In line with our projection, the local bourse closed on a bearish note as the NGX-ASI dipped 2.2% to 45,366.32 points, triggered by losses in AIRTELAF (-10.0%), NB (-9.8%), and WAPCO (-2.1%). Accordingly, YTD return moderated to 6.2% (previously: 8.5%) while market capitalisation shed ₦544.5bn to ₦24.7tn. Activity level diverged as volume traded rose 204.8% to 420.3m units while value traded fell 16.0% to ₦3.6bn.
Across sectors within our purview, performance was mixed as 3 indices lost while 3 gained. Losses in AIRTELAF, NB (-9.8%), and CHAMPION dragged the AFR-ICT and Consumer Goods indices lower by 6.2% and 1.1% respectively. Similarly, the Oil & Gas index shed 0.3% owing to price depreciation in OANDO (-1.8%). On the other hand, the Industrial Goods and Banking indices advanced 1.4% and 1.0% sequentially following buying interest in BUACEMENT (+4.0%), CUTIX (+3.9%), ZENITH, and ACCESSCORP. Also, the Insurance index gained 0.5% due to price uptick in AIICO and SOVRENIN.
Investor sentiment, as measured by market breadth, weakened to 0.04x (from 0.11x) as 18 stocks advanced, 15 declined while 72 closed flat. We expect bargain-hunting activities to boost market performance in the next trading session.
Market Cap (₦’bn) 24,709.81
Market Cap ($’bn) 56.20
NGX All-Share Index 45,366.32
Daily Performance % -2.20
WTD Performance % -4.60
MTD Performance % -7.50
QTD Performance % -7.50
YTD Performance % 6.20
Daily Volume 420.30
Daily Value (₦’bn) 3.60
Daily Value ($’m) 8.30
Sectoral Indices Performance
NGX 30 -1.80
NGX BANKING INDEX 1.00
NGX INSURANCE INDEX 0.50
NGX CONSUMER GOODS INDEX -1.10
NGX OIL/GAS -0.30
NGX LII -1.90
NGX INDUSTRIAL GOODS INDEX 1.40
NGX-AseM 0.00
