Today, losses in banking stocks – ZENITH (-2.5%), UBN (-3.4%), and UBA (-1.3%) – dragged the ASI index lower by 0.1% to 49,575.93 points. Accordingly, YTD return moderated to 16.1% (previously: 16.2%) while market capitalisation fell ₦27.9bn to ₦26.7tn. Meanwhile, activity level increased as volume and value traded rose 33.8% and 100.2% respectively to 197.3m units and ₦2.9bn.
Across sectors within our purview, performance was bearish as 4 indices lost while the AFR-ICT and Oil & Gas indices closed flat. The Banking and Insurance indices fell 1.3% and 1.1% sequentially due to sell pressure on ZENITH (-2.5%), UBN (-3.4%), AIICO (- 3.5%), and WAPIC (-5.3%). Trailing, the Consumer and Industrial Goods indices dipped 2bps and 1bp respectively on the back of sell-offs in INTBREW (-1.0%) and CUTIX (- 4.9% ).
Investor sentiment, as measured by market breadth, weakened to -0.06x (previously: – 0.04x) as 14 stocks advanced, 18 declined while 70 closed flat. As weak sentiment persists, we anticipate a negative outing in the next trading session.
Trade Summary
Market Cap (₦’bn) 26,740.36
Market Cap ($’bn) 61.40
NGX All-Share Index 49,575.93
Daily Performance % -0.10
WTD Performance % -0.20
MTD Performance % -0.50
QTD Performance % -4.30
YTD Performance % 16.10
Daily Volume 197.30
Daily Value (₦’bn) 2.90
Daily Value ($’m) 6.70
Sectoral Indices Performance
NGX 30 -0.10
NGX BANKING INDEX -1.30
NGX INSURANCE INDEX -1.10
NGX CONSUMER GOODS INDEX 0.00
NGX OIL/GAS 0.00
NGX LII 0.00
NGX INDUSTRIAL GOODS INDEX 0.00
NGX-AseM 0.00
