Stock Market Dips Marginally, Investors Lost N9.9bn

In line with our projection yesterday, the local bourse closed on a bearish note following sell pressure on ZENITH (-0.5%), FBNH (-0.5%), and UBA (-0.7%). As such, the benchmark index shed 4bps to 49,691.17 points, YTD return moderated to 16.3% while market capitalisation declined ₦9.9bn to ₦26.8tn. Meanwhile, activity level diverged as volume traded fell 36.9% to 128.8m units while value traded gained 151.5% to ₦4.1bn.

Across sectors within our purview, performance was mixed as 3 indices lost, 1 gained while the Industrial Goods and AFR-ICT indices closed flat. The Banking and Oil & Gas indices declined 0.2% apiece, owing to sell pressure in on ZENITH (-0.5%), FBNH (-0.5%), and OANDO (-1.0%). Similarly, the Consumer Goods lost 0.1%, due to profit taking in HONYFLOUR (-5.4%), and PZ (-3.2%). On the flip side, the Insurance index was the sole gainer, up 0.9% driven by buy interest in AIICO (+1.9%), LASACO (+6.5%), and MANSARD (+0.5%).

Investor sentiment, as measured by market breadth, strengthened to -0.07x from -0.17x as 10 stocks advanced, 16 declined while 81 closed flat. Tomorrow, we expect profit- taking to be extended in the absence of any positive catalyst.

Market Cap (₦’bn) 26,801.81

Market Cap ($’bn) 62.60

NGX All-Share Index 49,691.17

Daily Performance % 0.00

WTD Performance % 0.10

MTD Performance % -1.30

QTD Performance % -4.10

YTD Performance % 16.30

Daily Volume 128.80

Daily Value (₦’bn) 4.10

Daily Value ($’m) 9.60

Sectoral Indices Performance