Home Finance Losses in BUACEMENT, GUINNESS, GTCO dragged the ASI index lower

Losses in BUACEMENT, GUINNESS, GTCO dragged the ASI index lower

by Business News Report

Today, the domestic market was bearish as losses in BUACEMENT, GUINNESS, and GTCO dragged the ASI index lower by 0.5% to 49,190.34 points. Accordingly, YTD return moderated to 15.2% (previously: 15.7%) while market capitalisation fell ₦124.9bn to ₦26.5tn. Meanwhile, activity level improved as volume and value traded rose 144.5% and 202.0% respectively to 126.8m units and ₦1.8bn.

Across sectors within our purview, performance was bearish as 4 indices lost, 1 gained while the AFR-ICT index closed flat. The Industrial and Consumer Goods indices dipped 2.3% and 0.4% respectively following sell-offs in BUACEMENT (-6.2%), GUINNESS (-5.6%), and CARDBURY (-9.6%). Trailing, the Insurance and Oil & Gas indices fell 30bps and 20bps sequentially due to sell pressure on CORNERST (-10.0%) and OANDO (-1.2%). On the flip side, the Banking index appreciated 0.4% on the back of buy interest in ACCESSCORP(+1.2%), UBA (+0.7%), and ZENITH (+0.3%).

Investor sentiment, as measured by market breadth, weakened to -0.05x (previously: – 0.03x) as 10 stocks advanced, 14 declined while 73 closed flat. We anticipate a negative outing in the next trading session on the back of weak sentiment.

Market Cap (₦’bn)                                         26,532.85

Market Cap ($’bn)                                                 60.90

NGX All-Share Index                                    49,190.34

Daily Performance %                                            -0.50

WTD Performance %                                            -0.60

MTD Performance %                                            -1.30

QTD Performance %                                            -5.10                                            

YTD Performance %                                           15.20

Daily Volume                                                     126.80                                               

Daily Value (₦’bn)                                                1.80

Daily Value ($’m)                                                  4.10                                  

Sectoral Indices Performance

NGX 30                                                                -0.60

NGX BANKING INDEX                                     0.40                              

NGX INSURANCE INDEX                               -0.30

NGX CONSUMER GOODS INDEX                 -0.40                

NGX OIL/GAS                                                    -0.20

NGX LII                                                               -0.60

NGX INDUSTRIAL GOODS INDEX                -2.30

NGX-AseM                                                           0.00                                     

Source: Afrinvest

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