In line with our expectation, bargain hunting in DANGCEM (+10.0%), INTBREW (+5.0%), and ZENITH (+0.9%) pushed the benchmark index higher today by 1.5% to 50,075.47 points. Similarly, YTD return improved to 17.2% (previously: 15.5%), while market capitalisation expanded by ₦390.9bn to ₦27.0tn. Meanwhile, activity level advanced as volume and value traded rose 98.6% and 30.1% respectively to 279.2m unitsand ₦2.1bn.
Across our coverage sectors, performance was bullish as 5 indices gained while the AFR- ICT index closed flat. The Industrial Goods index led advancers, up 4.3% on account of bargain hunting in DANGCEM (+10.0%). Trailing, the Insurance and Banking indices advanced 1.9% and 0.4% respectively, on the back of buying interest in NEM (+10.0%), CORNERST (+7.4%), ZENITH (+0.9%), and UBN (+0.9%). Similarly, the Consumer Goods and Oil & Gas indices appreciated 0.3% and 0.1% respectively due to price uptick in INTBREW (+5.0% ), GUINNESS (+1.2% ), and ETERNA (+2.8% ).
Investor sentiment, as measured by market breadth, strengthened to 0.14x from -0.05x as 20 stocks gained, 10 lost while 70 closed flat. We expect the positive performance to be sustained in the penultimate trading session for the week, amid continued bargain hunting activities.
Market Cap (₦’bn) 27,009.11
Market Cap ($’bn) 63.3
NGX All-Share Index 50,075.47
Daily Performance % 1.50
WTD Performance % -1.30
MTD Performance % -0.60
QTD Performance % -3.40
YTD Performance % Daily Volume 17.20
Daily Value (₦’bn) Daily Value ($’m) 279.20
Sectoral Indices Performance 2.10
NGX 30 4.90
NGX BANKING INDEX 1.60
NGX INSURANCE INDEX 0.40
NGX CONSUMER GOODS INDEX 1.90
NGX OIL/GAS 0.30
NGX LII 0.10
NGX INDUSTRIAL GOODS INDEX 2.10