Thursday, March 13, 2025
27.9 C
Lagos

Equities Market Extend Losses To Third Consecutive Session… NSE ASI Down 2.7%

The negative trend in the equities market was extended into the third consecutive trading day as the All Share Index (ASI) fell 2.7% to close at 36,102.38 points whilst YTD gain further moderated to 34.3%. Accordingly, market capitalisation declined by N346.1bn to settle at N12.4tn.

The poor performance was majorly attributable to negative sentiment towards DANGCEM (-4.9%) and GUARANTY (-4.7%) in addition to profit taking in NIGERIAN BREWERIES (-2.6%) and ZENITH (-3.3%). However, activity level on the exchange waned as volume and value traded dipped 42.6% and 6.4% to 224.8m units and N5.1bn respectively.

Industrial Goods Index Tops Sector Losers
Performance across sectors was bearish as all indices trended southwards. The Industrial Goods index led losers, down 3.1% on account of sustained losses in DANGCEM (-4.9%) and WAPCO (-1.7%).

The Banking index followed suit, down 2.8% due to declines recorded in GUARANTY (-4.7%), ZENITH (-3.3%) and ACCESS (-5.0%). GUARANTY released its H1:2017 earnings result today, growing Gross Earnings and PAT by 2.0% and 16.6% to N214.1bn and N83.7bn respectively.

In the same vein, the Consumer Goods and Oil & Gas indices fell 1.0% apiece on account of price depreciation in NIGERIAN BREWERIES(-2.6%), GUINNESS (-2.2%), TOTAL (-4.0%) and FORTE (-2.9%) respectively. Similarly, the Insurance index marginally declined 0.1% owing to a drop in price of LINKASSURE (-1.3%).

Investor Sentiment Remains Weak
In line with benchmark performance, market breadth remained weak, as the ratio of advancers to decliners settled at 0.3x (same as yesterday’s close of 0.3x) after 10 stocks gained against 30 losers.

CILEASING (+5.2%), VITAFOAM (+4.4%) and UPL (+3.7%) led the gainers’ chart while ACCESS (-5.0%), FCMB (-5.0%) and STANBIC (-4.9%) were the worst performers.

As we noted yesterday, market performance remains driven by profit taking after the sustained rally in prior weeks.

Nonetheless, we believe this negative trend will be reversed on account of bargain hunting. Hence we anticipate a rebound in the equities market in subsequent sessions this week.

Market Statistics:  Wednesday, 16th August 2017

Market Cap (N’bn)              12,443.5
Market Cap (US$’bn)                    40.7
NSE All-Share Index            36,102.38
Daily Performance %     (2.7)
Week Performance %         (5.4)
YTD Performance %                  34.3
Daily Volume (Million)                 224.8
Daily Value (N’bn)                      5.1
Daily Value (US$’m)         16.7

 

spot_img
spot_img
spot_img

Hot this week

Stanbic IBTC Pension Managers revitalises Government Day Secondary School in Akampka, Cross River State

Stanbic IBTC Pension Managers, a Pension Fund Administrator in...

Jumia Nigeria Empowers Women through ‘Accelerate Action’ Seminar in Celebration of IWD 2025

Jumia Nigeria reaffirmed its commitment to gender inclusion and...

Stanbic IBTC Bank Reintroduces Private Banking Offerings to Empower Nigerians

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings...

Desmond Mathew Wins 8th Edition of Sovereign Trust Insurance Open Golf Tournament

Desmond Mathew, winner of the 8th edition of the Sovereign...

NGX Committed to Empowerment, Equal Opportunity for Women

Speech Delivered by Alhaji (Dr.) Umaru Kwairanga, Group Chairman,...

Topics

NEXIM, CBN Unveil N550bn Non-Oil Export Growth Schemes

The Nigerian Export-Import Bank and Central Bank of...

‘Nigeria Lacks Total Internet Freedom’- Freedom House

Kenya and South Africa are the only African nations...

World Economic Forum: Sage CEO Laments Absence of Small Business Issues

CEO Stephen Kelly says small businesses still being ignored...

Worldwide PC Shipments Declined 7.7% in Qtr 3 2015

Worldwide PC shipments totaled 73.7 million units in the third quarter of 2015, a 7.7 percent decline from the third quarter of 2014, according to preliminary results by Gartner. Desktop PCs continued to show weakness with a high single digit decline, while the segment that combines notebook PCs and premium ultramobiles (such as the MacBook Air and Microsoft Surface Pro) recorded a low single digit decline.

Virgin Atlantic Orders 12 Airbus 35O for $4bn

Virgin Atlantic Airways has selected the A350-1000, the largest...

Emirates Group Reports $12.6bn 2015 Half-year Revenue

The Emirates Group has announced its half-year results for 2015-16, showing continued business growth and a strong performance. The Emirates Group revenue reached AED 46.1 billion (US$ 12.6 billion) for the first six months of its 2015-16 financial year, down 2.3% from AED 47.2 billion (US$ 12.9 billion) during the same period last year, reflecting the impact of the strong US dollar against major currencies. The Group marked one of its best half-year profit performances ever, with net profit rising to AED 3.7 billion (US$ 1.0 billion), up 65% over the last year’s results.

African Capital Alliance Acquires 49% of Continental Re

Private equity firm, African Capital Alliance (ACA) announced in...

Sanlam Nigeria Fosters Team Spirit with Inter-House Sports Event

Sanlam Nigeria, a leading insurance company, comprising Sanlam Life...
spot_img

Related Articles

Popular Categories

spot_imgspot_img