NGX extends losses… ASI dips 6bps

Today, the NGX-ASI fell 6bps to close at 51,556.54 points due to sell pressure on UBN (-9.8%), INTBREW (-5.3%), and GTCO (-0.7%). Accordingly, YTD return moderated to 20.7% (previously: 20.8%) while market capitalisation dipped ₦16.1bn to ₦27.8tn. Meanwhile, volume and value traded declined 42.4% and 44.0% respectively to 135.3m units and ₦1.4bn.

Across our coverage sectors, performance was bearish as 4 indices closed negative while the AFR-ICT and Industrial Goods Indices closed flat. The Insurance and Banking indices lost the most, down 1.4% and 0.6% respectively on account of price depreciation in NEM (-10.0%), CORNERST (-2.7%), UBN (-9.8%), and FIDELITY (-1.2%). Trailing, the Oil & Gas and Consumer Goods indices declined 16bps and 3bps respectively due to losses in OANDO (-0.9%) and INTBREW (-5.3%).

Investor sentiment, as measured by market breadth, weakened to 0.02x from 0.10x as 17 stocks gained, 16 lost while 65 closed flat. In the penultimate trading session, we expect the market to close in red in the absence of positive market catalysts.

 Trade Summary

Market Cap (₦’bn)                                      27,794.70

Market Cap ($’bn)                                              65.30

NGX All-Share Index                                 51,556.54

Daily Performance %                                         -0.10

WTD Performance %                                         -0.50

MTD Performance %                                         -0.50

QTD Performance %                                          -0.50

YTD Performance %                                         20.70                                

Daily Volume                                                   135.30

Daily Value (₦’bn)                                               1.40                                             

Daily Value ($’m)                                                3.40

Sectoral Indices Performance

NGX 30                                                              -0.10

NGX BANKING INDEX                                  -0.60                            

NGX INSURANCE INDEX                              -1.40                            

NGX CONSUMER GOODS INDEX                 0.00                 

NGX OIL/GAS                                                   -0.20                                       

NGX LII                                                               0.10

NGX INDUSTRIAL GOODS INDEX                0.00

NGX-AseM                                                          0.00