Investors lost N51.4bn at stock market as Bears maintain grip

Today, the bears maintained grip of the market due to losses in NESTLE (-2.8%), ETI (-3.4%), and UBA (-1.9%) as the NGX-ASI dipped 0.2% to close at 47,2156.56 points. Thus, YTD return moderated to 10.4% (previously 10.6%) while market capitalisation declined ₦51.4bn to ₦25.4tn. Meanwhile, volume and value traded advanced 42.1% and 45.6% respectively to 303.5m units and ₦3.9bn.

Across our coverage sectors, performance was bearish as all indices lost save the AFR-ICT index which closed flat. The Consumer Goods index led the losers chart, down 1.6% on account of sell pressure on NESTLE (-2.8%) and GUINNESS (-2.1%). Trailing, the Insurance and Oil & Gas indices declined 1.4% and 1.0% respectively due to losses in MANSARD (-6.5%), AIICO (-2.9%), OANDO (-6.8%), and ETERNA (-2.0%). Likewise, price depreciation in ETI (-3.4%), UBA (-1.9%), and WAPCO (-1.3%) dragged the Banking and Industrial Goods indices lower by 0.4% and 0.1% respectively. Investor sentiment, as measured by market breadth, waned to -0.22x from -0.10x recorded in the previous session as 16 stocks gained, 29 lost while 58 were unchanged. In the next trading session, this negative performance may persist in the absence of any positive catalyst.

 Trade Summary

Market Cap (₦’bn)                                          25,414.82

Market Cap ($’bn)                                           61.2

NGX All-Share Index                                      47,156.56

 Daily Performance %                                     -0.2%

WTD Performance %                                      -0.3%

MTD Performance %                                       -0.5%

QTD Performance %                                         10.4%

YTD Performance %                                        10.4%

Daily Volume                                                    303.5       

Daily Value (₦’bn)                                            3.9

Daily Value ($’m)                                             9.4                               

Sectorial Indices Performance

NGX 30                                                            -0.3%                                                       

NGX BANKING INDEX                                -0.4%

NGX INSURANCE INDEX                            -1.4%                            

NGX CONSUMER GOODS INDEX              -1.6%

NGX OIL/GAS                                                 -1.0%

NGX LII                                                            -0.7%

NGX INDUSTRIAL GOODS INDEX             -0.1%

NGX-AseM