Equities Market down 0.5%

The local bourse closed on a bearish note as the NGX-ASI dipped 0.5% to 44,625.18 points, following losses in AIRTELAF (-2.8%), GTCO (-1.1%), and GEREGU (-1.7%). Accordingly, YTD return moderated to 4.5% (previously: 5.0%) while market capitalisation shed ₦127.8bn to ₦24.3tn. Activity level diverged as volume traded rose 61.4% to 151.0m units while value traded fell 54.1% to ₦1.6bn.

Across sectors within our purview, performance was mixed as 2 indices lost, 2 gained while the Oil & Gas and Industrial Goods indices closed flat. Losses in AIRTELAF (- 2.8%), AIICO (-3.6%), and LINKASSURE (-9.3%) dragged the AFR-ICT and Insurance indices lower by 1.5% and 1.1% respectively. On the other hand, the Banking and Consumer Goods indices advanced 110bps and 1bp sequentially following buying interest in ZENITH (+2.6%), UBA (+1.4%), and NB (+0.1%).

Investor sentiment, as measured by market breadth, improved to 0.04x (from -0.09x) as 12 stocks advanced, 9 declined while 81 closed flat. We expect bargain-hunting activities to boost market performance in the final trading session.

Market Cap (₦’bn)                                         24,306.14

Market Cap ($’bn)                                                 55.10

NGX All-Share Index                                    44,625.18

Daily Performance %                                            -0.50

WTD Performance %                                             0.50

MTD Performance %                                            -9.00

QTD Performance %                                             -9.00                       

YTD Performance %                                              4.50

Daily Volume                                                      151.00

Daily Value (₦’bn)                                                  1.60

Daily Value ($’m)                                                   3.50

Sectoral Indices Performance

NGX 30                                                                 -0.40

NGX BANKING INDEX                                      1.10

NGX INSURANCE INDEX                                -1.00      

NGX CONSUMER GOODS INDEX                   0.00

NGX OIL/GAS                                                      0.00            

NGX LII                                                               -0.50                   

NGX INDUSTRIAL GOODS INDEX                 0.00

NGX-AseM                                                           0.00