7% higher, as DANGSUGAR (+10.2) and NESTLE (+1.7%) buoyed performance. The Oil & Gas index also appreciated, up 0.3% following a rally in SEPLAT (+1.1%). The Insurance index closed the day flat.
Investor Sentiment Strengthens
Investor sentiment- measured by market breadth (advance/ decline ratio) improved to 0.7x from 0.3x recorded yesterday consequent on 21 stocks advancing against 30 decliners.
Today’s best performing stocks were DANGSUGAR (+10.2%), AFRIPRUD (+4.2%) and UBA (+4.1%) while the worst performers were GLAXOSMITH (-9.7%), CAVERTON (-9.4%) and DIAMOND (-9.2%). We expect a negative close to the week following 4 consecutive days of losses as investors continue to lock in profits.
Market Statistics: Thursday, 25th January 2018
| Market Cap (N’bn) | 15,603.9 |
| Market Cap (US$’bn) | 51.0 |
| NSE All-Share Index | 43,529.06 |
| Daily Performance % | (1.0) |
| Week Performance % | (2.9) |
| YTD Performance % | 13.8 |
| Daily Volume (Million) | 500.8 |
| Daily Value (N’bn) | 6.6 |
| Daily Value (US$’m) | 21.7 |
