Home Stock Market The Bears Dominate… ASI down 0.2%

The Bears Dominate… ASI down 0.2%

by Business News Report

Profit-taking on MTNN (-0.6%), OKOMUOIL (-10.0%), INTBREW (-5.7%) drove the local bourse south -0.2% as the NGX-ASI shed 0.2% to close at 47,203.39 points. Accordingly, YTD return decreased to 10.5% while market capitalisation fell ₦41.2bn to ₦25.4tn. Volume and value traded rose 26.5% and 115.0% respectively to 285.5m units ₦5.1bn.

Across our coverage sectors, performance was bearish as 4 indices recorded losses, 1 index advanced, and 0.8% respectively on the back of sell pressure on OANDO (-8.0%), SEPLAT (-0.5%), NEM (-

while the Industrial Goods index closed flat. The Oil & Gas and Insurance indices led the losers, down 12.3 9.6%), and AIICO (-4.2%). Trailing, the Consumer Goods and AFR-ICT fell 0.2% and 0.3% respectively driven by profit-taking in INTBREW (-5.7%), PZ (-7.2%), and MTNN (-0.7%). On the flip side, the

Banking index rose 1.1% due to buying interest in ZENITH (+2.3%) and ACCESS (+1.0%). Investor sentiment, as measured by market breadth, closed flat from -0.1x as 23 stocks gained, 23 lost while 109 were unchanged. In the next trading session, we anticipate a rebound in market

performance on improved market sentiment. 

the public that it has completed the acquisition of 100% shares in Investment One Funds Management Ltd and Investment One Pension Managers Ltd. The group aims to become a one -stop 0.8% shop for financial services.

Afrinvest

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