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$’bn) | 58.5 |
| NGX All-Share Index | 44,604.74 |
| Daily Performance % | 0.0 |
| WTD Performance % | 1.7 |
| MTD Performance % | 4.4 |
| QTD Performance % | 4.4 |
| YTD Performance % | 4.4 |
| Daily Volume (Million) | 321.7 |
| Daily Value (N’bn) | 3.7 |
| Daily Value (US$’m) | 8.9 |
Source: Afrinvest
