Investors gain as Bulls resurface at Stock market

Today, the All-Share Index gained 0.2% to 46,777.37 points due to buying interest in ZENITH (+3.4%), GTCO (+2.5%) and SEPLAT (+2.2%). Accordingly, the market capitalisation rose ₦1.4bn to ₦25.2tn while YTD return expanded to 9.5% (previously 9.3%). Market activity improved as volume and value traded increased by 17.3% and 21.3% respectively to 257.4m units and ₦2.3bn.

Performance across sectors within our coverage was mixed as 3 indices lost, 2 gained while the AFR-ICT index closed flat. The Banking and Oil & Gas indices rose 1.7% and 1.4% respectively, due to price appreciation in ZENITH (+3.4%), UBA (+1.3%), SEPLAT (+2.2%) and OANDO (+1.3%). Conversely, the Insurance and Consumer Goods indices fell 0.9% and 0.3% accordingly on the back of sell pressure on AIICO (-1.5%), WAPIC (-2.4%), GUINNESS (-1.5%) and FLOURMILL (-1.6%). Similarly, price decline in WAPCO (-0.9%) dragged the Industrial Goods index lower by 5bps.

Investor sentiment, as measured by market breadth, weakened to -0.03x from 0.04x in the prior session as 18 stocks advanced, 20 declined while 61 closed flat. In the next trading session, it is expected that there will be bargain buying to support market performance.

Market Cap (₦’bn)                              25,218.16 

Market Cap ($’bn)                               60.7  

NGX All-Share Index                         46,777.37 

Daily Performance %                          0.2% 

WTD Performance %                        -0.1% 

MTD Performance %                          -0.4% 

QTD Performance %                           -0.4% 

YTD Performance %                             9.5% 

Daily Volume                                         257.4 

Daily Value (₦’bn)                                  2.3 

Daily Value ($’m)                                    5.6

Sectoral Indices Performance

NGX                                                        30 0.3% 

NGX BANKING INDEX                         1.7% 

NGX INSURANCE INDEX                      -0.9% 

NGX CONSUMER GOODS INDEX         -0.3% 

NGX OIL/GAS                                                1.4% 

NGX LII                                                            0.0% 

NGX INDUSTRIAL GOODS INDEX              0.0% 

NGX-AseM                                                        0.0%