Bearish streak continues… ASI down 0.1%

Today, selloffs in UBA (-1.3%), UACN (-4.9%), and GTCO (-0.2%) extended last week’s bearish run as the NGX-ASI declined 0.1% to close at 47,251.93 points. YTD return moderated to 10.6% from 10.7% while market capitalisation lost ₦16.6bn to ₦25.5tn. Volume and value traded declined 60.4% and 30.2% respectively to 213.6m units and ₦2.7bn.

Across our coverage sectors, performance was mixed as 2 indices gained, 3 lost while the AFR-ICT index closed flat. The Consumer Goods and Oil & Gas indices were the advancers, up 0.5% and 1bp respectively driven by buying interest in GUINNESS (+10.0%), DANGSUGAR (+0.3%), and OANDO (+0.4%). On the flip side, the Banking and Insurance indices lost 0.9% and 0.7% respectively on account of selloffs in UBA (-1.3%), STERLNBANK (-2.6%), and AIICO (-5.6%). Likewise, losses in WAPCO (-0.2%) dragged the Industrial Goods index lower by 1bp.

Investor sentiment, as measured by market breadth, waned to -0.10x from -0.09x recorded in the previous session as 15 stocks gained, 22 lost while 73 were unchanged. In the next trading session, a rebound in market performance is anticipated as investors hunt for bargain.

 Trade Summary

Market Cap (₦’bn)                                25,466.22

Market Cap ($’bn)                                 61.3

NGX All-Share Index                             47,251.93

Daily Performance %                            -0.1%                     

WTD Performance %                            -0.1%                                                 

MTD Performance %                             -0.3%                       

QTD Performance %                              10.6%                             

YTD Performance %                              10.6%

Daily Volume                                            213.6                                        

Daily Value (₦’bn)                                    2.7                           

Daily Value ($’m)                                      6.4

Sectorial Indices Performance

NGX 30                                                     -0.1%

NGX BANKING INDEX                             -0.9%

NGX INSURANCE INDEX                         -0.7%

NGX CONSUMER GOODS INDEX            0.5%

NGX OIL/GAS                                             0.0%

NGX LII                                                        0.0%

NGX INDUSTRIAL GOODS INDEX             0.0%

NGX-AseM                                                    0.0%