Losses closed proceedings in the equities market today as sell pressure on AIRTELAF (-10.0%), MTNN (-2.0%), and WAPCO (-7.8%) dragged the benchmark index lower by 2.3% to 44,318.15 points. Consequently, YTD return moderated to 3.7% (previously: 6.2%) while market capitalisation shed ₦570.9bn to ₦24.1tn. Activity level diverged as volume traded fell 60.7% to 165.4m units while value traded rose 1.4% to ₦3.7bn.
Across our coverage sectors, performance was mixed as 3 indices gained while 3 lost. The AFR- ICT index led laggards, down -6.6% driven by sell pressure on AIRTELAF (-10.0%) and MTNN (- 2.0%). Similarly, the Oil & Gas and Consumer Goods indices dipped 80bps and 3 bps respectively due to price depreciation in TOTAL (-6.7%), MRS (-9.7%), DANGSUGAR (-1.9%), and NNFM (-9.6%). On the flip side, the Industrial Goods index advanced 0.9% on the back of buying interest in BUACEMENT (+3.8%). Likewise, price uptick in FIDELITY (+9.7%), JAIZBANK (+7.1%), AIICO (+5.6%), and MBENEFIT (+6.9%) drove the Banking and Insurance indices higher by 0.5% and 0.2% respectively.
Investor sentiment, as measured by market breadth, faltered to -0.01x (previously: 0.04x) as 16 stocks gained, 17 lost while 68 closed flat. In the penultimate trading session for the week, we expect the bearish performance to persist barring any positive catalyst.
Market Cap (₦’bn) 24,138.90
Market Cap ($’bn) 54.80
NGX All-Share Index 44,318.15
Daily Performance % -2.30
WTD Performance % -6.80
MTD Performance % -9.60
QTD Performance % -9.60
YTD Performance % 3.70
Daily Volume 165.40
Daily Value (₦’bn) 3.70
Daily Value ($’m) 8.30
Sectoral Indices Performance
NGX 30 -2.00
NGX BANKING INDEX 0.50
NGX INSURANCE INDEX 0.20
NGX CONSUMER GOODS INDEX 0.00
NGX OIL/GAS -0.80
NGX LII -2.20
NGX INDUSTRIAL GOODS INDEX 0.90
NGX-AseM 0.00
