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MARKET SUMMARY - DECEMBER 01, 2023...NGX ASI GAIN +0.08%; ZENITHBANK & GTCO SUSTAINED EQUITIES MARKET ....
(Source: Securities Africa Nigeria Research, Date: 01-Dec-2023)

Description: cid:image003.png@01CFA726.996172D0

 

 

The NGX ASI +0.08%, $12.3m

 

·         The bulls opened December 2023 with positive sentiment as they triumphed in today's session by posting an 08 basis point gain. As a result, the NGX ASI settled higher at 71,419.87, whilst the year to date gain increased to 39.35%.

 

·         On a sectorial basis, the banking index (+1.14%) rebounded as ZENITHBANK, ACCESSCORP and GTCO attracted investors thus, pushing the index to a positive close. The consumer goods sector (-0.42%) reversed into negative territory as CADBURY and DANGSUGAR experienced losses. WAPCO was the sole loser in the industrial index (-0.06%), whilst the renewed interest by investors in ETERNA pushed the oil and gas index (+0.05%) into positive territory. Finally, the insurance index shed -1.10% as the massive selloff in SUNUASSUR and the loss in AIICO depressed the index.

 

·         The gains in ZENITHBANK (+2.79%), GTCO (+0.26%), FBNH (+0.45%), ETERNA (+1.94%) and ACCESSCORP (+0.26%) topped the losses in WPACO (-1.01%), UBA (-0.23%) and DANGSUGAR (-0.52%) as the market closed positive.

 

·         On a weekly basis, the broader index closed positive gaining +0.24% week on week (w/w). The positive performance was boosted by the gains in SEPLAT (+10.00%, w/w), AIRTELAFRICA (+0.56%, w/w) and ZENITHBANK (+0.86%, w/w). Meanwhile, the losses in DANGCEM (-2.44%, w/w), BUAFOODS (-1.92%, w/w) and STANBIC (-4.54%, w/w) prevented the NGX ASI from further gains.

 

The sectorial performance was negative:

             

                     

             Value traded was decent as transactions worth N10.2bn ($12.3m) were consummated.

 

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

             

            

 

Market Breadth

 

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Securities Africa Financial Limited | 5th Floor Skye Bank Building | 30 Marina | Lagos | Nigeria

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