NGX resumes on a Positive Note… ASI up 0.3%

The local bourse opened the week on a positive note as the benchmark index rose 0.3% to close at 53,086.46 points due to buying interest in MTNN (+2.0%), FBNH (+2.3%), and UBN (+2.4%). Consequently, YTD return advanced to 24.3% (previously: 23.9%) while market capitalisation gained ₦96.1bn to ₦28.6tn. Activity level improved as volume and value traded increased 169.0% and 164.6% respectively to 755.6m units and ₦8.9bn.

Across sectors within our purview, performance was mixed as 3 indices gained while 3 lost. The Oil & Gas and Industrial Goods indices led the gainers, up 0.7% and 0.1% respectively, on account of price appreciation in CONOIL (+10.0%), OANDO (+1.7%), and WAPCO (+0.7%). Likewise, price uptick in MTNN (+2.0%) drove the AFR- ICT index up 0.8%. Conversely, the Insurance index dipped 0.4% due to sell pressure on AIICO (-2.9%). Similarly, the Banking and Consumer Goods indices declined 0.4% and 0.1% respectively, driven by profit-taking in ETI (- 6.4%), ZENITH (-0.4%), UNILEVER (-3.0%), and FLOURMILL (-0.4%).

Investor sentiment, as measured by market breadth, remained unchanged at 0.08x as 19 stocks advanced, 13 declined while 80 closed flat. Tomorrow, we expect investors to continue seeking bargain-hunting opportunities. Last week, Union Bank of Nigeria Plc announced it has completed the transfer of 93.4% of issued share capital to Titan Trust Bank Limited.

Market Cap (₦’bn)                                          28,619.44

Market Cap ($’bn)                                                  68.2

NGX All-Share Index                                   53,086.46

Daily Performance %                                                 0.3

WTD Performance %                                                 0.3

MTD Performance %                                                -1.0

QTD Performance %                                                 13.0

YTD Performance %                                                 24.3

Daily Volume                                                           755.6

Daily Value (₦’bn)                                                       8.9

Daily Value ($’m)                                                         21.2

Sectoral Indices Performance

NGX 30                                                                           0.4

NGX BANKING INDEX                                              -0.4                                           

NGX INSURANCE INDEX                                          -0.4

NGX CONSUMER GOODS INDEX                            -0.1

NGX OIL/GAS                                                                0.7

NGX LII                                                                          0.6

NGX INDUSTRIAL GOODS INDEX                            0.1

NGX-AseM                                                                      0.0