NGX extends losses, ASI dips 0.3%

Today, losses in NB (-10.0%), WAPCO (-2.4%), and ZENITH (-1.7%) dragged the NGX-ASI down 0.3% to 53,637.14 points. Accordingly, YTD return moderated to 25.6% (previously 25.9%) while market capitalisation dipped ₦72.8bn to ₦28.9tn. Meanwhile, market activity improved as volume and value traded rose 39.9% and 23.9% respectively to 318.3m units and ₦3.7bn.

Across our coverage sectors, performance was bearish as 4 indices lost, 1 gained while the AFR- ICT index closed flat. The Consumer and Industrial Goods indices led laggards, down 1.8% and 0.2% respectively on account of profit-taking in NB (-10.0%), FLOURMILL (-1.0%), and WAPCO (-2.4%). Trailing, sell-offs in ZENITH (-1.7%), UBA (-6.3%), SOVRENIN (-4.0%), and ROYALEX (- 1.9%) dragged the Banking and Insurance indices lower by 0.2% and 0.1% respectively. Conversely, the Oil & Gas index rose 5bps following price uptick in ARDOVA (+0.7%) and OANDO (+0.2%).

Investor sentiment, as measured by market breadth, weakened to 0.04x from 0.12x as 20 stocks gained, 17 lost while 74 closed flat. In the next trading session, we expect the bearish sentiment to persist due to weak investor sentiment.

Market Cap (₦’bn)                                             28,916.32

Market Cap ($’bn)                                                     68.8

NGX All-Share Index                                         53,637.14

Daily Performance %                                                 -0.3

WTD Performance %                                                 -0.8

MTD Performance %                                                   8.1

QTD Performance %                                                  14.2

YTD Performance %                                                  25.6

Daily Volume                                                            318.3                                      

Daily Value (₦’bn)                                                        3.7

Daily Value ($’m)                                                         8.8

Sectoral Indices Performance

NGX 30                                                                        -0.4

NGX BANKING INDEX                                            -0.2

NGX INSURANCE INDEX                                        -0.1                                      

NGX CONSUMER GOODS INDEX                          -1.8                     

NGX OIL/GAS                                                              0.0

NGX LII                                                                         0.0

NGX INDUSTRIAL GOODS INDEX                         -0.2                         

 NGX-AseM                                                                   0.0

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