From the trader's desk...
The flat close continued in the industrial sector while consumer goods retreated to the red zone closing as the worst performing sector with a 129bps decline - CHAMPION (-863bps), INTBREW (-566bps), NB (-465bps), and VITAFOAM (-22bps). Consequently, the All-Share index lost 25bps to settle at 52,840.21, as sellers dominated today's session with a total of 26 stocks declining while 13 advanced. Activity-wise, market activity trended mixed, with volume falling by 7.08% to close at 274m units, while value traded improved by 12.20% to print at ₦4 billion. Notably, despite the 220bps price dip in FBNH's share price, the stock was the most traded name both in terms of volume and turnover, accounting for 27.21% and 20.76% of the day's volume and turnover respectively.
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
We are likely to see similar trade pattern filter into tomorrow's session amid slight improvement in sectoral performance given the negative activities that has been recorded across board.
Stocks to Watch
On the bid Cart: Following yesterday's marginal gain of 44bps, PZ closed the session much higher today posting a 9.57% gain to settle at ₦12.60. The consumer goods stock has recorded an impressive YTD profit of 106.56% outperforming the sector that has only returned 9.27% YTD.
On the Offer Cart: It was a bearish session for the brewery sub-sector today as declines were posted in CHAMPION (-863bps), INTBREW (-566bps), and NB (-465bps), all pulling the NGXCNSMRGDS index lower by 129bps d/d.
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