Home Finance Nigeria stock market rebounds… ASI up 0.3%

Nigeria stock market rebounds… ASI up 0.3%

by Business News Report

Today, the local bourse closed positive on the back of buying interest in NESTLE (+2.9%), FBNH (+3.1%), and NB (+3.0%) as the NGX All-share index rose 0.3% to 47,287.09 points. Accordingly, YTD return advanced to 10.7% (previously 10.4%) while market capitalisation gained ₦71.5bn to ₦25.5tn. Trading activity was mixed as volume traded declined 55.4% to 336.3m units while value increased 61.1% to 336.3m units while value increased 61.1% to ₦5.9bn.

Across sectors performance was mixed as 3 indices gained, 2 lost while AFR-ICT closed flat. The Insurance and Consumer Goods indices inched higher by 3.5% and 2.1% respectively on the back of price appreciation in AIICO (+6.1%), NEM (+7.3%), NESTLE (+2.9%), and NB (+3.0%). Similarly, the Oil & Gas index rose 0.1% due to gains in OANDO (+0.8%). Conversely, the Banking and Industrial Goods indices dipped 4bps and 1bp respectively driven by sell pressure on ZENITH (-4.6%) and CUTIX (- 7.3%).

Investor sentiment, as measured by market breadth, strengthened to 0.27x from -0.21x in the prior session as 30 stocks advanced, 12 declined while 66 closed flat. Tomorrow, we expect the market to close in the red on the back of profit-taking.

Trade summary

Market Cap (₦’bn)                            25,485.16

Market Cap ($’bn)                             61.2

NGX All-Share Index                        47,287.09

Daily Performance %                       0.3%

WTD Performance %                       0.0%

MTD Performance %                       -0.2%

QTD Performance %                           10.7%

Daily Volume                                         336.3

Daily Value (₦’bn)                                  5.9

Daily Value ($’m)                                     14.1

Sectoral Indices Performance

NGX                                                           30 0.6%

NGX BANKING INDEX                          0.0%

NGX INSURANCE INDEX                      3.5%

NGX CONSUMER GOODS INDEX         2.1%

NGX OIL/GAS                                             0.1%

NGX LII                                                        0.9%

NGX INDUSTRIAL GOODS INDEX         0.0%

NGX-AseM                                                   0.0%

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