Investors and Traders on the Nigerian Stock Exchange today, seemed to have taken a holding position in the face of huge economic uncertainties. This resulted in total slump in volume and value of trades, to levels not seen anytime this year. Both dropped by 48.91% and 40.35% respectively.
Once again, the Banking services stocks led the gainers chart, accounting for 5 out of the 8 gainers today. Gains in MTNN, GUARANTY and ZENITHBANK were sufficient to counter the loses suffered by 14 stocks led by NB and GUINNESS to see the Market Index close 0.07% up.
As the market stood at the end of trading on Monday 27th April 2020
Market Capitalization: N11.78 Trillion
Volume of Stocks Traded: 108,120,797
Value of Stocks Traded: N1.33 Billion
No of Deals: 3,354
NSE All-Share Index
Daily Performance %: 0.07
WTD Performance %: 0.07
MTD Performance %: 6.18
QTD Performance %: 6.18
YTD Performance %: (15.74)
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As already stated, the activity level waned significantly, LASACO was the most traded stock by volume with 13.54mn shares worth N3.52mn traded in 10 deals. DANGCEM recorded the most trade by Value, with 2.52mn shares worth N328.84mn exchanging hands in 235 deals. Investor Sentiment which is a measure of gainers to losers ratio weakened to 0.6x from 1.1x recorded in the last session.
The performance of the indices under our watch was mixed, 2 closed in the green zone while 3 closed in red. Pulled down by 4.76% and 3.61% loses in ROYALEX and AIICO respectively, the Insurance Index dropped 0.25%, on the other hand, 10.00% loss in NB was sufficient to ensure the Consumer Goods Index dropped 1.90%.
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Oando, the only Oil & Gas Index stock to have a price movement, gained 3.91% and translated the gain to the index to see it advance by 0.39%. Banking Index advanced the most, by 1.12% on the back of 3.63%, 3.05% and 1.07% gains in GUARANTY, UBN and ZENITHBANK respectively. The Industrial Goods Index dropped 0.04% caused primarily by the 0.43% loss recorded by WAPCO.
The top 5 gainers for the day were LASACO (8.33%), CHAMS (4.76%), OANDO (3.91%), GUARANTY (3.63%) and UBN (3.05%). While the top 5 losers were NB (10.00%), SKYAVN (6.58%), TRANSCORP (5.41%), ROYALEX (4.76%) and AIICO (3.61%).
As the week progresses, we still maintain our bearish outlook on the market, as the prevailing economic conditions do not show any signs of abating.
Written by:
Basil Maduakor