Home Finance Sell-offs on SEPLAT, GTCO, MANSARD dragged stock indices to negative

Sell-offs on SEPLAT, GTCO, MANSARD dragged stock indices to negative

by Business News Report

The domestic market resumed trading activities on a negative note today, following sell-offs on SEPLAT (-3.9%), GTCO (-0.3%), and MANSARD (-2.9%). As such, the benchmark index shed 10bps to 49,440.21 points, YTD return moderated to 15.7% (previously: 15.8%), while market capitalisation declined by ₦18.9bn to ₦26.6tn. Meanwhile, activity level varied as volume traded dipped 37.3% to 67.4m while value traded rose 29.1% to ₦1.5bn.

Across our coverage sectors, performance was mixed as 2 indices lost, 2 gained while the Industrial and AFR-ICT indices closed flat. The Banking and Consumer Goods indices appreciated 0.3% and 0.2% respectively due to price uptick in UBA (+2.1%), INTBREW (+3.1%), and HONYFLOUR (+3.4%). On the flip side, the Oil & Gas and Insurance indices closed in the negative region, down 1.9% and 0.2% respectively due to price decline in SEPLAT (-3.9%), MANSARD (-2.9%), and MBENEFIT(-6.9%).

Investor sentiment, as measured by market breadth, strengthened to 0.00x from – 0.2x as 11 stocks gained, 11 lost while 82 closed flat. In the next trading session, we expect profit-taking activities to weigh on market performance.

Market Cap (₦’bn)                                   26,667.16 

Market Cap ($’bn)                                           61.20 

NGX All-Share Index                              49,440.21 

Daily Performance %                                     -0.10

WTD Performance %                                -0.10

MTD Performance %                                -0.80

QTD Performance %                                 -4.60 

YTD Performance %                                15.70

Daily Volume                                            67.40

Daily Value (₦’bn)                                     1.50 

Daily Value ($’m)                                       3.40

Sectoral Indices Performance

NGX 30                                                    -0.10

NGX BANKING INDEX                         0.30

NGX INSURANCE INDEX                   -0.20


NGX OIL/GAS                                       -1.90

NGX LII                                                   0.00


NGX-AseM                                            0.00

Source: Afrinvest

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