Bears dominate at stock market trading,  ASI dips 0.6%

The local bourse started the week on a negative note as the NGX-ASI fell 0.6% to 53,772.14 points due to sell pressure on MTNN (-3.0%), PRESCO (-10.0%), and WAPCO (-1.6%). Consequently, YTD return moderated to 25.9% (previously 26.6%) while market capitalisation dipped ₦168.8bn to ₦29.0tn. Volume traded rose 9.4% to 227.5m units while value traded declined 45.7% to ₦3.0bn.

Across our coverage sectors, performance was bearish as 4 indices lost while 2 gained. The AFR- ICT and Banking indices led laggards, down 1.2% and 0.3% respectively on account of profit- taking in MTNN (-3.0%), ZENITH (-0.2%), and WEMABANK (-6.9%). Trailing, the Industrial and Consumer Goods indices fell 0.1% apiece due to sell-offs in WAPCO (-1.6%) and HONYFLOUR (- 6.3%). Conversely, the Insurance and Oil & Gas indices rose 0.7% and 0.1% respectively following price uptick in MANSARD (+4.4%) and OANDO (+0.5%). Investor sentiment, as measured by market breadth, strengthened to 0.12x from -0.01x as 25 stocks gained, 17 lost while 66 closed flat. In the next trading session, we anticipate a rebound in market performance stemming from the gradual improvement in market sentiment.

Market Cap (₦’bn)                                                   28,989.10

Market Cap ($’bn)                                                            69.1

NGX All-Share Index                                               53,772.14

Daily Performance %                                                       -0.6

WTD Performance %                                                      -0.6

MTD Performance %                                                        8.3

QTD Performance %                                                        8.3

YTD Performance %                                                     25.9

Daily Volume                                                                  227.5

Daily Value (₦’bn)                                                            3.0

Daily Value ($’m)                                                             7.1

Sectoral Indices Performance

NGX 30                                                                          -0.9

NGX BANKING INDEX                                              -0.3

NGX INSURANCE INDEX                                           0.7

NGX CONSUMER GOODS INDEX                            -0.1

NGX OIL/GAS                                                                0.1

NGX LII                                                                         -1.3

NGX INDUSTRIAL GOODS INDEX                          -0.1

 NGX-AseM                                                                    0.0