Friday, September 5, 2025
22.8 C
Lagos

Stock Market Statistics: Wednesday, 4th January, 2017

Market Cap (N’bn)                9,116.3
Market Cap (US$’bn)                     29.9
NSE All-Share Index             26,495.04
Daily Performance %                   (0.5)
Week Performance %             (0.7)
YTD Performance %                     (1.4)
Daily Volume (Million)                  62.1
Daily Value (N’bn)                       0.8
Daily Value (US$’m)                     2.6

Sustained Profit-Taking in GTBank Drags Equities Performance… NSE ASI Down 46bps 
The Equities market closed negative today as the All Share Index (ASI) lost 46bps to settle at 26,495.04 points while YTD loss worsened to -1.4%.

Consequently, investors lost N41.9bn as market capitalization settled at N9.1tn. The negative close can be attributed to sustained profit-taking in banking stocks – GUARANTY (-4.6%) and ETI (-2.4%) – and weaker appetite for WAPCO (-2.3%).

Activity level was also thin as volume and value traded fell 41.7% and 36.5% to close at 62.1m units and N785.3m respectively.

All Sector Indices Close in the Red
Sector performance was bearish as all indices trended southward.

The Banking index emerged the worst performing index, down 1.6% on account of declines in GUARANTY (-4.6%) andETI (-2.4%).

The Industrial Goods index trailed, losing 1.0% due to losses in CCNN (-4.2%) and WAPCO (-2.3%) while the Insurance index declined 0.6% – pressured by CONTINSURE (-3.0%) and NEM (-2.9%).

Similarly, the Oil & Gas index shed 46bps as investors sold-off on OANDO (-3.8%) and FORTE (-0.7%) while the Consumer Goods index closed the day flattish.

Sentiment Remains Weak as Portfolio Managers Rebalance to Underweight Equities
Investor sentiment remained soft today as measured by market breadth which stood at 0.8x (14 advancing stocks against 17 decliners) relative to 0.7x in the previous session.

The best performing stocks were VITAFOAM (+5.0%), LIVESTOCK (+4.8%) and UAC-PROP(+4.7%) while ASHAKACEM (-4.9%), GUARANTY (-4.6%) and DIAMOND (-4.4%) were the worst performers. The bearish sentiment since the turn of the year is in line with projection and seasonal trend, as we had expected portfolio managers to underweight equities as part of 2017 investment strategy.

Given the bearish sentiment in the market and with little fundamental drivers to support performance, we expect the Benchmark index to continue to post losses until bargain opportunities surface.

 

Afrinvest Research

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

Elumelu Seeks Urgent Recapitalisation, Enforcement of Compulsory Insurance in Nigeria 

Tony O. Elumelu, Chairman, Heirs Insurance Group, called for...

EZ37 Solutions to Hold International Conference on Coaching for Sustainable Impact

EZ37 Solutions Limited, a leading human resource and management consulting...

Bargain Hunting in Bellwethers Buoys Market Performance… ASI up 63bps

The local bourse posted a bullish performance yesterday as...

CBN: How PTA to MDAs, Estacodes Gulped $4bn in 2019

The Central Bank of Nigeria (CBN) says government officials...

Nigeria Bourse Posts Bullish Performance as Investor Sentiment Improves

As expected, it was a bull’s market yesterday as...

Stanbic IBTC Bank to Boost Entrepreneurship with 2024 Edition of SME Training

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings,...

RMB Nigeria Recognised as Top Employer in Nigeria for 2025

Rand Merchant Bank Nigeria Limited (RMBN) is proud to...
spot_img

Related Articles

Popular Categories

spot_imgspot_img