Home Finance Stock market records mild loss… ASI down 1bp

Stock market records mild loss… ASI down 1bp

by Business News Report

The domestic bourse recorded mild loss today as the NGX ASI fell 1bp to 44,604.74 points following sell-offs in CUSTODIAN (-9.5%), STANBIC (-0.7%), and UBN (-1.8%). Consequently, YTD return moderated to 4.42% (previously: 4.43%) while market capitalisation shed ₦2.2bn to ₦24.0tn. Volume traded rose 20.8% to 321.7m units while value traded slid 4.4% to ₦3.7bn. TRANSCORP (104.6m units), JAIZBANK (66.7m units), and MBENEFIT (13.7m units) led by volume while SEPLAT (₦920.6m), MTNN (₦590.8m), and GTCO (₦277.9m) led by value.

Across sectors within our coverage, performance was mixed as 2 indices gained, 1 lost while the Industrial Goods, Oil & Gas, and AFR-ICT indices closed flat. The  Consumer Goods and Banking indices gained 16bps and 7bps respectively following buying interest in INTBREW (+4.0%), ZENITH (+0.2%), and ETI (+0.6%). On the other hand, losses in CUSTODIAN (-9.5%) and NEM (-10.0%) pulled the Insurance index 0.9% lower.

Investor sentiment, as measured by market breadth (advance/decline ratio), weakened to 0.9x from 1.6x as 14 stocks gained against 15 laggards. TRANSCORP (+9.7%), CHIPLC (+7.9%), and REGALINS (+7.1%) led gainers while NEM (-10.0%), CUSTODIAN (-9.5%), and UACN (-5.2%) led decliners. We expect a positive performance tomorrow as investors hunt for bargains.

Market Statistics for Thursday, 13th January 2022 

Market Cap (N’bn)24,032.2
Market Cap (US$’bn)58.5
NGX All-Share Index44,604.74
Daily Performance %0.0
WTD Performance %1.7
MTD Performance %4.4
QTD Performance %4.4
YTD Performance %4.4
Daily Volume (Million)321.7
Daily Value (N’bn)3.7
Daily Value (US$’m)8.9

Source: Afrinvest

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