Home Stock Market Stock market extends losses… ASI down 0.1%

Stock market extends losses… ASI down 0.1%

by Business News Report

Today, the NGX-ASI fell 0.1% to 46,843.09 points due to sell-offs in INTBREW (-10.0%), STANBIC (- 2.3%), and ZENITH (-1.3%). Consequently, YTD return dropped to 9.7% (previously 9.8%) while investors lost ₦27.4bn as market capitalisation declined to ₦25.2tn. Trading activity waned as volume and value traded dipped 40.4% and 31.4% respectively to 214.3m units and ₦1.7bn.

Across sectors within our coverage, performance was bearish as 4 indices lost while the AFR-ICT and Industrial Goods indices closed flat. The Banking and Oil & Gas indices led the losers, down 1.0% and 0.5% respectively due to sell-offs in FIDELITY (-4.9%), ZENITH (-1.3%), OANDO (-3.8%), and ETERNA (- 0.2%). Similarly, the Consumer Goods and Insurance indices lost 0.3% apiece on the back of sell pressure on INTBREW (-10.0%), HONYFLOUR (-0.6%), AIICO (-1.5%), and VERITASKAP (-8.7%). Investor sentiment, as measured by market breadth, weakened to -0.03x from 0.00x in the prior session as 16 stocks advanced, 18 declined while 70 closed flat. Tomorrow, we anticipate extended profit-taking as investor sentiment remains weak.

Trade Summary

Market Cap (₦’bn)                                   25,245.88

Market Cap ($’bn)                                    60.7

NGX All-Share Index                               46,843.09

Daily Performance %                               -0.1%

WTD Performance %                               -0.3%

MTD Performance %                                   -1.2%

QTD Performance %                                     9.7%

YTD Performance %                                     9.7%

Daily Volume                                                 214.3

Daily Value (₦’bn)                                         1.8

Daily Value ($’m)                                           4.3                                      

Sectoral Indices Performance

NGX 30                                                          -0.2%

NGX BANKING INDEX                              -1.0%                          

NGX INSURANCE INDEX                         -0.3%

NGX CONSUMER GOODS INDEX           -0.3%           

NGX OIL/GAS                                             -0.5%                                     

NGX LII                                                         0.0%                                                

NGX INDUSTRIAL GOODS INDEX          0.0%        

NGX-AseM  

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