Stock Market back-pedal gains… ASI sheds 0.3%

After four consecutive positive sessions, the domestic bourse took a breather as WAPCO (-7.7%), DANGSUGAR (-7.7%), and INTBREW (-9.7%) pulled the index lower. Consequently, the NGX All-Share Index and market capitalisation fell 0.3% and ₦65.7bn respectively to 47,360.79 points and ₦25.5tn while YTD return pared to 10.9%. Trading activity faltered as volume and value traded declined 24.5% and 47.0% respectively to 280.0m units and ₦4.2bn.

Across our coverage sectors, performance was uneven as 3 indices lost, 2 gained while the AFR-ICT closed flat. The Banking and Consumer Goods indices dipped 1.3% apiece due to sell-offs in ETI (-3.5%), ACCESS (- 1.9%), DANGSUGAR (-7.7%), and INTBREW (-9.7%). Also, price decline in WAPCO (-7.7%) and CUTIX (-5.4%) dragged the Industrial Goods index lower by 0.5%. On the other hand, the Oil & Gas and Insurance indices rose 5.1% and 1.0% respectively on account of buying interest in SEPLAT (+9.3%), AIICO (+2.9%), and LINKASSURE (+2.0%). Investor sentiment, as measured by market breadth, weakened to -0.32x from -0.27x as 15 stocks gained, 34 stocks lost while 60 closed flat. 

 Trade Summary

Market Cap (₦’bn)           25,524.89 

Market Cap ($’bn)            61.4 

NGX All-Share Index      47,360.79 

Daily Performance %      -0.3% 

WTD Performance %        0.1% 

MTD Performance %        1.6% 

QTD Performance %        10.9% 

YTD Performance %            10.9% 

Daily Volume                         280.0

Sectoral Indices Performance

NGX 30                                                        -0.4%

NGX BANKING INDEX                            -1.3%

NGX INSURANCE INDEX                         1.0%

NGX CONSUMER GOODS INDEX         -1.3% 

NGX OIL/GAS                                             5.1%

NGX LII                                                       -0.5%

NGX INDUSTRIAL GOODS                      -0.5%

INDEX NGX-AseM                                      0.0%