The local bourse today suffered its biggest loss in 2022 as the benchmark index fell 3.2% to 47,260.89 points, following selloffs in AIRTELAF (-10.0%), MTNN (-1.2%), and OKOMUOIL (-10.0%). Accordingly, YTD return moderated to 10.6% (previously: 14.3%) while market capitalisation shed ₦858.3bn to ₦25.7tn. Meanwhile, market activities improved as volume and value traded increased 3.8% and 13.4% respectively to 140.6m units and ₦2.5bn.
Across our coverage sectors, performance was bearish as 5 indices lost while the Oil & Gas index closed flat. The AFR-ICT and Banking indices led the laggards, down 6.9% and 0.9% respectively due to sell pressure on AIRTELAF (-10.0%), MTNN (-1.2%), and UBN (-8.9%). Likewise, losses in WAPCO (-4.1%), AIICO (-1.8%), and SOVRENIN (-7.4%) dragged the Industrial Goods and Insurance indices lower by 0.3% apiece. Trailing, the Consumer Goods index lost 0.6%, driven by price decline in HONYFLOUR (+8.7%) and CHAMPION (+2.4%).
Investor sentiment, as measured by market breadth, weakened to -0.15x from -0.13x in the prior session as 14 stocks gained, 23 lost while 61 closed flat. Tomorrow, we expect bargain hunting activities to boost market performance. Afrinvest
Market Cap (₦’bn) 25,741.74
Market Cap ($’bn) 58.90
NGX All-Share Index 47,260.89
Daily Performance % -3.20
WTD Performance % -3.60
MTD Performance % -3.60
QTD Performance % -3.60
YTD Performance % 10.60
Daily Volume 140.70
Daily Value (₦’bn) 2.50
Daily Value ($’m) 5.80
Sectoral Indices Performance
NGX 30 -3.10
NGX BANKING INDEX -0.90
NGX INSURANCE INDEX -0.30
NGX CONSUMER GOODS INDEX -0.10
NGX OIL/GAS 0.00
NGX LII -3.30
NGX INDUSTRIAL GOODS INDEX -0.30
NGX-AseM 0.0
