In line with our projection in the prior session, the domestic bourse halted a 5-day bearish run following bargain hunting in DANGCEM (+8.3%), UBN (+4.6%), and OANDO (+5.1%). Against this backdrop, the benchmark index rose 0.7% to 51,091.75 points, YTD return improved to 19.6% (previously: 18.8%) and market capitalization gained ₦180.6bn to ₦27.5tn. Meanwhile, market activity was mixed as volume traded fell 14.9% to ₦167.0m units while value traded rose 9.4% to ₦2.7bn.
Across our coverage sectors, performance was even as 3 indices gained while 3 lost. Leading the advancers, the Industrial Goods index gained 3.9% on the back of price appreciation in DANGCEM (+8.3%) and CUTIX (+0.8%). Similarly, buying interest in OANDO (+5.1%), MRS (+9.8%), and UBN (+4.6%) drove the Oil & Gas and Banking indices north, up 0.7% and 0.4% respectively. Conversely, the AFR-ICT index fell the most, down 0.4% due to sell pressure on MTNN (-0.9%). Also, the Consumer Goods and Insurance indices lost 0.1% apiece, following price decline in BUAFOODS (-10.0%), NASCON (-8.6%), AIICO (-1.5%), and REGALINS (- 3.6%).
Investor sentiment, as measured by market breadth, strengthened to -0.12x from -0.31x as 14 stocks gained, 22 declined while 69 closed flat. In the next trading session, we expect the market to sustain the mild gains due to improved investor sentiment.
Market Cap (₦’bn) 27,544.05
Market Cap ($’bn) 65.4
NGX All-Share Index 51,091.75
Daily Performance % 0.7
WTD Performance % -1.3
MTD Performance % -4.7
QTD Performance % 8.8
YTD Performance % 19.6
Daily Volume 167.0
Daily Value (₦’bn) 2.7
Daily Value ($’m) 6.5
Sectoral Indices Performance
NGX 30 1.2
NGX BANKING INDEX 0.4
NGX INSURANCE INDEX -0.1
NGX CONSUMER GOODS INDEX -0.1
NGX OIL/GAS 0.7
NGX LII 1.3
NGX INDUSTRIAL GOODS INDEX 3.9
NGX-AseM 0.0
