Stock market records a flattish performance… ASI down 0.3bp

Despite gains in MTNN (+0.3%), BUAFOODS (+0.8%), and FBNH (+1.8%), the domestic equities market was muted today as the NGX-ASI printed at 47,064.82 (previously; 47,066.77) points. As such, YTD return declined marginally to 10.2% while market capitalisation fell ₦1.1m to ₦25.4tn. Trading activity faltered as volume and value traded slid 18.9% and 32.7% respectively to 274.2m units and ₦3.8bn.

Performance of the sectors within our coverage was positive as 4 indices advanced while 2 declined. Leading the gainers’ chart, the Insurance and Oil & Gas indices rose 1.5% and 0.3% respectively due to interest in NEM (+8.4%), AIICO (+1.5%), OANDO (+1.2%), and ETERNA (+4.4%). In the same vein, the AFR-ICT and Consumer Goods indices gained 12bps and 10bps respectively following price uptick in MTNN (+0.3%), BUAFOODS (+0.8%), and FLOURMILL (+4.9%). Meanwhile, sell -pressure on STANBIC (-1.9%), UBA (-0.7%), and WAPCO (-0.4%) dragged the Banking and Industrial Goods indices down by 1.0% and 2bps, respectively.

Investor sentiment, as measured by market breadth, improved to 0.12x from a flat position the prior session as 28 stocks gained, 21 lost while 58 were unchanged. In the next trading session, we expect the market to record mild gain due to improved sentiment.

NGX ASI: 47,064.82 points 

Previous ASI: 47,063.28 points 

% Day Change: 0.00% 

% Y-t-D: 10.18% 

Market Cap (N): 25.360 trillion 

Volume: 274,206,976 

Value (N): 3.82 billion 

Deals: 5,331 

NGX Top ASI gainers   

LEARNAFRICA up +9.70% to close at N1.81 

MORISON up +9.55% to close at N2.18 

RTBRISCOE up +9.52% to close at N0.46 

VERITASKAP up +9.52% to close at N0.23 

NASCON up +9.43% to close at N14.50 

NGX Top ASI losers  

BERGER down – 9.58% to close at N7.55 

CHIPLC down – 4.62% to close at N0.62 

JAIZBANK down – 4.29% to close at N0.67 

INTBREW down – 2.86% to close at N5.10 

ETI down – 2.80% to close at N12.15 

Top 3 by Volume 

ACCESS – 55,397,741 

GUINNESS – 16,710,189 

JAPAUL – 14,013,920 

Top 3 by Value 

GUINNESS – N1,162,718,235.50 

ACCESS – N576,538,210.30 

MTNN – N350,755,675.80