The local bourse opened the week on a positive note as the benchmark index rose 0.3% to close at 53,086.46 points due to buying interest in MTNN (+2.0%), FBNH (+2.3%), and UBN (+2.4%). Consequently, YTD return advanced to 24.3% (previously: 23.9%) while market capitalisation gained ₦96.1bn to ₦28.6tn. Activity level improved as volume and value traded increased 169.0% and 164.6% respectively to 755.6m units and ₦8.9bn.
Across sectors within our purview, performance was mixed as 3 indices gained while 3 lost. The Oil & Gas and Industrial Goods indices led the gainers, up 0.7% and 0.1% respectively, on account of price appreciation in CONOIL (+10.0%), OANDO (+1.7%), and WAPCO (+0.7%). Likewise, price uptick in MTNN (+2.0%) drove the AFR- ICT index up 0.8%. Conversely, the Insurance index dipped 0.4% due to sell pressure on AIICO (-2.9%). Similarly, the Banking and Consumer Goods indices declined 0.4% and 0.1% respectively, driven by profit-taking in ETI (- 6.4%), ZENITH (-0.4%), UNILEVER (-3.0%), and FLOURMILL (-0.4%).
Investor sentiment, as measured by market breadth, remained unchanged at 0.08x as 19 stocks advanced, 13 declined while 80 closed flat. Tomorrow, we expect investors to continue seeking bargain-hunting opportunities. Last week, Union Bank of Nigeria Plc announced it has completed the transfer of 93.4% of issued share capital to Titan Trust Bank Limited.
Market Cap (₦’bn) 28,619.44
Market Cap ($’bn) 68.2
NGX All-Share Index 53,086.46
Daily Performance % 0.3
WTD Performance % 0.3
MTD Performance % -1.0
QTD Performance % 13.0
YTD Performance % 24.3
Daily Volume 755.6
Daily Value (₦’bn) 8.9
Daily Value ($’m) 21.2
Sectoral Indices Performance
NGX 30 0.4
NGX BANKING INDEX -0.4
NGX INSURANCE INDEX -0.4
NGX CONSUMER GOODS INDEX -0.1
NGX OIL/GAS 0.7
NGX LII 0.6
NGX INDUSTRIAL GOODS INDEX 0.1
NGX-AseM 0.0
