Stock market closed on a bearish note as the NGX-ASI dipped 0.7% to 49,644.92 points, spurred by losses in AIRTELAF (-2.0%), ZENITH (-3.6%), and FBNH (-1.9%). Accordingly, YTD return moderated to 16.2% (previously: 17.0%) while market capitalisation shed ₦186.9bn to ₦26.8tn. Activity level diverged as volume traded fell 30.8% to 139.0m units while value traded rose 88.5% to ₦2.7bn.
Across sectors within our purview, performance was mixed albeit bearish tilt as 3 indices lost, 1 gained while the Industrial Goods and Oil & Gas indices closed flat. Losses in AIRTELAF (-2.0%), ZENITH (-3.6%), and ACCESSCORP (-0.6%) dragged the AFR-ICT and Banking indices lower by 1.3% and 1.2% respectively. Also, the Insurance index lost 0.1% due to price depreciation in AIICO (-1.8%) and MBENEFIT (-3.5%). On the other hand, the Consumer Goods index advanced 0.2% following buy interest in UNILEVER(+9.4%) and DANGSUGAR(+0.6%).
Investor sentiment, as measured by market breadth, weakened to -0.10x (from – 0.05x) as 11 stocks advanced, 18 declined while 71 closed flat. We expect bargain hunting activities to boost market performance in the next trading session.
Market Cap (₦’bn) 26,777.60
Market Cap ($’bn) 61.60
NGX All-Share Index 49,644.92
Daily Performance % -0.70
WTD Performance % -0.80
MTD Performance % -0.40
QTD Performance % -4.20
YTD Performance % 16.20
Daily Volume 139.00
Daily Value (₦’bn) 2.70
Daily Value ($’m) 6.30
Sectoral Indices Performance
NGX 30 -0.70
NGX BANKING INDEX -1.30
NGX INSURANCE INDEX -0.10
NGX CONSUMER GOODS INDEX 0.20
NGX OIL/GAS 0.00
NGX LII -0.50
NGX INDUSTRIAL GOODS INDEX 0.00
NGX-AseM 0.00
Source: Afrinvest
