Thursday, October 23, 2025
29.2 C
Lagos

Profit Taking Reverses Bullish Run… ASI Down 27bps

Yesterday, profit taking in NIGERIAN BREWERIES (-3.2%), UBN (-9.5%) and OKOMUOIL (-9.0%) dragged the benchmark index 0.3% lower to close at 32,451.27 points.

As a result, market capitalisation declined by N32.5bn to N11.8tn while YTD loss worsened to -15.1%. Similarly, activity level weakened as volume and value traded fell 42.4% and 24.9% to 190.5m units and N3.3bn respectively.

The top traded stocks by volume were GUARANTY (67.0m units), TRANSCORP (15.8m units) and UBA (10.6m units) while GUARANTY (N2.3bn), NIGERIAN BREWERIES (N139.1m) and ZENITH (N123.9m) were the top traded stocks by value.

Banking Index Advances the Most 
Performance across sectors was largely bearish today as 3 of 5 indices under our coverage declined. The Banking and Insurance indices led gainers, up 0.2% and 0.1% respectively following investors continuous buy interest in GUARANTY (+1.6%), ZENITH (+1.0%), UBA(+1.3%), NIGERINS (+9.7%), AIICO (+3.7%) and LASACO (+6.5%). On the flip side, the Oil & Gas index declined 0.8%, following sell-offs in FORTE (-6.7%) while the Industrial and Consumer Goods indices lost 0.7% and 0.6% respectively on the back of price depreciation in WAPCO (-2.1%), CAP (-4.1%), NIGERIAN BREWERIES (-3.2%) and GUINNESS (-2.1%).

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.6x from 1.5x recorded last Friday as 13 stocks appreciated compared to 23 stocks that depreciated. The best performers were NIGERINS (+9.7%), LASACO (+6.5%) and UNILEVER (+4.7%) while LIVESTOCK (-9.5%), UBN (-9.5%) and LAWUNION (-9.1%) declined the most. We expect the bearish run to persist in the near term as sell-offs persists.

spot_img
spot_img
spot_img

Hot this week

Stanbic IBTC, Zenith, Axa Mansard, Leadway, MTN, GLO Lead Q3 2025 Brand Report

As Nigeria’s media environment continues to evolve, brand sentiment has emerged...

FSI, Mentors Without Borders Launch Tech Mentorship Program at Thomas Adewunmi Varsity

Financial Services Innovators (FSI), in partnership with Mentors Without...

The Trouble with Nigeria’s Healthcare System

By Michael Owhoko, Ph.D The quality of a country’s healthcare...

Sterling Bank Leads Africa’s Green Revolution with Agriculture Summit Africa 2025

Africa’s agricultural rebirth gathers momentum as Agriculture Summit Africa...

Fidelity Bank Celebrates International Day of the Girl Child with Debate Showcase 

L-R: Second runner-up, Chizaram Ekueme of Awesome College; Head,...

Topics

Security of Data/Systems Top IT Priority in Africa, ME

Ensuring high levels of security of data and systems,...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

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

Nigeria: Smartphone Market Grew 2% Units, Declined 6.4% in Shipment

        Nigeria's smartphone market grew 2.0% in unit terms quarter...

Mastercard Foundation, African Leadership Academy Welcome 2018 Anzisha Prize Finalists

Entrepreneurship is central to Africa’s economic growth and is...

DAWN Commission, AACC Sign MOU on Bilateral Trade, Investment

Mr. Seye Oyeleye, Director General, DAWN Commission; and Prince...

Africa Bancassurance MasterClass 2019 Holds April 16 in Lagos

The Africa Bancassurance Academy would like to notify the...

Global Smartphone Growth Slowing in 2016

Gartner said global smartphone sales will for the first...
spot_img

Related Articles

Popular Categories

spot_imgspot_img