Monday, January 19, 2026
26.7 C
Lagos

Profit Taking in Banking Stocks Drags Market Performance… NSE ASI down 10bps

The negative performance of the local bourse was sustained in yesterday’s session as the NSE All Share Index (ASI) fell 10bps to 37,963.93 points while YTD loss remained at -0.7%.

Profit taking in ZENITH (-2.0%), GUARANTY (-0.7%) and INTBREW (-0.7%) pulled the benchmark index lower. Conversely, investors gained N9.7bn as market capitalization rose to N13.8tn. Similarly, activity level improved as volume and value traded increased 43.9% and 0.4% to 372.2m units and N3.2bn respectively.

The most traded stocks by volume were STERLING (172.6m), ZENITH (31.5m) and TRANSCORP (22.9m) while ZENITH (N792.7m), PRESCO (N404.4m) and GUINNESS (N277.9m) were the top traded stocks by value.

Negative Sector Performance 
Across sectors, performance was largely bearish as 3 of 5 indices trended southwards.

The Insurance and Banking indices led laggards, down 0.8% and 0.6% respectively as a result of losses in NEM (-1.2%), REGALINS (-4.0%), ZENITH (-2.0%) and GUARANTY (-0.7%).

The Consumer Goods index also closed in the red, shedding 0.2% on the back of sell-offs in INTBREW (-0.7%). On the other hand, the Industrial Goods and Oil & Gas indices advanced 0.9% and 0.3% respectively following gains in WAPCO (+2.4%) and TOTAL (+3.7%) which offset losses in SEPLAT (-0.2%).

Investor Sentiment Dwindles
Investor sentiment as shown by market breadth (advance/decline ratio) weakened to 0.3x from 1.0x in the prior session as 12 stocks advanced compared to 35 decliners.

Yesterday’s top gainers were CILEASING (+4.7%), UNITY (+4.5%) and TRANSCORP (+4.4%) while JAPAULOIL (-7.3%), ETERNA (-5.0%) and FIRSTALUM (-5.0%) were the worst performers.

Given the softer investor sentiment, we believe the negative performance will be sustained in tomorrow’s trading session.

Nevertheless, we do not rule out the possibility of some bargain hunting in market bellwethers by the end of the week.

spot_img
spot_img
spot_img

Hot this week

Kano Massacre: The Menace of Hard Drugs, Intervention Campaign by NDLEA

By Mahmud Isa Yola On the noon of Saturday, I...

Repton Group Wins 2025 Dangote Cement Largest Distributor Award

…in Nigeria, Sub-Saharan Africa By Goke Ilesanmi L-R: Alhaji Aliko...

Royal Exchange CEO: Recapitalisation Will Reposition Insurance Sector, Support $1tn Economy Goal

Mrs. Idu Okeahialam, Group Managing Director/CEO, Royal Exchange Plc,...

State Police and the Questions Nigeria Can No Longer Avoid

By Tosin Osasona Nigeria’s post-1999 democratic era has coincided with...

NESG Hosts 2026 Macroeconomic Outlook, Highlights Growth Prospects, Reform Consolidation

L-R: Mr. Omoboyede Olusanya, Vice Chairman II, Nigerian Economic...

Topics

NNPC Projects Fuel Price of N950 Per Litre for Lagos, N1, 019 for Borno

The NNPC Limited has released estimated prices of Premium...

Emefiele for 2017 Nigerian Banking Sector Report Launch

Afrinvest (West Africa) Limited has announced that the Governor...

GTCO Deploys SQUAD to Reshape Nigeria’s Digital Payment Space  

  Fragmentation in the Nigerian payment space has served...

Global Airlines Financial Monitor: January 2018

The initial airline financial results from the final quarter...

NCDMB Trains Women Business Leaders, Entrepreneurs in Port Harcourt

The Nigerian Content Development and Monitoring Board (NCDMB) has...

LASAA Unveils 2023 Mobile Advert Stickers for Branded Vehicles

The Lagos State Signage and Advertisement Agency (LASAA), the...

‘COVID-19 Will Compromise Transition to Clean Energy’-WEF Report

    The coronavirus pandemic risks cancelling out recent progress in...

Banks Sack 1, 982 as Profit Margins Decline, E-Payment Transactions Down 2.16%

Adesola Adeduntan CEO First Bank of Nigeria Limited Money Deposit Banks (MDBs)...
spot_img

Related Articles

Popular Categories

spot_imgspot_img