Thisday Afrinvest Index up 5.3%

Thisday Afrinvest 40 index gained 5.3% to close at 4435.01 index points following price appreciation in MTNN (+3.5%), GTCO (+9.5%), and ZENITH (+10.0%). Cumulatively, these stocks account for 25.8% of the index.

Bulls Extend Dominance… ASI up 3.6%

Yesterday, the domestic bourse gained 3.6% to close at 83,191.84 points, buoyed by price increase in major bellweathers including DANGCEM (+3.7%), MTNN (+3.5%), and BUAFOODS (+5.6%). As a result, YTD improved 3.9ppts to 11.3% (previously 7.4%), while market capitalisation gained ₦1.6tn to ₦ 45.5tn. Activity level firmed up as volume and value traded increased 18.5% and 61.8% to 1.4bn units and ₦24.7bn respectively.

Bullish Sector Performance

Performance across sectors within our purview was bullish as five indices gained while one lost. The Banking and Insurance indices rose 8.2% and 6.4% respectively, driven by gains in ZENITH (+10.0%), GTCO (+9.6%), AIICO (+9.5%), and MANSARD (+5.8%). Likewise, the Industrial and Consumer Goods indices gained 4.0% and 2.5% respectively, due to buy interest in DANGCEM (+3.7%), WAPCO (+9.2%), BUAFOODS (5.6%) and DANGSUGAR (+4.3%). Following, the AFRͲICT index rallied 1.5% on the back of price appreciation in MTNN (+3.5%) and OMATEK (+9.1%). Conversely, sell pressure on TOTAL (-10.0%) dragged the Oil & Gas index down by 2.3%.

Outlook

Investor sentiment, as measured by market breadth, improved to 1.6x from 0.7x in the prior session as 72 stocks gained, 13 declined while 38 closed flat. Today, we expect the market to extend the bullish run, due to upbeat investor sentiment.

Corporate Action

Cadbury Nigeria Plc today notified the exchange and the investing public of an EGM slated for Friday 12th January 2024, to seek sareholders approval to convert its outstanding $7.7m liabilities to its parent company– Cadbury Schweppes Overseas– to equities of about 402.1m units to bring the parent company’s holdings to 79.4%.

Also, ACCESSCORP Plc announced that Access Bank Zambia has successfully acquired African Banking Corporation Zambia Limited (Atlas Mara Zambia). This acquisition further expands the footprint of the lender in the East African market.

A Mutual fund (Unit Trust)

is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust)

is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date:

All fund prices are quoted in Naira as at 08Jan-2024, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF.

Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.