Monday, September 1, 2025
23.3 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

Hot this week

Ecobank Nigeria @ 40: Group Unveils N60m in Cash Rewards Program for Customers

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

GOCOP 2025: Conference on Governance Challenges, Prospects Set for October 9

The Guild of Corporate Online Publishers (GOCOP) has announced...

NCC Advances Cybersecurity Framework to Safeguard Nigeria’s Telecom Infrastructure

L-R: President, International Youth Parliament, Hon. Promise Digos; Chief...

Northwest: The Lion’s Share of Tinubu’s Projects

By Tanimu Yakubu Director-General Budget Office of the Federation The Lagos Illusion The...

From Devaluation to Domination: How Tinubu’s Exchange Rate Reforms Turned the Naira into Nigeria’s Export Engine

By Tanimu Yakubu When President Bola Ahmed Tinubu’s administration...

Topics

PenCom Extends Online Pension Verification & Enrolment to Dec 31, 2021

NOTICE OF EXTENSION OF THE ONLINE VERIFICATION AND ENROLMENT...

Ecobank Nigeria Unveils Money Transfer via SMS, WhatsApp

Ecobank Nigeria says its customers are now able to...

Nominations Now Open for ‘IDC CIO Excellence Awards 2018’

Global technology research and consulting firm International Data Corporation...

Allianz Nigeria: Adewumi-Zer Out, Jaideep Goel in as Interim CEO

Mr. Jaideep Goel as been announced as interim CEO...

IDC: Cloud Tech is Top Investment Priority in Next 5 Years

The potential for cloud technologies to break down silos...

ILAN EXCO Pays Courtesy Visit to Sovereign Trust Insurance

L-R: Lekan Oguntunde, DGM/Head, Digital & Information Technology, Sovereign...
spot_img

Related Articles

Popular Categories

spot_imgspot_img