Stock market closed on a bearish note as the NGX- ASI dipped 0.4% to 48,964.83 points, dragged by losses in NESTLE (-10.0%), GTCO (- 1.1%), and UBA (-2.0%). Accordingly, YTD return moderated to 14.6% (previously: 15.1%) while market capitalisation shed ₦111.6bn to ₦26.4tn. Activity level improved as volume and value traded increased by 117.3% and 88.0% to 220.7m and ₦2.2bn respectively.
Across sectors within our purview, performance was bearish as 4 indices lost while the Industrial Goods and AFR-ICT indices closed flat. Losses in NESTLE (-10.0%), INTBREW (-1.0%), and AIICO (-5.4%) dragged the Consumer Goods and Insurance indices lower by 3.2% and 0.6% respectively. Similarly, the Banking and Oil & Gas indices dipped 0.2% and 3bps respectively due to price depreciation in UBA (-2.1%), ACCESSCORP(1.2%), and OANDO (-0.2%).
Investor sentiment, as measured by market breadth, improved to -0.03x (previously: – 0.16x) as 12 stocks advanced, 14 declined while 75 closed flat. We expect the negative performance to persist in the final trading session due to the absence of any positive triggers.
Market Cap (₦’bn) 26,419.39
Market Cap ($’bn) 60.60
NGX All-Share Index 48,964.83
Daily Performance % -0.40
WTD Performance % 0.10
MTD Performance % -1.70
QTD Performance % -5.50
YTD Performance % 14.60
Daily Volume 220.80
Daily Value (₦’bn) 2.30
Daily Value ($’m) 5.20
Sectoral Indices Performance
NGX 30 -0.50
NGX BANKING INDEX -0.20
NGX INSURANCE INDEX -0.60
NGX CONSUMER GOODS INDEX -3.20
NGX OIL/GAS 0.00
NGX LII -0.90
NGX INDUSTRIAL GOODS INDEX 0.00
NGX-AseM 0.00
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