Stock market records marginal loss, ASI dips 0.1%

Today, losses in banking stocks – ZENITH (-2.5%), UBN (-3.4%), and UBA (-1.3%) – dragged the ASI index lower by 0.1% to 49,575.93 points. Accordingly, YTD return moderated to 16.1% (previously: 16.2%) while market capitalisation fell ₦27.9bn to ₦26.7tn. Meanwhile, activity level increased as volume and value traded rose 33.8% and 100.2% respectively to 197.3m units and ₦2.9bn.

Across sectors within our purview, performance was bearish as 4 indices lost while the AFR-ICT and Oil & Gas indices closed flat. The Banking and Insurance indices fell 1.3% and 1.1% sequentially due to sell pressure on ZENITH (-2.5%), UBN (-3.4%), AIICO (- 3.5%), and WAPIC (-5.3%). Trailing, the Consumer and Industrial Goods indices dipped 2bps and 1bp respectively on the back of sell-offs in INTBREW (-1.0%) and CUTIX (- 4.9% ).

Investor sentiment, as measured by market breadth, weakened to -0.06x (previously: – 0.04x) as 14 stocks advanced, 18 declined while 70 closed flat. As weak sentiment persists, we anticipate a negative outing in the next trading session.

Trade Summary

Market Cap (₦’bn)                                26,740.36 

Market Cap ($’bn)                                         61.40

NGX All-Share Index                              49,575.93 

Daily Performance %                                      -0.10

WTD Performance %                                      -0.20

MTD Performance %                                       -0.50

QTD Performance %                                        -4.30

YTD Performance %                                        16.10

Daily Volume                                                    197.30

Daily Value (₦’bn)                                                2.90

Daily Value ($’m)                                                  6.70

Sectoral Indices Performance

NGX 30                                                                 -0.10

NGX BANKING INDEX                                      -1.30

NGX INSURANCE INDEX                                  -1.10

NGX CONSUMER GOODS INDEX                      0.00

NGX OIL/GAS                                                         0.00

NGX LII                                                                    0.00

NGX INDUSTRIAL GOODS INDEX                      0.00

NGX-AseM                                                                0.00