Home Stock Market Losses in MTN, Accesscorp, GTCO halts Bullish run as NGX

Losses in MTN, Accesscorp, GTCO halts Bullish run as NGX

by Business News Report

Today, the domestic market halted its 6-day bullish run as losses in MTNN (-2.0%), ACCESSCORP (-1.6%), and GTCO (-0.7%) dragged the benchmark index lower 0.3% to 51,803.98 points. Similarly, YTD return moderated to 21.3% (previously: 21.6%) while market capitalisation decreased by ₦85.6bn to ₦27.9tn. Market activity improved as volume and value traded advanced 18.0% and 393.7% respectively to 314.6m units and ₦12.8bn.

Across our coverage sectors, performance was bearish as 5 indices lost while the Consumer Goodsindex gained 0.3% due to price uptick in NB (+1.8%). The AFR-ICT index led laggards, down 0.9% due to profit-taking in MTNN (-2.0%). Trailing, the Oil & Gas and Insurance indices declined 0.5% and 0.1% respectively on account of losses in OANDO (-3.4%) and AIICO (-1.6%). Also, the Industrial Goodsand Banking indices fell 3 bps and 2bps sequentially on the back of sell pressure on WAPCO (-0.4%) and ACCESSCORP (-1.6%).

Investor sentiment, as measured by market breadth, weakened to -0.12x from 0.03x as 10 stocks gained, 19 lost while 75 closed flat. Tomorrow, we expect profit-taking activities to weigh on market performance.

Market Cap (₦’bn)                                           27,928.03

Market Cap ($’bn)                                                   66.3

NGX All-Share Index                                      51,803.98

Daily Performance %                                              -0.30 

WTD Performance %                                               0.20

MTD Performance %                                              -3.40

QTD Performance %                                              10.30

YTD Performance %                                              21.30 

Daily Volume

Daily Value (₦’bn)                                                314.60

Daily Value ($’m)                                                   12.80                                           

Sectoral Indices Performance

NGX 30                                                                   30.50                                                       

NGX BANKING INDEX                                       -0.30            

NGX INSURANCE INDEX                                    0.00                           

NGX CONSUMER GOODS INDEX                     -0.10                    

NGX OIL/GAS                                                         0.30                    

NGX LII                                                                  -0.50                                                       

NGX INDUSTRIAL GOODS INDEX                   -0.50

NGX-AseM                                                              0.00

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