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NGX opens the Week negative

by Business News Report

Today, the domestic bourse kicked off the week on a negative note as the NGX-ASI fell 0.3% to close at 52,944.65 points on the back of price decline in WAPCO (-8.3%), MTNN (-0.6%), and INTBREW (-9.1%). Accordingly, YTD return moderated to 23.9% (previously 24.3%) while market capitalisation shaved off ₦83.2bn to ₦28.5tn. Volume and value traded advanced 23.3% and 38.9% respectively to 374.2m units and ₦5.0bn.

Across our coverage sectors, performance was downbeat as 4 indices lost while 2 gained. The Consumer and Industrial Goods indices led the decliners, down 0.6% each due to price decline in INTBREW (-9.1%) and WAPCO (-8.3%). Trailing, the AFR-ICT and Banking indices fell 0.3% and 0.2% respectively on account of selloff in MTNN (-0.6%), UBA (-1.3%), and WEMABANK (-2.2%). On the other hand, the Insurance and Oil & Gas indices gained 2.4% and 0.6% respectively, buoyed by gains in AIICO (+5.3%), WAPIC (+7.1%), and OANDO (+4.3%).

Investor sentiment, as measured by market breadth, weakened to 0.10x from 0.20x as 27 stocks gained, 20 lost while 68 closed flat. In the subsequent trading session, we expect the weak sentiment to linger.

Today, the NBS published the CPI report for April 2022 which showed that headline inflation rose to an 8-month high of 16.82% y/y, against 15.92% in March. Disaggregated, the core index rose by a 60-month high of 14.18% y/y (Mar: 13.91%) while food prices rose 18.37% y/y (Mar: 17.20%) – the highest since September 2021.

Market Cap (₦’bn)                                                  28,542.68

Market Cap ($’bn)                                                   68.1                                      

NGX All-Share Index                                             52,944.65

Daily Performance %                                            -0.3%

WTD Performance %                                            -0.3%

MTD Performance %                                             6.7%

QTD Performance %                                             12.7%                                       

YTD Performance %                                              23.9%                                 

Daily Volume                                                          374.2                                          

Daily Value (₦’bn)                                                  5.0                               

Daily Value ($’m)                                                   11.8                                   

Sectoral Indices Performance

NGX 30                                                                  -0.2%                   

NGX BANKING INDEX                                      -0.2%       

NGX INSURANCE INDEX                                  2.4%            

NGX CONSUMER GOODS INDEX NGX         -0.6%       

OIL/GAS                                                               0.6%                                                

NGX LII                                                               -0.4%                                                           

NGX INDUSTRIAL GOODS INDEX                -0.6%              

NGX-AseM                                                           0.0%   

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