THUR, APRIL 23 2020-theG&BJournal-Nigerian stocks gave up more gains as sell pressure witnessed in bellwether stocks – DANGCEM (-3.3%), BUACEMENT (-5.3%), and NESTLE (-6.7%) – pushed the All-Share Index down by 1.4% to 22,470.79 points, the biggest drop since falling by 2.0% on April 6, 2020.
Accordingly, Month-to-date gain decreased to 5.5% as Year-to-Date losses increased to -16.3%.
The total volume of trades increased by 8.2% to 201.48 million units, valued at NGN3.36 billion and exchanged in 3,381 deals. ACCESS was the most traded stock by volume at 46.81 million units while NESTLE was the most traded stock by value at NGN1.64 billion.
Sectoral performance was negative, as all sectoral indices declined save for the Banking (+0.7%) index. The Industrial Goods (-3.8%) index recorded the largest loss, followed by the Consumer Goods (-3.3%), Oil and Gas (-0.2%) and Insurance (-0.1%) indices.
Market sentiment, as measured by market breadth, was positive (1.2x), as 17 tickers gained, relative to 14 losers. JAIZBANK (+10.0%) and CADBURY (+9.5%) were the top gainers of the day, while ETI (-10.0%) and UACN (-10.0%) were the top losers of the day.
Currency
The naira weakened at the parallel market by 1.2% to NGN430.00/USD, while it was flat at NGN383.00/USD at the I&E FX window.
Money Market and Fixed Income
The overnight lending rate contracted by 10bps to 2.0%, as inflows from OMO maturities (NGN226.78 billion) came into the system.
Trading in the NTB secondary market was bullish, as average yield across instruments pared by 4bps to 2.7%. Across the curve, yields contracted at the mid (-6bps) and long (-6bps) segments following buying interest in the 161DTM (-15bps) and 217DTM (-23bps) instruments; the short end was flat. Similarly, average yield contracted by 14bps to 10.1% in the OMO secondary market.
Trading in the Treasury bond secondary market was bullish, as investors covered for lost bids at yesterday’s auction. Thus, average yield contracted by 29bps to 10.6%. Across the curve, yields pared at the short (-30bps), mid (-49bps) and long (-12) segments following demand for the MAR-2024 (-117bps), JAN-2026 (-235bps) and JUL-2034 (-37bps) bonds, respectively.-Cordros Research
EQUITIES MARKET SUMMARY 23/04/2020 (SM&LB Consulting)
| GAINERS | |||
| COMPANY | OPEN | CLOSE | CHANGE % |
| JAIZBANK | 0.50 | 0.55 | 10.00 |
| CADBURY | 6.30 | 6.90 | 9.52 |
| UCAP | 2.20 | 2.40 | 9.09 |
| VITAFOAM | 4.25 | 4.51 | 6.12 |
| ROYALEX | 0.20 | 0.21 | 5.00 |
| FBNH | 4.25 | 4.45 | 4.71 |
| WAPIC | 0.27 | 0.28 | 3.70 |
| STANBIC | 27.50 | 28.50 | 3.64 |
| WEMABANK | 0.58 | 0.60 | 3.45 |
| WAPCO | 11.35 | 11.70 | 3.08 |
| LOSERS | |||
| ETI | 5.00 | 4.50 | -10.00 |
| UACN | 7.50 | 6.75 | -10.00 |
| LINKASSURE | 0.58 | 0.53 | -8.62 |
| SKYAVN | 1.80 | 1.67 | -7.22 |
| LIVESTOCK | 0.70 | 0.65 | -7.14 |
| NESTLE | 975.00 | 910.00 | -6.67 |
| BUACEMENT [BLS] | 34.85 | 33.00 | -5.31 |
| ARDOVA | 10.00 | 9.55 | -4.50 |
| FCMB | 1.60 | 1.53 | -4.38 |
| STERLNBANK | 1.31 | 1.26 | -3.82 |
| 5 MOST TRADED STOCKS | VOLUME | VALUE | |
| ACCESS | 46,808,746 | 297,338,452.85 | |
| FBNH | 32,641,168 | 141,031,918.00 | |
| ZENITHBANK | 19,376,842 | 268,430,996.50 | |
| UCAP | 13,870,469 | 32,640,727.68 | |
| GUARANTY | 13,562,340 | 256,714,819.90 | |
| MARKET SNAPSHOT 23/04/2020 | |||
| Previous | Today | % Change | |
| DEALS | 3,446.00 | 3,381.00 | (1.89) |
| VOLUME | 186,229,966.00 | 201,475,387.00 | 8.19 |
| VALUE | 1,852,817,440.87 | 3,358,276,535.51 | 81.25 |
| MARKET CAP | 11,872,023,348,665.90 | 11,710,721,488,502.40 | (1.36) |
| INDEX | 22,780.30 | 22,470.79 | (1.36) |
| Company | Dividend/Share | Bonus | Closure of Register | AGM Date | Payment Date |
| May and Baker Plc | N0.20 | Nil | 23rd – 26th April 2019 | 30th May 2019 | 3rd June 2019 |
| Total Nigeria Plc | N14.00 | Nil | 23rd – 29th April 2019 | 27th June 2019 | 28th June 2019 |
| GlaxoSmithKilne Consumer Nig. Plc | N0.50 | Nil | 24th April – 6th May 2019 | 23rd May 2019 | 24th May 2019 |
| Capital Hotel Plc | N0.05 | Nil | 24th – 29th April 2019 | 2nd May 2019 | 9th May 2019 |
| FBN Holdings Plc | N0.26 | Nil | 24th – 29th April 2019 | 3rd May 2019 | 6th May 2019 |
| Infinity Trust Mortgage Bank Plc | N0.03 | Nil | 25th April – 9th May 2019 | 16th May 2019 | 23rd May 2019 |
| Newrest ASL Nigeria Plc | N0.20 | Nil | 29thApril – 3rd May 2019 | 15th May 2019 | 16th May 2019 |
| Berger Paints Plc | N0.65 | Nil | 9th April – 3rd May 2019 | 23rd May 2019 | 24th May 2019 |
| Wema Bank Plc | N0.03 | Nil | 29th April – 6th May 2019 | 8th May 2019 | 13th May 2019 |
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
