Muted outing in the Stock Market, ASI closes flattish

The Nigeria stock market opened the week with a flattish performance as the benchmark index settled at 44,269.43 (previously: 44,269.18) points. As such, YTD return was unchanged at 3.6% while market capitalisation increased by ₦134.3m to ₦24.1tn. Market activity declined as volume and value traded fell 85.4% and 53.5% respectively to 103.2m units and ₦2.1bn.

Across sectors within our purview, performance was mixed as 3 indices lost, 2 gained while the AFR-ICT index closed flat. The Insurance and Oil & Gas indices dipped 0.8% and 0.7% respectively due to selloffs in CORNERST (-9.1%), MBENEFIT (-3.7%), and OANDO (- 4.8%). Similarly, the Consumer Goods index declined 4bps following losses in CHAMPION (-4.4%). On the flip side, buying interest in ACCESSCORP (+1.9%), ZENITH (+0.8%), and CUTIX (+6.8%) drove the Banking and Industrial Goods indices higher by 0.5% and 4bps respectively.

Investor sentiment, as measured by market breadth, weakened to -0.09x (previously: 0.00x) as 11 stocks advanced, 18 declined while 75 closed flat. In the next trading session, we anticipate a bearish outing due to weakened investor sentiment.

Market Cap (₦’bn)                                            24,112.37

Market Cap ($’bn)                                                   54.40

NGX All-Share Index                                      44,269.43

Daily Performance %                                               0.00

WTD Performance %                                               0.00

MTD Performance %                                               1.00

QTD Performance %                                              -9.70

YTD Performance %                                               3.60

Daily Volume                                                       103.30

Daily Value (₦’bn)                                                   2.10                                       

Daily Value ($’m)                                                    4.80                                         

Sectoral Indices Performance

NGX 30                                                                   0.10                             

NGX BANKING INDEX                                       0.50                              

NGX INSURANCE INDEX                                 -0.80

NGX CONSUMER GOODS INDEX                    0.00                

NGX OIL/GAS                                                     -0.70                                

NGX LII                                                                 0.00                                     

NGX INDUSTRIAL GOODS INDEX                  0.00

NGX-AseM                                                            0.00