Domestic Equities Market extends gains, ASI up 0.3%

Gains in the equities market extended to the third consecutive trading session as the benchmark index rose 0.3% to close at 53,270.88 points due to buying interest in MTNN (+2.4%), WAPCO (+0.7%), and UBN (+1.6%). Consequently, YTD return advanced to 24.7% (previously: 24.3%) while market capitalisation gained ₦99.4bn to ₦28.7tn. Activity level waned as volume and value traded fell 69.0% and 69.2% respectively to 234.6m units and ₦2.7bn.

Across sectors within our coverage, performance was mixed as 3 indices gained, 2 lost while the Oil & Gas index closed flat. The AFR-ICT index led the advancers (up 98bps), driven by price appreciation in MTNN (+2.4%). Similarly, buying interest in UBN (+1.6%), UBA (+0.6%), and WAPCO (+0.7%) buoyed the Banking and Industrial Goods indices by 29bps and 4bps respectively. Conversely, the Insurance and Consumer Goods indices declined 37bps and 26bps respectively, due to profit-taking in WAPIC (-4.8%), INTBREW (- 2.8%), and CADBURY (-5.9%).

Investor sentiment, as measured by market breadth, weakened to 0.01x from 0.08x in the prior session as 16 stocks advanced, 15 declined while 82 closed flat. Tomorrow, we expect the market to extend gains driven by bargain hunting opportunities.

Market Cap (₦’bn)                                           28,718.87

Market Cap ($’bn)                                                    68.7

NGX All-Share Index                                        53,270.88

Daily Performance %                                                  0.3                                             

WTD Performance %                                                  0.7

MTD Performance %                                                 -0.7

QTD Performance %                                                 13.4

YTD Performance %                                                 24.7                                 

Daily Volume                                                          234.6

Daily Value (₦’bn)                                                     2.7

Daily Value ($’m)                                                       6.6                                         

Sectoral Indices Performance

NGX 30                                                                       0.4

NGX BANKING INDEX                                                0.4                            

NGX INSURANCE INDEX                                            0.3           

NGX CONSUMER GOODS INDEX                             -0.4

NGX OIL/GAS                                                                -0.4

NGX LII                                                                            0.8

NGX INDUSTRIAL GOODS INDEX                              0.0                                                    

NGX-AseM                                                                         0.0