Nigerian equities posted strong gains driven by impressive numbers and corporate action announcements from DANGCEM and to a lesser extent AFRIPRUD as well as improved market sentiments, as local investors positioned ahead of earnings release by other corporates.
These saw the All Share Index surge 6.57% to close at 25,820.10pt, following 5-consecutive session of gains. At current levels, the YtD market decline has been trimmed to single digit (-9.85%).
A drill down into the market’s performance shows that the gains came in from the NSE Premium Index (DANGCEM, ZENITHBA & FBNH) which was up 20.7% while the NSE Main Board Index made up of other listed companies declined 0.54% w/w. Sector wise, the Industrials saw the steepest gains, jumping 11.38% on the back of gains in DANGCEM.
On its heels, were the Financials, with the Banking and Insurance Index up 5.45% and 1.42% respectively. The weakness came in from the Oils which declined 6.10% on sustained selling pressure in FO and CONOIL which is trading at a 3 year low as well as profit taking which got underway in SEPLAT. The Consumers also came in lower, down by 1.36% w/w.
Market activity levels dipped sharply, with a turnover of 1.47bn shares valued at N7.99bn, down by over a third from the N11.74bn traded in the previous week. The week saw a daily average value of N1.60bn which was also down by about a third compared to the daily average value in 2016 (N2.31bn). The action was mainly in 3 names – GUARANTY, ZENITH & NB – these names accounted for over half of total market turnover. Volume wise, WAPIC, FCMB & ACCESS moved the most number of shares. In terms of participation, it was mixed with foreigners still largely on the sell side and locals on the buy side of transaction.
- All-Share Index: 24,820.10pts
- Market Cap (NGN): 88tn
- Market Cap (USD): 09bn
- Total Volumes Traded: 48bn
- Total Value Traded (NGN): 99bn
- Daily Average Value Traded – WtD (NGN): 60bn
- Daily Average Value Traded – YtD (NGN): 37bn
- Advance/Decline Ratio: 46
- Top Risers:
TIGERBRANDS (+30.30%; N1.72); UCAP (+29.55%; N1.71) & AFRIPRUD (+27.73%; N3.27)
- Top Decliners:
FO (-14.26%; N293.23); FCMB (-10.13%; N0.71) & CONOIL (-9.71%; N1.5)
- Top by Volumes Traded:
WAPIC (214.78mn); FCMB (194. 66mn) & ACCESS (168.79mn)
- Top by Value Traded:
GUARANTY (N1.78bn); ZENITHBANK (N1.56bn) & NB (N0.88bn)
- New 52-Week High:
- New 52-Week Low:
FIDSON (N2.30); FCMB (N0.68); FIDELITYBK (N1.08); TOTAL (N137.75); CONOIL (N16.56); HONYFLOUR (N1.29); MANSARD (N1.80) & OANDO (N2.90)