Friday, July 4, 2025
23.4 C
Lagos

Local Bourse Extends Bearish Run… ASI Down 13bps

At the close of trading yesterday, the bearish run persisted in the domestic equities market as the All Share Index (ASI) declined 0.1% to settle at 31,040.84 point, largely on the back of losses recorded in NESTLE (-1.7%), STANBIC (-1.7%) and ETI (-2.2%).

Consequently, market capitalisation decreased by N15.5bn to N11.6tn while YTD return fell to -1.2%. Activity level weakened as volume and value traded shed 22.0% and 30.1% to 223.6m units and N2.2bn respectively.

The top traded stocks by volume were ACCESS (83.2m units), ZENITH (22.5m units) and FIDELITY (16.3m units) while ACCESS (N529.9m), ZENITH (N494.7m) and NIGERIAN BREWERIES (N262.4m) were the top traded stocks by value.

Bearish Sector Performance
Performance across sectors was largely bearish as 4 of 5 indices under our coverage closed in the red. The Banking index was the lone gainer, up 0.9% due to buying interest in ACCESS (+9.2%), ZENITH (+1.1%) and FIDELITY (+9.1%).

On the flip side, the Consumer Good index shed the most, down 0.9% driven by sell pressures in NESTLE (-1.7%) and NIGERIAN BREWERIES (-0.7%), trailed by the Oil & Gas index inching lower, 0.6% following sell pressures in OANDO (-4.3%).

In the same vein, losses in AIICO (-8.5%) and MBENEFFIT (-4.4%) dragged the Insurance index down by 0.5% while the Industrial Goods index (-0.4%) closed in the red due to sell offs in BETGLAS (-8.9%) and CUTIX(-9.8%).

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from 0.9x recorded in the previous session as 14 stocks appreciated against 23 decliners. NIGERINS (+9.5%), ACCESS (+9.2%) and FIDELITY (+9.0%) were the best performing stocks while CUTIX (-9.8%), BETAGLAS (-8.9%) and AIICO (-8.5%) led the laggards.

Despite the bearish run in today’s session, we observed some bargain hunting, especially in bellwethers that declined earlier in the week.

Hence, whilst the bearish sentiment continues to prevail, we are positive that certain triggers, including new company earnings releases and compelling attractive valuation, would propel demand in subsequent sessions.

spot_img
spot_img
spot_img

Hot this week

NAICOM Hands over New Licences to SanlamAllianz Life, General Insurance

The National Insurance Commission (NAICOM) today handed over new...

Access Bank Highlights Leadership at Climate Governance Initiative Launch

Access Bank Plc has once again demonstrated its leadership...

Fidelity Bank Extends Relief Efforts to Eti-Osa Community with Food Bank Initiative

Henry Asiegbu, Divisional Head, Operations, Fidelity Bank Plc (Left);...

Stanbic IBTC Bank Wins GTR Award for Best Trade Finance Bank in West Africa

Stanbic IBTC Bank has been honoured with the Best...

Topics

Obabori of RedStar Express Wins Courier Personality Award

Group Managing Director and Chief Executive Officer of Red...

Nigeria’s Power, Finance and Energy Investors to Parley FG in Oct

Leading development finance institutions and heads of Nigeria’s most...

7 Major Challenges Facing Real Estate Sector in Nigeria

Nigeria, the acclaimed "Giants of Africa," has maintained its...

Stanbic IBTC Unveils Educational Payment Products to Usher Students Back To School

As another school year beckons, Stanbic IBTC Bank PLC,...

WorldStage Economic Summit 2024 to Address Business, Economic Recovery

With Nigeria’s economy still struggling to shake off the...

Nigeria’s Headline Inflation Rate Drops to 15%

According to Cordros Capital, Nigeria’s headline inflation rate commenced...

Five-Year Milestone: AIICO Insurance Surpasses ₦200bn in Claims, Benefits Payments

AIICO Insurance Plc, a leading composite insurer in Nigeria,...

Business, Risk Leaders to Meet in Lagos Oct 2O

Leading risk management and insurance players, including key regional...
spot_img

Related Articles

Popular Categories

spot_imgspot_img