Wednesday, October 15, 2025
24.8 C
Lagos

Equities Market Suffers Dead Cat Bounce… NSE ASI Down 1.0%

The gain recorded in the Nigerian equities market yesterday, can be viewed as a “dead cat bounce” as the benchmark index continued on its downward trend today. The All Share Index shed 1.0% to settle at 38,534.64 points while YTD return retreated to 43.4%.

Accordingly, market capitalization fell by N135.8bn to N13.4tn. Price depreciations in large cap stocks – GUARANTY (-4.8%), ZENITH (-3.9%), NIGERIAN BREWERIES (-2.6%) and DANGCEM (-0.5%) were the major drags to market performance. Similarly, activity level waned as volume and value traded declined 30.0% and 83.6% to 323.9m units and N4.4bn respectively.

Oil & Gas Index Emerges Lone Gainer
Sector performance was largely bearish as all indices save for the Oil & Gas index which appreciated 0.1% following gains in MOBIL (+0.9%), closed in the red. The Banking index depreciated the most, down 2.2% on the back of losses in GUARANTY (-4.8%) and ZENITH (-3.9%).

The Industrial Goods index trailed, falling 1.7% as investors took profit in DANGCEM (-0.5%) and WAPCO (-4.3%). Similarly, price depreciations in NIGERIAN BREWERIES (-2.6%) and CADBURY (-5.0%) dragged the Consumer Goods index 0.5% lower. In the same vein, the Insurance index trended 0.1% southwards due to losses in LINKASSURE (-3.2%).

Market Breadth Wanes
Market breadth (advancers/decliners ratio)– which measures investor sentiment – weakened to 0.8x from 0.9x recorded yesterday, as 19 stocks advanced against 24 stocks that declined. The top performers for the day were BERGER (+4.9%), FCMB (+4.9%) and DANGFLOUR (+4.9%) while PRESCO (-5.0%), CADBURY (-5.0%) and GUARANTY (-4.8%) were the worst performers.

Today’s market performance can be largely attributed to sustained profit taking in large cap stocks. However, we expect a kickback in subsequent trading sessions in anticipation of the usual year-end rally.

Market Statistics: Wednesday, 13th December 2017

Market Cap (N’bn)                13,420.4
Market Cap (US$’bn)                   43.9
NSE All-Share Index              38,534.64
Daily Performance % (1.0)
Week Performance % (1.4)
YTD Performance %                  43.4
Daily Volume (Million)                  323.9
Daily Value (N’bn)                      4.4
Daily Value (US$’m)         14.4
spot_img
spot_img
spot_img

Hot this week

Team Nova Triumphs at Innovista Hackathon 1.0 with Game-Changing HealthTech App

The curtain has officially closed on the inaugural Innovista...

New Energy Solar Redefines Solar Installation Business in Nigeria

With many years of experience as a Solar energy...

Zenith Bank Marks Successful Public Offer, Achievement of Recapitalisation at NGX

Zenith Bank Plc yesterday marked a significant milestone with...

Fela’s Afrobeat Rebellion Aligns with Ecobank’s Commitment to Promoting African Heritage

Ecobank Nigeria says the ongoing “Fela Kuti: Afrobeat Rebellion”...

Topics

Sovereign Trust Insurance Reports N5.3bn Premium in Qtr 1, 2021

 Mr. Olaotan Soyinka Managing Director/CEO Sovereign Trust Insurance Plc Sovereign Trust Insurance...

Wapic Insurance Unveils Ombudsman Desk for Better Customer Experience

Wapic Insurance Plc has unveiled an Ombudsman Desk to...

Afreximbank Unveils $3bn Facility to Cushion Impact of COVID-19

    Prof. Benedict Oramah President of Afreximbank The African Export-Import Bank (Afreximbank)...

Brokers, Arbitrators Partner on Insurance Growth

The Assistant Executive Secretary, Nigerian Council of Registered Insurance...

Nominations Now Open for 2024 Almond Insurance Industry Awards

The stage is now set for the 2024 Annual...

4% of Pilots Worldwide Suffer Depression

According to the findings of a recent study at...

Ecobank Digital Leads in Seamless Banking Experience

                                                        Ecobank Nigeria Plc has effectively activated a broad-range...

Oil Prices Driving Lower Growth in Sub-Saharan Africa

Latest report by the World Bank Group suggests that low oil prices have considerably reduced growth in commodity-exporting countries in Sub-Saharan Africa, especially in Nigeria and Angola etc. and have also slowed activity in non-oil sectors. The report says that although South Africa is expected to be one of the main beneficiaries of low oil prices, growth is being held back by energy shortages, weak investor confidence amid policy uncertainty, and by the anticipated gradual tightening of monetary and fiscal policy. Growth in the region is forecast to slow to 4.2 percent, slower than previously expected.
spot_img

Related Articles

Popular Categories

spot_imgspot_img