Thursday, July 31, 2025
24.1 C
Lagos

Bearish Performance Extends into 2nd Consecutive Session…ASI Down 61bps

Yesterday, the bearish performance in the local bourse was extended to the second consecutive trading session as profit taking in NESTLE (-4.2%),GUARANTY (-2.1%) and UBN (-3.8%) pulled the benchmark index down 61bps to settle at 32,763.35 points.

Following this, market capitalisation declined by N73.0bn to N12.0tn while YTD loss worsened to -14.3%. Activity level was however mixed as volume traded fell 10.4% to 154.3m units while value traded rose 33.0% to N2.7bn.

FIDELITY (23.3m units), GUARANTY (16.8m units) and UBA (16.2m units) were the top traded stocks by volume while the top traded stocks by value were NESTLE (N1.3bn), GUARANTY (N621.4m) and ZENITH (N246.2m).

Bearish Sector Performance
Performance across sectors was largely bearish as 3 of 5 indices under our coverage trended downwards. The Consumer Goods ndex led decliners, down 1.5% following profit taking in NESTLE (-4.2%), DANGSUGAR (-2.7%) and PZ (-4.8%).

Similarly, the Banking and Industrial Goods indices lost 1.0% and 0.1% respectively on the back of sell pressures in GUARANTY (-2.1%), UBN (-3.8%) and CCNN (-2.1%).

On the flip-side, the Insurance index gained 0.4%, following investors’ bargain hunting in CUSTODIAN (+4.8%) and LINKASSURE (+9.4%) while the Oil & Gas index rose by 0.1% due to buying interest in TOTAL (+1.1%).

Investor Sentiment Weakens Further
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from 0.7x recorded yesterday as 13 stocks gained compared to 21 stocks that declined.

Outperforming stocks yesterday were FIRSTALUM (+10.0%), ROYALEX (+10.00%) and LINKASSURE (+9.4%) while the laggards were ABCTRANS (-9.1%), PZ (-4.8%) and HONYFLOUR (-4.8%).

Although we maintain a bearish outlook over the near term, we nonetheless expect a rebound in market performance today, Friday, the close of the week.

spot_img
spot_img
spot_img

Hot this week

Two NCDMB Leaders Bag Doctorate Degrees at UNIPORT Convocation

Two senior officials of the Nigerian Content Development and...

Sovereign Trust Insurance Reports 109% Insurance Revenue Growth in 2024

Sovereign Trust Insurance Plc recently released its 2024 audited...

NAICOM Issues Guidelines for Insurtech Operations Effective Aug 1

The National Insurance Commission (NAICOM) has officially issued operational...

Leadway Assurance: Official Insurance Partner of Lagos International Trade Fair 2025

L–R: Juliet Okon, Head, Alternative Channel and High Net-worth...

NNPCL: Port Harcourt Refinery Not for Sale

Group CEO, NNPC Limited, Engr. Bashir Bayo Ojulari addressing...

Topics

INEC: One Party Fails to Nominate a Single Polling Agent for Anambra Election

REMARKS BY THE HONOURABLE CHAIRMAN, INDEPENDENT NATIONAL ELECTORAL COMMISSION...

Phase3: ‘Best Fibre Optic Infrastructure Service Provider’

Phase3, west Africa's leading end-to-end fibre network infrastructure and...

LASAA Unveils 2023 Mobile Advert Stickers for Branded Vehicles

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

‘How Soybeans Will Reduce Malnutrition in Nigeria’

Professor Ibiyemi Olayiwola, a nutritionist, says soybean has the...

Without Justice, No Future for Nigeria, says Rescue Nigeria Forum

            A "People's Discussion" organised by the Initiative for Good...

NITDA Warns of Potential Cyber Attacks in 2018

The management of the National Information Technology Development Agency...

Africa: Smartphone Market Records 14% Growth in Qtr 1, 2021

Newly released data from IDC’s Worldwide Quarterly Mobile Phone Tracker shows...

NEM Insurance 2020: N22bn Premium, N8.4bn Claims, N5bn Profit

Dr. Fidelis Ayebae, Chairman, NEM Insurance Plc said the...
spot_img

Related Articles

Popular Categories

spot_imgspot_img