Market Traded Volume Dipped By -30.70% During The Lockdown; NSEASI Inches Up by 7.45%

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Wednesday, April 22, 2020 / 06:55 AM / By Proshare Research / Header Image Credit: SIBIA Analytics

 

Market performance in the last fourteen (14) trading days that signifies the commencement of the lockdown announced by the Federal Government of Nigeria in two states (Lagos & Ogun) and the Federal Capital Territory (FCT) reflected that Nigerian Equities Market closed positive in eight (8) out of the fourteen (14) trading days, while it closed negative in the six (6) remaining days.


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A review of the fourteen (14) trading days before the lockdown revealed that Market closed positive in six (6) out of the fourteen (14) trading days while it closed negative in the eight (8) remaining days.

 

ASI Performance

Before Lockdown

 

During Lockdown

Date

ASI (%)

 

Date

ASI (%)

10-Mar-20

-4.91

 

30-Mar-20

-2.43

11-Mar-20

-3.35

 

31-Mar-20

-0.14

12-Mar-20

-3.72

 

01-Apr-20

-0.94

13-Mar-20

0.17

 

02-Apr-20

0.10

16-Mar-20

-0.12

 

03-Apr-20

-0.13

17-Mar-20

-0.71

 

06-Apr-20

-2.02

18-Mar-20

1.09

 

07-Apr-20

1.24

19-Mar-20

-3.12

 

08-Apr-20

0.71

20-Mar-20

0.54

 

09-Apr-20

1.47

23-Mar-20

-2.24

 

14-Apr-20

2.32

24-Mar-20

0.19

 

15-Apr-20

3.02

25-Mar-20

-0.05

 

16-Apr-20

0.07

26-Mar-20

0.13

 

17-Apr-20

1.63

27-Mar-20

0.48

 

20-Apr-20

-0.01

Source: NSE, Proshare Research

 

The CoronaWatch Central Page powered by Proshare provides data such as;

  1. World COVID-19 Tracker;
  2. Nigeria COVID-19 Tracker; and
  3. States COVID-19

 

The page also shows a COVID-19 data wise graph based on the following three (3) criteria;

  1. No of Confirmed Cases;
  2. No of Discharged Cases; and
  3. No of Death Recorded.

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The NSEASI, within the lockdown period, inched up by 7.45% as at April 20th, 2020 while it dipped by -10.36% with before the lockdown. A review of the performance of the NSE Sector Indices revealed that they the NSE Industrial Goods Index moved up recording +57% gain within the period, while NSE Lotus and Oil & Gas indices dipped by -89.22% and -3.28% loss respectively.


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Similar review of the NSE sector indices before the lockdown reflected that all the indices traded in the red zone except for the NSE Insurance Index which recorded +5.63% gain.

 

The Gote and Toni indices powered by Proshare both moved up by +6.49% and +13.87 gains recorded during the lockdown period as against -23.18% and -5.15% losses recorded before the lockdown was announced.

 

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Market volume and value traded during the lockdown dipped by -30.70% and -45.99% respectively compared to the volume and value traded before the lockdown.

 

 

Deals

Volume

Value

Before Lockdown

76703

    7,959,166,569.00

   89,111,428,832.70

During Lockdown

  63,644.00

    5,515,939,132.00

   48,129,227,709.12

% Chg

-17.03%

-30.70%

-45.99%

Source: NSE, Proshare Research

 

 

Market Volume and Value Traded Before the Lockdown

Analysis on the volume traded in the Nigerian Equities Market fourteen (14) days before the lockdown reflected that 7.59bn volume of shares valued at N89.11bn and exchanged in 76,703 deals were traded. Further analysis on the top ten stocks by volume reflected that 87% of the volume traded were recorded by the top ten stocks led by ZENITHBANK and GUARANTY.

 

Before Lockdown: Top Ten By Volume

SN

Ticker

Total Deals

Total Volume Traded

Total Value Traded

1

ZENITHBANK

17008

   2,027,031,351.00

  24,196,888,393.85

2

GUARANTY

12369

  1,500,397,950.00

  28,034,106,902.65

3

FBNH

5916

   1,137,238,336.00

     4,717,802,796.85

4

UBA

5617

     920,240,389.00

     5,087,183,467.35

5

ACCESS

4674

     452,198,864.00

     2,682,972,913.25

6

WAPIC

625

     253,708,492.00

           63,501,374.13

7

FIDELITYBK

1522

      215,760,672.00

        361,509,019.33

8

FCMB

1227

      173,470,893.00

        267,018,500.66

9

TRANSCORP

1042

     150,837,440.00

           96,444,807.71

10

STERLNBANK

940

      105,565,128.00

        118,306,078.64

 

Top 10 Total

             50,940

   6,936,449,515.00

   65,625,734,254.42

 

Grand Total

76703

   7,959,166,569.00

   89,111,428,832.70

Source: NSE, Proshare Research

 

Similarly, analysis on the value traded in the Nigerian Equities Market fourteen (14) days before the lockdown reflected that 94% of the value traded were recorded by the top ten stocks led by GUARANTY and ZENITHBANK.

 

Before Lockdown: Top Ten By Value

SN

Ticker

Total Deals

Total Volume Traded

Total Value Traded

1

GUARANTY

12369

   1,500,397,950.00

   28,034,106,902.65

2

ZENITHBANK

17008

   2,027,031,351.00

   24,196,888,393.85

3

NESTLE

1840

           9,611,828.00

     8,092,762,992.70

4

UBA

5617

     920,240,389.00

     5,087,183,467.35

5

FBNH

5916

   1,137,238,336.00

      4,717,802,796.85

6

DANGCEM

1848

         27,351,471.00

     3,468,318,022.10

7

MTNN

2053

        35,222,358.00

     3,443,466,012.30

8

ACCESS

4674

      452,198,864.00

      2,682,972,913.25

9

NB

1021

        76,663,408.00

     2,223,559,839.30

10

STANBIC

608

        65,445,262.00

     1,869,344,670.35

 

Top 10 Total

     52,954

    6,251,401,217.00

   83,816,406,010.70

 

Grand Total

76703

       7,959,166,569.00

        89,111,428,832.70

Source: NSE, Proshare Research

 

Market Volume and Value Traded During the Lockdown

Analysis on the volume traded in the Nigerian Equities Market fourteen (14) days into the lockdown reflected that 5.52bn volume of shares valued at N48.13bn and exchanged in 63,644 deals were traded. Further analysis on the top ten stocks by volume reflected that 81% of the volume traded were recorded by the top ten stocks led by OMOSAVBNK and FBNH.

 

During Lockdown: Top Ten By Volume

SN

Ticker

Total Deals

Total Volume Traded

Total Value Traded

1

OMOSAVBNK

                  1.00

  1,100,000,000.00

      605,000,000.00

2

FBNH

          6,402.00

        737,791,461.00

     3,257,318,257.90

3

GUARANTY

          7,618.00

      650,593,362.00

  12,148,643,406.60

4

ZENITHBANK

       10,608.00

      612,965,502.00

    8,020,150,546.75

5

STERLNBANK

             366.00

      339,226,816.00

        396,173,234.46

6

UBA

          3,610.00

       309,563,137.00

     1,762,402,597.60

7

FIDELITYBK

          1,668.00

      233,343,292.00

        454,377,023.79

8

MEYER

               22.00

      200,996,654.00

         92,464,952.90

9

ACCESS

          2,846.00

       149,651,803.00

         939,715,551.10

10

FCMB

          1,297.00

       142,629,965.00

        225,109,639.46

 

Top 10 Total

       34,438.00

    4,476,761,992.00

   27,901,355,210.56

 

Grand Total

        63,644.00

    5,515,939,132.00

   48,129,227,709.12

Source: NSE, Proshare Research

 

Similarly, analysis on the value traded in the Nigerian Equities Market fourteen (14) days into the lockdown reflected that 89% of the value traded were recorded by the top ten stocks led by GUARANTY and ZENITHBANK.

 

During Lockdown: Top Ten By Value

SN

Ticker

Total Deals

Total Volume Traded

Total Value Traded

1

GUARANTY

          7,618.00

     650,593,362.00

  12,148,643,406.60

2

ZENITHBANK

       10,608.00

     612,965,502.00

    8,020,150,546.75

3

NESTLE

          1,918.00

         7,729,060.00

     6,443,136,613.60

4

DANGCEM

          3,387.00

        38,461,715.00

    4,610,000,720.10

5

FBNH

          6,402.00

      737,791,461.00

     3,257,318,257.90

6

MTNN

          2,531.00

       26,908,381.00

     2,577,765,901.30

7

UBA

          3,610.00

     309,563,137.00

     1,762,402,597.60

8

WAPCO

          2,437.00

      121,213,251.00

     1,431,863,119.60

9

NB

          1,138.00

        57,847,811.00

     1,417,002,377.00

10

ACCESS

          2,846.00

     149,651,803.00

         939,715,551.10

 

Top 10 Total

        42,495.00

  2,712,725,483.00

  42,607,999,091.55

 

Grand Total

        63,644.00

  5,515,939,132.00

   48,129,227,709.12

Source: NSE, Proshare Research

 

A review of the top five (5) stocks that topped market volume before the lockdown against the volume traded during the lockdown reflected that they all recorded drop in the volume traded. The affected stocks are ZENITHBANK (-69.76%), GUARANTY (-56.64%), FBNH (-35.12), UBA (-66.36) and ACCESS (-66.91%)

 

Sector Analysis

A review of the volume and value traded by sector before the lockdown revealed that Financial services recorded the highest volume traded accounting for 89.76% of the volume traded. This is closely followed by Conglomerates and Consumer Goods sectors with 2.20% and 2.15% contributions respectively.

 

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Similarly, a review of the volume and value traded by sector during the lockdown revealed that Financial services recorded the highest volume traded accounting for 81.67% of the volume traded. This is closely followed by Healthcare and Consumer Goods sectors with 5.34% and 4.48% contributions, respectively.

 

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A review of sector's market volume and value traded before and during the lockdown reflected that it dipped by -30.70% and -45.99%

 

 

Deals

Volume

Value

Before Lockdown

     76,702.00

   7,959,165,569.00

   89,111,421,532.70

During Lockdown

     63,644.00

    5,515,939,132.00

  48,129,227,709.12

% Chg

-17.02%

-30.70%

-45.99%

 

Though analysis has revealed that NSEASI Inched up by +7.45% during the lockdown as against -10.36% loss recorded before the lockdown, market volume and value traded, however, has dropped significantly during the period under review.

 

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