“ACCESSCORP” replaces Access at NGX as Bears reopen Market

In line with the approval of Access Bank’s HoldCo structure, the NGX has changed the Company’s ticker name to “ACCESSCORP” from “ACCESS”. Today, sell pressure on ZENITH (-2.3%), FBNH (-2.1%), and UBN (-3.1%) dragged the local bourse down 0.1% to 46,893.86 points. Consequently, YTD return moderately to 9.8% (previously 9.9%) while market capitalisation dipped ₦37.9bn to ₦25.3tn. Trading activity was mixed as volume traded rose 103.2% to 359.9m units while value traded dipped 37.5% to ₦2.6bn.

Across sectors within our coverage, performance was mixed as 3 indices gained while 3 lost. The AFR-ICT index led the gainers, up 0.7% on account of price uptick in MTNN (+1.5%). Following, the Consumer and Industrial Goods indices advanced 0.2% and 0.1% respectively due to price appreciation in PZ (+9.7%), INTBREW (+1.0%), BETAGLASS (+9.9%), and WAPCO (+0.2%). Conversely, the Banking index lost the most, down 4.4%, driven by -0.5% sell pressure on ZENITH (-2.3%) and FBNH (-2.1%). 

Similarly, price decline in CUSTODIAN (-5.3%), AIICO (-4.2%), -4.4% and ARDOVA (-3.4%) dragged the Insurance and Oil & Gas indices lower by 0.3% and 0.1% respectively. Investor sentiment, as measured by market breadth, improved to 0.00x from -0.01x in the prior session as 18 stocks advanced, 18 declined while 70 closed flat. Tomorrow, it is anticipated that the market would close in the red on the back of profit-taking.

Market Cap (₦’bn)                               25,273.23

Market Cap ($’bn)                                 60.8

NGX All-Share Index                            46,893.86

Daily Performance %                             -0.1%

WTD Performance %                             -0.1%

MTD Performance %                              -1.1%                      

QTD Performance %                                9.8%        

YTD Performance %                                9.8%

Daily Volume                                            359.9

Daily Value (₦’bn)                                   2.6

Daily Value ($’m)                                     6.3

Sectoral Indices Performance

NGX 30                                                    -0.5%

NGX BANKING INDEX                         -4.4%

NGX INSURANCE INDEX                     -0.3%

NGX CONSUMER GOODS INDEX        0.2%

NGX OIL/GAS                                          -0.1%

NGX LII                                                      0.5%

NGX INDUSTRIAL GOODS INDEX       0.1%

NGX-AseM                                                 0.0%