The NGX ASI -0.10%, $5.8m

·         The market closed bearish for the fourth consecutive trading session as negative sentiment continued in the market leading to a 10 basis point loss. The NGX ASI settled at 66,382.14, whilst the year to date gain decreased to 29.52%.

·         On a sectorial basis, the banking index (+1.40%) closed today with a positive sentiment as gains in UBA, ACCESSCORP and ZENITHBANK sustained the index. The consumer goods index (+2.26%) experienced positive sentiment as BUAFOODS and DANGSUGAR led the gainers. The negative sentiment in BUACEMENT topped the positive sentiment in DANGCEM, thus, ensuring the industrial index(-2.80%) closed negative. The gains recorded in the insurance index in yesterday's trade session was quickly mopped up in today's session leaving the index (-0.43%) to close bearish.

·         The losses in BUACEMENT (-10.00%), MTNN (-0.19%) and GTCO (-0.14%) were enough to throw the market into negative trajectory despite positive performances from DANGCEM (+1.80%), BUAFOODS (+3.10%) and ZENITH (+0.48%).

·         For the week ended September 29, 2023, the NGX ASI shed 1.40% driven by losses in BUACEMENT (-11.08%), ZENITHBANK (-4.70%) and MTNN (-1.86%). 

The sectorial performance was positive:

·          Value traded was dismal as transactions worth N4.5bn ($5.8m) were consummated.

• A few notable trades of the day were the transactions executed on;

Market Breadth

for

Main:+234 (909) 440 4638  |

Email: researchng@securitiesafrica.com | Web: www.securitiesafricang.com