Market Statistics: Thursday, 9th November 2017

 

Market Cap (N’bn)

               12,823.4
Market Cap (US$’bn)                   41.9
NSE All-Share Index              37,051.54
Daily Performance % (0.2)
Week Performance % 0.5
YTD Performance %                  37.9
Daily Volume (Million)                  175.8
Daily Value (N’bn)                      3.5
Daily Value (US$’m)         11.5

DANCEM Drags Benchmark Index … NSE ASI down 24bps
The Nigerian Bourse bucked a 2-day consecutive gain as the All Share Index fell 24bps to close at 37,051.54 points whilst YTD return moderated to 37.9%. Similarly, market capitalisation lost N30.3bn to close at N12.8tn.

Today’s negative performance was consequent on profit taking in DANGCEM (-0.9%), ex-DANGCEM market would have closed 4bps northward. However, activity level was mixed as volume fell 9.2% to close at 175.8m units while value traded rose 94.9% to settle at N3.5bn

Mixed Sector Performance
Sector performance today stayed mixed as 3 of 5 indices under our coverage closed in the green, while 2 trended southwards. The Banking index (-0.3%) led losers against the backdrop of losses in ZENITH (-1.9%) and UBA (-1.0%) while a decline in DANGCEM (-0.9%) pulled the Industrial Goods index 0.5% lower.

On the contrary, the Oil & Gas index appreciated the most, up 1.2% on account of gains in MOBIL (+7.8%) and FORTE(+5.0%). The Insurance index trailed, gaining 0.3% due to price appreciation in CONTISURE (+4.4%). Similarly, an uptick in INTBREW (+8.4%) pushed the Consumer Goods index to close 0.1% higher.

Investor sentiment Remains Unchanged
Investor sentiment stayed flat today as market breadth (advancers/decliners ratio) closed at 0.9x relative to 0.9x recorded in the previous session. Leading the gainers’ chart were CAVERTON (+9.5%), INTBREW (+8.4%) and MOBIL (+7.8%) while LAWUNION (-4.6%), NPFMCRFBK (-4.6%) and FIDELITY (-4.1%) were today’s worst performers.

While we attribute today’s performance to profit taking in DANGCEM, the relatively unchanged market breadth suggests investors are still sourcing for bargains. Accordingly, we expect a positive close for the week.

spot_img
spot_img
spot_img
spot_img
spot_img

Hot this week

T+1: SEC Insists on 5pm Settlement Deadline for Equities, Commodities on CSCS Platform

The Securities and Exchange Commission (SEC) has fixed 5:00...

Tinubu: Refineries Will Return to Deliver Profit, Welcomes Support by NUPENG

President Bola Ahmed Tinubu said in Abuja refineries will...

NRS Chair: Report of $279m Frontier Exploration Fund Transfer is Fake News

The Executive Chairman of the Nigeria Revenue Service (NRS),...

Former CFI: Regulatory Concession on Recapitalisation Will Undermine Integrity of the Process

The former Commissioner for Insurance/CEO, National Insurance Commission (NAICOM),...

Terrorism: SEC Directs Capital Market Operators to Freeze Assets of 9 Financiers

The Securities and Exchange Commission (SEC) has directed capital...

Topics

Interswitch, ACI Worldwide Deepen Strategic Partnership to Revolutionise Africa’s Payments Landscape

Africa's payments ecosystem has undergone significant transformations in recent...

Nigeria Losing N5.6bn Per Day over Fuel Crisis

Nigeria is losing over N5.6 billion per day in...

Access Holdings Records N3.9tn Gross Earnings in 9 Months

Access Holdings Plc has announced its nine-month ended September...

Equity Trading on Nigerian Exchange Surges 115% as Reforms Draw Foreign, Domestic Investors

Transactions by domestic and foreign investors on Nigerian Exchange...

Banks Have Low Expertise in Oil & Gas Business

Nigerian banks have limited k n o w l e d g e and understanding of oil and gas business, thus making it difficult for financial institutions in the country to tailor the right financing model for operators in that sector of the economy. That was a crucial point from the Nigeria Oil & Gas (NOG) 2015 communiqué issued over the weekend According to the communiqué, the restricted lending capacity of indigenous banks and rate disadvantage cannot compare to various money lenders elsewhere while poor credit rating also affect money lenders’ ability to support indigenous companies operating in oil and gas business.

Stanbic IBTC Asset Mgt Launches N20bn Infrastructure Fund Series III Issuance

Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC...

Aiteo Founder, Peters, Wins Forbes Oil & Gas Leader of the Year Award 2018

R-L: Benedict Peters, Founder of AITEO Group receiving the...

Understanding Why Corporates Need Credit Rating

In today’s dynamic financial landscape, silence leaves room for...
spot_img

Related Articles

Popular Categories

spot_imgspot_img