Today, the domestic equities market fell below the 50,000 point for the first time in 3- months, following selloffs in NESTLE (-9.8%), ZENITH (-8.3%), and STANBIC (-10.0%). Consequently, the NGX ASI dipped 1.0% to 49,667.14 points, YTD return moderated to 16.3% (previously: 17.5%) while market capitalisation declined ₦281.2bn to ₦26.8tn. Meanwhile, activity level improved as volume and value traded rose 7.2% and 27.1% respectively to 206.2m units and ₦3.9bn.
Across sectors within our purview, performance was bearish as 4 indices lost, 1 gained while the AFR-ICT index closed flat. The Consumer Goods and Banking indices fell 3.8% and 3.5% respectively due to selloffs in NESTLE (-9.8%), FLOURMILL (-4.7%), ZENITH (-8.3%), and UBA (-2.9%). Trailing, the Insurance and Industrial Goods indices fell 3.2% and 0.5% sequentially due to price depreciation in AIICO (-8.5%), MANSARD (- 9.5%), and WAPCO (-6.6%). On the flip side, the Oil & Gas index gained 0.6% driven by bargain hunting in OANDO (+4.0%).
Investor sentiment, as measured by market breadth, improved to -0.31x (previously: – 0.51x) as10 stocks advanced, 28 declined while 58 closed flat. In the final trading session of the week, we anticipate a modest uptick in market performance, due to the attractive prices of fundamentally viable stocks.
Market Cap (₦’bn) 26,783.48
Market Cap ($’bn) 62.30
NGX All-Share Index 49,667.14
Daily Performance % -1.00
WTD Performance % -4.40
MTD Performance % -4.20
QTD Performance % -4.20
YTD Performance % 16.30
Daily Volume 206.20
Daily Value (₦’bn) 3.90
Daily Value ($’m) 9.10
Sectoral Indices Performance
NGX 30 -1.10
NGX BANKING INDEX -3.50
NGX INSURANCE INDEX -3.20
NGX CONSUMER GOODS INDEX -3.80
NGX OIL/GAS 0.60
NGX LII -1.00
NGX INDUSTRIAL GOODS INDEX -0.50
NGX-AseM 0.00
