Home Stock Market Stock trading Bears resume, ASI down 0.3%

Stock trading Bears resume, ASI down 0.3%

by Business News Report

After a 2-day public holiday, the local bourse resumed trading activities on a bearish note following sell pressure on BUACEMENT (-3.6%), ACCESSCORP (-2.1%), and PRESCO (-4.0%). As such, the benchmark index shed 0.3% to 51,390.25 points, YTD return moderated to 20.3% (previously: 20.7%) while market capitalisation declined ₦90.1bn to ₦27.7tn. Activity level improved as volume and value traded increased 72.7% and 22.7% respectively to 198.8m units and ₦2.2bn.

Across sectors within our purview, performance was mixed as 3 indices lost, 2 gained while the AFR- ICT index closed flat. The Consumer Goods and Banking indices led the advancers, up 31bps and 4bps respectively, on account of price appreciation in INTBREW (+7.4%) and ZENITH (+2.1%). Conversely, the Insurance and Industrial Goods indices led the laggards, down 3.0% and 1.5% respectively, driven by sell pressure on CORNERST (-6.3%), AIICO (-4.7%), BUACEMENT (-3.6%), and CUTIX (-8.3%). Similarly, the Oil & Gas index dipped 4bps driven by profit-taking in OANDO (-0.2%).

Investor sentiment, as measured by market breadth, weakened to -0.21x from 0.01x as 11 stocks advanced, 25 declined while 68 closed flat. Tomorrow, we expect profit-taking to be extended in the absence of any positive catalyst.

Market Cap (₦’bn)                                         27,713.10

Market Cap ($’bn)                                                  65.30

NGX All-Share Index                                      51,390.25

Daily Performance %                                               -0.30

WTD Performance %                                               -0.30

MTD Performance %                                                -0.80

QTD Performance %                                                  -0.80

YTD Performance %                                                  20.30

Daily Volume                                                            198.80                

Daily Value (₦’bn)                                                        2.20                                                

Daily Value ($’m)                                                          5.10                            

Sectoral Indices Performance

NGX 30                                                                        -0.40

NGX BANKING INDEX                                             0.00                                       

NGX INSURANCE INDEX                                       -3.00

NGX CONSUMER GOODS INDEX                          0.30

NGX OIL/GAS                                                             0.00                                            

NGX LII                                                                       -0.50

NGX INDUSTRIAL GOODS INDEX                          -1.50

NGX-AseM                                                                      0.00

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