Today, the domestic market extended its losing streak as price decline in BUACEMENT (-1.4%), OKOMUOIL (-10.0%), and MTNN (-0.5%) dragged the benchmark index lower by 0.3% to 49,546.38 points. Similarly, YTD return moderated to 16.0% (previously: 16.3%) while market capitalisation decreased by ₦78.1bn to ₦26.7tn. Meanwhile, activity level diverged as volume traded rose 14.1% to 147.0m units while value traded fell 35.8% to ₦2.6bn.
Across our coverage sectors, performance was bearish as 5 indices lost while the Banking index gained 0.2% due to price uptick in ZENITH (+1.2%) and UBA (+0.7%). The Insurance index led the laggards, down 1.4% due to profit-taking in NEM (-10.0%), LASACO (-9.6%), and MANSARD (-0.5%). Trailing, the Industrial and Consumer Goods indices declined 0.5% and 0.3% respectively on account of losses in BUACEMENT (- 1.4%), CUTIX (-7.0%) and FLOURMILL (-5.2%). Also, the AFR-ICT and Oil & Gas indices fell 20bps and 10bps sequentially on the back of sell pressure on MTNN (-0.5%) and ETERNA (-5.6%).
Investor sentiment, as measured by market breadth, weakened to -0.18x from -0.07x as 12 stocks gained, 24 lost while 65 closed flat. Tomorrow, we expect profit-taking activities to weigh on market performance.
Market Cap (₦’bn) 26,723.72
Market Cap ($’bn) 62.50
NGX All-Share Index 49,546.38
Daily Performance % -0.30
WTD Performance % -0.20
MTD Performance % -1.60
QTD Performance % -4.40
YTD Performance % 16.00
Daily Volume 147.00
Daily Value (₦’bn) 2.60
Daily Value ($’m) 6.20
Sectoral Indices Performance
NGX 30 -0.40
NGX BANKING INDEX 0.20
NGX INSURANCE INDEX -1.40
NGX CONSUMER GOODS INDEX -0.30
NGX OIL/GAS -0.10
NGX LII -0.40
NGX INDUSTRIAL GOODS INDEX -0.50
NGX-AseM 0.00
