Today, the bearish run continued on the local bourse on account of sell pressure on MTNN (-1.3%), GTCO (-3.9%), and ACCESSCORP (-4.5%). Consequently, the NGX ASI dipped 0.5% to 50,188.55 points, YTD return moderated to 17.5% (previously: 18.1%) while market capitalisation declined ₦136.9bn to ₦27.1tn. Meanwhile, activity level improved as volume and value traded rose 23.2% and 5.1% respectively to 192.4m units and ₦3.1bn.
Across sectors within our purview, performance was bearish as 5 indices lost while 1 gained. The Banking index led the laggards, down 2.3% on the back of selloffs in ACCESSCORP (-4.5%) and ZENITH (-1.9%). Trailing, the Insurance and Oil & Gas indices lost 1.1% apiece due to price depreciation in PRESTIGE (-10.0%), AIICO (-1.7%), OANDO (-4.2%), and ARDOVA (-8.1%). Likewise, losses in MTNN (-1.3%), CAP (-9.0%), and CUTIX (-9.8%) dragged the AFR-ICT and Industrial Goods indices lower by 0.5% and 4bps respectively. On the flip side, the Consumer Goodsindex gained 5bpsdriven by bargain hunting in NB (+0.4%) and NASCON (+0.9%).
Investor sentiment, as measured by market breadth, remained weak at -0.51x (previously: -0.52x) as3 stocksadvanced, 34 declined while 61 closed flat. Tomorrow, we expect the bears to dominate performance on the back of weak sentiment.
Market Cap (₦’bn)
Market Cap ($’bn) 27,064.66
NGX All-Share Index 63.40
Daily Performance % 50,188.55
WTD Performance % -0.50
MTD Performance % -3.40
QTD Performance % -3.10
YTD Performance % -3.10
Daily Volume 17.50
Daily Value (₦’bn) 192.40
Daily Value ($’m) 3.10
Sectoral Indices Performance
NGX 30 7.20
NGX BANKING INDEX -0.60
NGX INSURANCE INDEX -2.30
NGX CONSUMER GOODS INDEX -1.10
NGX OIL/GAS 0.05
NGX LII -1.10
NGX INDUSTRIAL GOODS INDEX -0.20
NGX-AseM -0.04
