Tuesday, September 16, 2025
23.5 C
Lagos

Bearish Run Sustained on Large Sell-Offs… ASI Down 1.6%

The local bourse continued its bearish run as the All Share Index (ASI) declined 1.6% to close at 31,721.76 points dragged by sell offs in GUARANTY (-6.9%), NESTLE (-2.0%) and ZENITH (-4.0%).

Consequently, the market capitalisation reduced to N11.8tn as investors lost N194.8bn while YTD gain dipped to 0.9%.

However, activity level was mixed as volume traded decreased slightly by 9.7% to 411.7m units while the total value traded surged 96.6% to N5.3bn. GUARANTY (44.6m units), ACCESS (29.7m units) and UBN (27.6m units) were the top traded stock by volume while the top traded value were GUARANTY (N1.6bn), NESTLE (N946.7m) and DANGCEM (N634.7m).

Industrial Goods Index Emerges Lone Gainer
Performance across sectors was largely bearish as all indices save for the Industrial Goods index closed in the red. The Industrial Goods index inched higher, up 0.9% due to bargain hunting in DANGCEM (+1.5%) following its impressive FY: 2018 results.

The Banking index led laggards, down 4.6% based on sell-offs in GUARANTY (-6.9%) and ZENITH (-4.0%). In the same vein, the Consumer Goods index dipped 2.0% as NESTLE (-2.0%) and NIGERIAN BREWERIES (-4.5%) posted another consecutive day of losses.

Similarly, the Oil & Gas and Insurance indices declined 1.6% and 1.0% respectively due to price depreciation in OANDO (-9.7%), REGALINS (-7.4%) and AIICO (-5.2%).

Investor Sentiment Remains Weak
Investor sentiment as measured by the market breadth (advance/decline ratio) stood at 0.3x as 9 stocks advanced against 30 decliners. LIVESTOCK (+7.9%), UNIONDAC (+7.1%) and UAC-PROP (+4.9%) were the top performers while OANDO (-9.9%), FCMB (-9.8%) and DANGFLOUR (-8.8%) were the worst performers.

In our view, the current bearish sentiment in the market are based on sell-offs triggered by foreign portfolio investors. We however note that these pressures present buying opportunities in fundamentally sound stocks; nonetheless, we expect a bearish close tomorrow as investor sentiment remains weak.

spot_img
spot_img

Hot this week

Designing the Future: Arc Christian Benimana, Prof Taibat Lawanson to Headline Ecobank Design and Build 2025

Ecobank Nigeria has announced that celebrated architect Arc. Christian...

Sovereign Trust Insurance Wins Enactus Catalyst Award

From L-R: Victor Akinfala, Head Partnerships & Special Projects,...

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

Universal Insurance MD/CEO, Jeff Duru, Bags CIBN Associate Membership

  Dr. Jeff Duru Managing Director/CEO Universal Insurance Plc The Managing Director/CEO of...

Sterling One Foundation CEO, Olapeju Ibekwe, Joins Board of UN Global Compact Network Nigeria Ahead of UNGA 80

    Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation,...

Topics

Sovereign Trust Insurance Holds 29th AGM in Lagos

The Chairman of Sovereign Trust Insurance Plc, Oluseun O....

Ford Explorer Wins SUV, Nigeria Car of the Year Awards 2017

The Ford Explorer has been named SUV of the...

African Airlines Record 6.8% Cargo Decline in July

The International Air Transport Association (IATA) released data for...

TotalEnergies Reports $10bn Income in Q3 Driven by LNG Business

TotalEnergies has strengthened its balance sheet and doubled its...

NNPC/Seplat JV’s “Eye Can See” Programme Restores Vision, Hope in Imo

Host community members await further medical attention during the...

Market Regulation: Senate Passes ISB 2024

In a major boost to the operations of the...

National Human Development Report 2016: Insecurity Threatens Human Development in Nigeria

“Insecurity remains an ever-present threat to peace and development...

NNPC Says Crude Oil Production, Price Benchmark for 2024 Budget Realistic

The Nigerian National Petroleum Company Limited has assured that...
spot_img

Related Articles

Popular Categories

spot_imgspot_img