NGX dips marginally, ASI down 3bps

Today, the local bourse extended bearish performance following sell pressure on BUACEMENT (-4.5%), DANGSUGAR (-2.9%), and FIDELITY (-3.0%). As such, the benchmark index shed 3bps to 50,582.30 points, YTD return steadied at 18.4% while market capitalisation declined ₦6.8bn to ₦27.3tn. Meanwhile, activity level diverged as volume traded gained 7.7% to 130.4m units while value traded fell 61.1% to ₦1.6bn.

Across sectors within our purview, performance was bullish as 4 indices gained while 2 lost. The Banking and Consumer Goods indices gained 2.1% and 0.1% sequentially, owing to price uptick in STANBIC (+9.2%), ZENITH (+2.8%), PZ (+10.0%), and INTBREW (+1.9%). Similarly, the Insurance and AFR-ICT indices gained 4bps and 2bps respectively, due to price appreciation in WAPIC (+8.1%), CORNERST (+2.9%), and MTNN (+0.1%). Conversely, the Industrial Goods and Oil & Gas indices dipped 1.6% and 0.1% respectively driven by profit-taking in BUACEMENT (-4.5%), OANDO (-0.2%), and ETERNA (-0.9%).

Investor sentiment, as measured by market breadth, weakened to 0.13x from 0.14x as24 stocks advanced, 16 declined while 63 closed flat. Tomorrow, we expect the market to record marginal gains, as investors cherry-pick on attractive tickers.

Market Cap (₦’bn)                                              27,276.99

Market Cap ($’bn)                                                      64.00

NGX All-Share Index                                         50,582.30

Daily Performance %                                                 -0.03

WTD Performance %                                                  0.40

MTD Performance %                                                  0.40

QTD Performance %                                                 -2.40

YTD Performance %                                                 18.40

Daily Volume                                                           130.40

Daily Value (₦’bn)                                                       1.60                                           

Daily Value ($’m)                                                         3.80

Sectoral Indices Performance

NGX 30                                                                        -0.10                

NGX BANKING INDEX                                              2.10

NGX INSURANCE INDEX                                         0.04                                      

NGX CONSUMER GOODS INDEX                            0.10                           

NGX OIL/GAS                                                              0.10                                    

NGX LII                                                                        -0.10

NGX INDUSTRIAL GOODS INDEX                         -0.50

NGX-AseM                                                                  -1.60