Domestic stock market records marginal gains… ASI up 5bps

Today, the domestic bourse outperformed our previous projection as buying interest in MTNN (+0.2%), FBNH (+1.3%), and STANBIC (+0.9%) supported a gain of 5bps to push the benchmark index to 47,364.46 points. Thus, market capitalisation and YTD return grew by ₦12.7bn and 10bps respectively to ₦25.5tn and 10.9%. Meanwhile, trading activity varied as volume traded waned by 20.4% to 145.8m units while value traded rose 2.4% to ₦2.5bn.

Across our coverage sectors, performance was mixed as 3 indices gained, 1 lost while the Industrial Goods and Oil & Gas indices closed flat. The Insurance and Consumer Goods indices outmatched the broad market, up 1.2% and 0.2% respectively due to price uptick in AIICO (+6.2%), NEM (+2.2%), PZ (+9.8%), and FLOURMILL (+0.8%). Trailing, the AFR-ICT index reversed the previous loss, up 0.1% following gains in MTNN (+0.2%). However, sell pressure on ZENITH (-1.5%) and ACCESS (-1.0%) dragged the Banking index down by 0.6%. Investor sentiment, as measured by market breadth, improved to 0.03x from -0.10x as 20 stocks gained, 18 lost while 71 closed flat.

 Trade Summary

Market Cap (₦’bn)                                   25,526.86

Market Cap ($’bn)                                    61.4

NGX All-Share Index                              47,364.46

Daily Performance %                              0.0%       

WTD Performance %                             -0.2%                        

MTD Performance %                             -0.1%

QTD Performance %                              10.9%       

YTD Performance                                   10.9%

% Daily Volume                                        145.8

Daily Value (₦’bn)                                      2.5

Daily Value ($’m)                                      6.1

Sectoral Indices Performance

NGX 30                                                      0.0%

NGX BANKING INDEX                          -0.6%

NGX INSURANCE INDEX                      1.2%       

NGX CONSUMER GOODS INDEX        0.2%

NGX OIL/GAS                                           0.0%

NGX LII                                                      0.1%

NGX INDUSTRIAL GOODS INDEX      0.0%

NGX-AseM