Decline in Banking stocks, others drag Nigeria bourse lower
The Nigerian equity market ended the first trading day of the week lower on Monday as it sustained Friday’s negative sentiment, following sell-off on bellwether stocks in the Banking and other sectors. Consequently, the market breadth closed negative, recording 5 gainers against 33 losers.
NSE Trading Floor
In summary, the All-Share Index (ASI) decreased by 347.59 absolute points, representing a decline of 1.27% to close at 27,041.03 points. Similarly, the overall Market Capitalization size shed N181.08 billion, representing a dip of 1.27% to close at N14.09 trillion.
LAWUNION emerged as the top gainer while GLAXOSMITH, NCR & BOCGAS emerged as top losers.
The downtrend was impacted by loses recorded in large and medium capitalized stocks, amongst which are; CADBURY (-9.89%), UBN (-9.21%), FBNH (-7.83%), UBA (-7.43%), ACCESS (-6.38%), ZENITHBANK (-3.78%), GUARANTY (-3.76%), NB (-2.99%) and HONYFLOUR (-2.97%).
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MARKET STATISTICS
| CAP | N14,087,168,501,642.26 | One Day (ASI CHG) | -1.27% |
| Index | 27,041.03 | One Week (ASI CHG) | -1.92% |
| Volume | 429,003,016 | One Month (ASI CHG) | -8.73% |
| Value | N7,298,075,924.45 | Six Months (ASI CHG) | -2.35% |
| Deals | 4,533 | 52 Weeks (ASI CHG) | -17.31% |
| Gainers | 5 | Losers | 33 |
| Unchanged | 56 | Total | 95 |
| YTD Returns | +0.74% |
Source: NSE, GTI Research
FOREIGN EXCHANGE
The Naira at the official window on Monday closed lower at 306.95/$1, representing a 0.02% appreciation against yesterday’s position.
The Investors and Exporters (I&E) FX window opened at N364.75, traded high at N366.50 and eventually closed at N365.36, representing a 0.30% depreciation against Friday’s closing position. A total of $480.89 million was transacted through the I&E window today.
MONEY MARKET
Overnight(O/N) rate closed at 3.30%, representing a 0.53% depreciation against Friday’s closing position, while Open Buy-Back (OBB) rate closed at 2.40%, representing 0.60% depreciation against Friday’s position.
| FIXED INCOME | |||
| Securities | P. Close | Close | Change |
| Bond | 522.44 | 524.44 | +2.00 bps |
| T.Bills | 508.39 | 501.30 | -7.09 bps |
| Note: BPS=> Basis Points |
Source: FMDQ, GTI Research
NASD OTC MARKET
The NASD OTC market on Monday closed unchanged as the Unlisted Securities Index (USI) closed at 700.39, against Friday’s closing position. Similarly, Market Capitalization closed at N503.55 billion, unchanged against Friday’s position. However, the aggregate volume and value decreased by 7,114.53% and 1,010.51% respectively, as investors traded a total of 6,026,515 volume of shares, valued at N68.21 million in 9 deals.
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Sector Performance
| Sector | % Change |
| NSE30 | -1.36 |
| BANKING | -4.78 |
| CONSUMER GOODS | -0.72 |
| INDUSTRIAL | -0.85 |
| INSURANCE | -0.47 |
| LOTUS ISLAMIC | -0.41 |
| OIL/GAS | -0.45 |
Top 5 Gainers
| Company | Pclose | Open | Close | Change | % Change |
| LAWUNION | 0.73 | 0.73 | 0.80 | 0.07 | 9.59 |
| LINKASSURE | 0.43 | 0.43 | 0.45 | 0.02 | 4.65 |
| MAYBAKER | 1.82 | 1.82 | 1.87 | 0.05 | 2.75 |
| STERLNBANK | 1.46 | 1.46 | 1.50 | 0.04 | 2.74 |
| VITAFOAM | 4.50 | 4.50 | 4.51 | 0.01 | 0.22 |
Top 7 Losers
| Company | Pclose | Open | Close | Change | % Change |
| GLAXOSMITH | 5.00 | 5.00 | 4.50 | -0.50 | -10.00 |
| NCR | 2.70 | 2.70 | 2.43 | -0.27 | -10.00 |
| BOCGAS | 4.50 | 4.50 | 4.05 | -0.45 | -10.00 |
| SKYAVN | 2.62 | 2.62 | 2.36 | -0.26 | -9.92 |
| CADBURY | 9.10 | 9.10 | 8.20 | -0.90 | -9.89 |
| REDSTAREX | 4.45 | 4.45 | 4.01 | -0.44 | -9.89 |
| FCMB | 1.95 | 1.95 | 1.77 | -0.18 | -9.23 |
Top 7 Traders By Volume
| Company | Volume | Value(₦) | Current Price |
| GUARANTY | 177,129,738 | 4,792,858,980 | 26.90 |
| FBNH | 60,097,072 | 329,464,294 | 5.30 |
| ZENITHBANK | 56,152,768 | 1,090,537,954 | 19.10 |
| UBA | 39,165,720 | 267,206,315 | 6.85 |
| UCAP | 18,479,976 | 62,992,338 | 3.35 |
| TRANSCORP | 11,156,732 | 10,368,642 | 0.92 |
| FIDELITYBK | 8,766,051 | 18,083,150 | 2.05 |
Top 7 Traders By Value
| Company | Volume | Value(₦) | Current Price |
| GUARANTY | 177,129,738 | 4,792,858,980.40 | 26.90 |
| ZENITHBANK | 56,152,768 | 1,090,537,953.90 | 19.10 |
| FBNH | 60,097,072 | 329,464,293.90 | 5.30 |
| UBA | 39,165,720 | 267,206,314.60 | 6.85 |
| DANGCEM | 1,385,682 | 212,909,900.30 | 170.00 |
| NESTLE | 137,304 | 155,004,393.90 | 1130.00 |
| NB | 1,953,630 | 91,879,689.90 | 47.00 |
