Home Finance Bears hold sway at stock market, ASI down 0.1%

Bears hold sway at stock market, ASI down 0.1%

by Business News Report

Today, the domestic market sustained its bearish run as the NGX-ASI dipped 0.1% to 52,122 points on account of profit-taking in INTBREW (-9.2%), WAPCO (-1.9%), and FBNH (-0.9%). Accordingly, YTD return moderated to 22.0% (previously: 22.2%) while market capitalisation shed ₦34.8bn to ₦28.1tn. Similarly, trading activity dampened as volume and value declined 36.2% and 35.3% respectively to 151.9m unitsand ₦2.2bn.

Across our coverage sectors, performance was mixed albeit with bearish tilt as 3 indices lost, 2 gained, while the AFR-ICT index closed flat. The Consumer Goods and Banking indices led decliners, down 0.4% apiece due to price depreciation in INTBREW (-9.2%), HONYFLOUR (-2.4%), UBN (-0.7%), and JAIZBANK (-6.6%). Trailing, profit-taking in WAPCO (-1.9%) dragged the Industrial Goods index lower by 0.1%. On the other hand, the Insurance and Oil & Gas indices advanced 0.8% and 0.1% sequentially on due to bargain hunting in AIICO(+0.6%), CORNERST(+9.1%), andOANDO(+0.6%).

Investor sentiment, as measured by market breadth, improved marginally to -0.13x from – 0.15x in the previous session as 13 stocks gained, 22 lost while 70 closed flat. In the final trading session for the week, we expect bargain-hunting activities to drive bullish sentiment.

Market Cap (₦’bn)                                         28,107.29

Market Cap ($’bn)                                                 65.90

NGX All-Share Index                                     52,122.00

Daily Performance %                                            -0.10

WTD Performance %                                            -0.20        

MTD Performance %                                             0.60 

QTD Performance %                                              0.60                                      

YTD Performance %                                             22.00      

Daily Volume                                                        151.90

Daily Value (₦’bn)                                                   2.20

Daily Value ($’m)                                                     5.10

Sectoral Indices Performance

NGX 30                                                                    -0.20                              

NGX BANKING INDEX                              

NGX INSURANCE INDEX                                   -0.40

NGX CONSUMER GOODS INDEX                     0.80      

NGX OIL/GAS                                                        -0.40

NGX LII                                                                    0.10                                

NGX INDUSTRIAL GOODS INDEX                  -0.10                

NGX-AseM                                                              -0.10 

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