Daily Market Summary - NGX (January 22, 2025)

Today, the Nigerian Stock Exchange (NGX) experienced a slight decline, with the All Share Index (ASI) closing down by -0.29% at 103,137.99. Year-to-date, the ASI is down -0.33%, reflecting a cautious market sentiment. Despite the overall dip, market turnover surged by 68.76% to 13.47 billion Naira, indicating increased trading activity. Market breadth was slightly positive with 29 advancers against 25 decliners, suggesting a mixed performance among listed stocks.

Significant Trends in Market Breadth:

• Market Breadth: 1.16x, indicating a slight bullish sentiment with more advancers than decliners.
• Volume Traded: Increased for 63 stocks while 73 stocks saw a decline in volume, highlighting selective interest in certain equities.

Highlights of the Top Gainers and Losers:

Top Gainers:

• THE SIAML PENSION ETF 40 (SIAMLETF40): Closed at 770.00, up 10.00%.
• LOTUS HALAL EQUITY ETF (LOTUSHAL15): Closed at 43.19, up 9.90%.
• S C O A NIG. PLC. (SCOA): Closed at 3.28, up 9.70%.
• CADBURY NIGERIA PLC. (CADBURY): Closed at 25.00, up 9.65%.

Top Losers:

• MULTIVERSE PLC (MULTIVERSE): Closed at 10.05, down -9.87%.
• MAY & BAKER NIGERIA PLC. (MAYBAKER): Closed at 8.30, down -9.78%.
• PRESTIGE ASSURANCE CO. PLC. (PRESTIGE): Closed at 1.32, down -7.69%.

Insights and Predictions:

• Turnover Increase: The significant rise in market turnover suggests heightened trading activity, possibly driven by speculative trading or repositioning by institutional investors.
• Advancing vs. Declining Stocks: The slight edge in advancing stocks may indicate a potential for a rebound, but caution is warranted given the overall market decline.
• Unusual Volume Movements: Stocks like ACCESSCORP and UNILEVER showed unusual trading volumes, which could signal upcoming volatility or investor interest.
• YTD Trends: Notably, SCOA continues to show strong momentum with a 59.22% YTD increase, while MAYBAKER has been struggling with a -11.70% YTD decline.

High Dividend Yield Stocks:

• ACCESSCORP: With a DivY of 1.87%, it remains a solid choice for income-focused investors, especially as it shows bullish momentum.
• PRESTIGE: Despite its bearish trend, it offers a DivY of 2.50%, which may attract value investors looking for income amidst price declines.

Suggestions for Traders:

• Opportunities: Consider accumulating positions in stocks showing bullish momentum, such as SCOA and SIAMLETF40, which have crossed above their 15-day moving averages.
• Caution: Monitor stocks like MAYBAKER and MULTIVERSE, which are under selling pressure and may continue to decline if market conditions do not improve.

Year-To-Date (YTD) Gainers and Losers