The Bulls Regain Market… ASI up 0.1%

Today, the domestic equities market recorded the first gain of the week as the NGX-ASI rose 0.1% to 46,904.48 points due to buying interest in MTNN (+1.5%), ETI (+1.7%), and UBA (+1.0%). Accordingly, YTD return increased to 9.8% from 9.7% while market capitalisation advanced ₦33.1bn to ₦25.3tn. Activity level was mixed as volume traded declined 6.1% to 201.1m units while value traded rose 46.4% to ₦2.6bn.

Across sectors within our purview, performance was mixed as 3 indices lost while 3 gained. Leading the 6.3 gainers, the AFR-ICT index was up 0.7% on account of the price uptick in MTNN (+1.5%). Following, the Insurance and Oil & Gas indices advanced 0.6% and 0.3% respectively due to price appreciation in CORNERST (+10.0%), MBENEFIT (+4.2%), ARDOVA (+2.6%), and OANDO (+0.2%). Conversely, the Banking index led the laggards, down 0.6% on the back of losses in ZENITH (-2.2%) and JAIZBANK (-2.9%). Likewise, the Consumer and Industrial Goods indices fell 15bps and 3bps respectively due to sell pressure on CADBURY (-6.7%), PZ (-5.4%), WAPCO (-0.4%), and CUTIX (-2.2%).

Investor sentiment, as measured by market breadth, improved to -0.01x from -0.03x in the prior session as 16 stocks advanced, 17 declined while 74 closed flat.

Market Cap (₦’bn)                                 25,278.96

Market Cap ($’bn)                                   60.7                  

NGX All-Share Index                               46,904.48

Daily Performance %                                0.1%

WTD Performance %                                      -0.1%                              

MTD Performance %                                        -1.0%

QTD Performance %                                          9.8%

YTD Performance %                                           9.8%

Daily Volume                                                       201.1

Daily Value (₦’bn)                                               2.6

Daily Value ($’m)                                                 6.3

Sectoral Indices Performance

NGX 30                                                                 0.2%

NGX BANKING INDEX                                     -0.6%

NGX INSURANCE INDEX                                  0.6%                              

NGX CONSUMER GOODS INDEX                    -0.2%

NGX OIL/GAS                                                       0.3%                                           

NGX LII                                                                  0.4%                                      

NGX INDUSTRIAL GOODS INDEX                   0.0%