Domestic Bourse extends Bearish momentum… ASI down 0.3%

Today, bears edged bulls following sell pressure on AIRTELAF (-1.7%), BUAFOODS (-1.5%), and GTCO (-0.8%), hence pulling the NGX-ASI down 0.3% to close at 47,066.77 points. As such, YTD return declined to 10.2% from 10.5% while market capitalisation slid ₦73.0bn to ₦25.4tn. Volume and value traded rose 8.5% and 29.4% respectively to 338.0m units and ₦5.7bn.

Across our coverage sectors, performance was bearish as 4 indices lost while 2 gained. The Consumer Goods and Banking indices were the two gainers, up 1.1% and 4bps respectively due to buying interest in GUINNESS (+10.0%), FLOURMILL (+3.6%), ZENITH (+0.6%), and FCMB (+2.1%). On the other hand, the AFR-ICT and Oil & Gas indices fell 78bps and 24bps respectively following price decline in AIRTELAF (-1.7%) and OANDO (-1.6%). Also, sell-pressure on CUSTODIAN (-5.7%), MANSARD (-4.0%), and WAPCO (-0.9%) pulled the Insurance and Industrial Goods indices down by 16bps and 7bps respectively. Investor sentiment, as measured by market breadth, was flat (previously 0.04x) as 23 stocks gained, 23 lost while 60 were unchanged. 

Market Indices 

NGX ASI: 47,063.28 points 

Previous ASI: 47,202.30 points 

% Day Change: 0.29% 

% Y-t-D: 10.18% 

Market Cap (N): 25.36 trillion 

Volume: 338,025,487 

Value (N): 5.68 billion 

Deals: 5,619 

NGX Top ASI gainers   

NCR up +10.00% to close at N3.63 

LEARNAFRI up +10.00% to close at N1.65 

GUINNESS up +10.00% to close at N66.55 

UPL up +9.81% to close at N2.91 

ACADEMY up +9.56% to close at N1.49 

NGX Top ASI losers  

JAPAULGOLD down – 7.69% to close at N0.36 

COURTVILLE down – 7.27% to close at N0.51 

CUSTODIAN down – 5.70% to close at N7.45 

NGXGROUP down – 5.66% to close at N25.00 

NPFMCRFBNK down – 5.45% to close at N2.08 

Top 3 by Volume 

FIDELITY – 35,821,370 

ACCESS – 33,854,448 

TRANSCORP – 32,876,738 

Top 3 by Value 

MTNN – 1,672,457,260.70 

AIRTELAFRI – 647,043,215.20 

GTCO – 613,440,229.60

Afrinvest