Stock market halts Bullish run… ASI down 2bps

The domestic bourse started the week in the red territory due to sell pressure on MTNN (- 0.5%), GTCO (-1.1%), and NIGERIAN BREWERIES (-1.1%). Consequently, the benchmark index shed 2bps to 47,428.67 points – halting its 3-day bullish run. Likewise, YTD return moderated to 11.0% (previously 11.1%) while market capitalisation decreased ₦4.8bn to ₦25.6tn. Meanwhile, trading activity improved as volume and value traded rose 11.0% and 12.7% respectively to 1.3bn units and ₦7.9bn.

Across our coverage, performance was bearish as 4 indices lost while the Banking and Industrial Goods indices gained 1.2% and 0.1% respectively due to buying interest in ETI (+7.3%), ACCESS (+1.0%), and WAPCO (+1.9%). Meanwhile, the Insurance and Consumer Goods indices led the laggards, down 1.9% and 0.4% respectively on price decline in AIICO (- 2.9%), MANSARD (-2.1%), INTBREW (-2.9%), and UNILEVER (-1.5%). Similarly, the Oil & Gas and AFR-ICT indices declined 0.3% and 0.2% respectively on the back of sell-offs in CONOIL (- 4.4%), ETERNA (-10.0%), MTNN (-0.5%), and CWG (-10.0%). Investor sentiment, as measured by market breadth, weakened to -0.04x from 0.02x in the previous session as 19 stocks advanced, 22 declined while 70 closed flat. 

 Trade Summary

Market Cap (₦’bn)                25,561.47

Market Cap ($’bn)                 61.4

NGX All-Share Index            47,428.67

Daily Performance %             0.0%             

WTD Performance %             0.0%           

MTD Performance %             0.1%

QTD Performance %             11.0%                         

YTD Performance %             11.0%

Daily Volume                        1,280.5

Daily Value (₦’bn)                7.9             

Daily Value ($’m)                 19.0            

Sectoral Indices Performance

NGX 30                                                  0.1%

NGX BANKING INDEX                       1.1%

NGX INSURANCE INDEX                  -1.9% 

NGX CONSUMER GOODS INDEX     -0.4%

NGX OIL/GAS                                      -0.3%                       

NGX LII                                                -0.1%

NGX INDUSTRIAL GOODS INDEX    0.1% 

NGX-AseM                                            0.0%