Monday, 4 March 2024

Daily Market Report

Trade Summary Dear Afrinvestor,
Market Cap (₦'bn) 55,889.57
Market Cap ($'bn) 36.1 Market Summary
Local Bourse off to a Positive Start... ASI up 10bps
NGX All-Share Index 98,847.89
The domestic bourse kick-started the week on a positive note, as gains in BUACEMENT
Daily Performance % 0.1%
(+4.4%), TRANSCORP (+9.9%), GEREGU (+2.4%), and newly listed TRANSPOWER (+10.0%)
WTD Performance % 0.1% lifted the ASI by 10bps to 98,847.89 points. However, market capitalisation advanced 3.5% to
MTD Performance % -1.1% ₦55.9tn in reflection of the new listing (TRANSPOWER added ₦1.8tn at listing with 7.5bn
QTD Performance % 32.2% units of shares at ₦264 per unit) while YTD return improved to 32.2% (previously 32.1%).
YTD Performance % 32.2% Activity level firmed up as volume and value traded improved 16.9% and 193.8% to 429.6m
Daily Volume 429.6 units and ₦19.9bn, respectively.
Daily Value (₦'bn) 19.9
Daily Value ($'m) 12.9 Bearish Sector Performance
Sectoral Indices Performance Performance across sectors within our purview was bearish as four indices lost, one gained,
NGX 30 -0.1% while the Oil & Gas index closed flat. The AFR-ICT and Consumer Goods indices declined
NGX BANKING INDEX -0.5%
2.6% and 1.2% respectively due to price depreciation in MTNN (-7.8%), CHAMS (-5.5%),
DANGSUGAR (-10.0%) and NASCON (-8.9%). Similarly, sell off on ACCESSCO (-1.0%), FCMB (-
NGX INSURANCE INDEX -0.2%
3.8%), MANSARD (-2.9%) and MBENEFIT (-7.7%) dragged the Banking and Insurance indices
NGX CONSUMER GOODS INDEX -1.2%
lower by 0.5% and 0.2% respectively. Conversely, price uptick on WAPCO (+2.6%) pushed
NGX OIL/GAS 0.0% the Industrial Goods index up by 1.6%.
NGX LII -0.1%
NGX INDUSTRIAL GOODS INDEX 1.6% Outlook
NGX-ASEM 3.8% Investor sentiment, as measured by market breadth, closed flat at 0.0x as 25 stocks advanced,
NGX Afrinvest Banking Value Index -0.8% 25 declined, while 74 closed flat. Tomorrow, we expect the market to post a mild gain, due
NGX Afrinvest High Dividend Yield Index -1.4% to strategic positioning.
AFR-ICT Index -2.6%
Top Traded Volume Top Traded Value
Number of Number of
Ticker Daily Volume Daily Value Trades Price Price Chg % Ticker Daily Value Daily Volume Trades Price Price Chg %
TRANSCORP 203,432,945 3,186,717,553 717 15.70 9.9% TRANSPOWER 10,560,000,000 40,000,000 90 264.00
TRANSPOWER 40,000,000 10,560,000,000 90 264.00 TRANSCORP 3,186,717,553 203,432,945 717 15.70 9.9%
UBA 19,588,781 448,026,371 500 22.30 -3.0% GEREGU 2,299,364,106 2,332,201 259 1000.00 2.4%
AIICO 12,671,608 13,085,339 141 1.08 0.0% MTNN 840,872,374 4,596,107 1,217 185.00 -7.8%
ACCESSCORP 12,390,463 259,935,377 524 20.85 -1.0% DANGSUGAR 515,048,893 9,611,346 555 53.10 -10.0%

Top Gainers Top Losers

Number of Number of
Ticker Price Price Chg % Trades Daily Volume Daily Value Ticker Price Price Chg % Trades Daily Volume Daily Value
TRANSCORP 15.70 9.9% 717 203,432,945 3,186,717,553 VITAFOAM 22.95 -10.0% 45 1,132,522 25,991,380
PZ 37.10 9.9% 69 916,596 31,295,721 DANGSUGAR 53.10 -10.0% 555 9,611,346 515,048,893
NEIMETH 1.89 9.9% 24 228,453 429,493 UNITYBNK 1.98 -10.0% 85 4,518,136 9,473,264
JULI 4.12 9.9% 115 652,870 2,657,719 NASCON 53.50 -8.5% 265 4,380,740 232,997,430
CONHALLPLC 1.53 9.3% 63 1,794,184 2,693,755 MTNN 185.00 -7.8% 1,217 4,596,107 840,872,374

0.00x Market Sentiment Gauge is defined as Corporate Results & Actions (in billion Naira)
advancers minus decliners, divided by the Ticker Period Revenue (bn) PAT (bn) PAT Growth Dividend
stocks that traded flat for the day.
FLOURMILLS 9M:2024 1559.20 0.30 -97.4% Nil
HONYFLOUR 9M:2024 124.00 -9.20 12.2% Nil
GUINNESS H1:2023/24 142.60 -5.20 -301.6% Nil
STANBIC FY:2023 466.30 140.60 74.2% Nil
MRS Q1:2024 182.30 4.90 272.3% Nil
CONOIL FY:2023 201.40 9.60 94.2% Nil

Market Sentiment Gauge AIRTELAF 9M:2024 3861.00 1.93 -63.1% Nil

MANSARD FY:2023 82.40 14.10 437.0% Nil
Disclaimer: All reasonable care has been taken to prepare this report and ensure the accuracy of facts stated in it. All Forecasts, Ratings, Estimates, Opinions or Views stated therein reflects the view of the Research Analyst(s). Neither the Research
Analyst(s), the Issuer, nor any of its Directors, Officers or Employees, shall be in any way responsible for the contents hereof or any liability whatsoever for any loss howsoever arising from any or the use of this document or its contents or otherwise
arising in connection therewith.

Afrinvest Securities Limited Afrinvest Research & Consulting

Adedoyin Allen aallen@afrinvest.com Abiodun Keripe akeripe@afrinvest.com

Taiwo Ogundipe togundipe@afrinvest.com Damilare Asimiyu dasimiyu@afrinvest.com

research@afrinvest.com | www.afrinvest.com