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Equities Market Reverses Gain, Slumps 0.05%

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L – R: Shows Mr Dele Sotubo, Executive Director, Stanbic IBTC Pensions; Mr Babalola Obilana, Executive Director, Business Development & Service, Stanbic IBTC Asset Management Limited; Mr. Oscar . Onyema, CEO NSE; Mrs Bunmi Dayo-Olagunju, Chief Executive, Stanbic IBTC Asset Management Limited; Mr Shuaib Audu, Executive Director, Investments, Stanbic IBTC Asset Management Limited; Dipo Omotoso, Head, Secondary Markets, NSE and Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE at Facts Behind the Listing of Stanbic SIAML Pension ETF 40 at the Exchange on Tuesday.

24/1/2017/Cordros Research

  • The Nigerian equities market reversed yesterday’s gain, with the All Share Index declining by 0.05% to close at 26,217.54 points.
  • Today’s negative performance increased the Year-to-Date loss to 2.44%.
  • The Banking (-1.13%) and Insurance (-0.30%) indices closed lower, as ZENITHBANK (-3.5%), ACCESS (-0.71%), AIICO (-3.33%) and WAPIC (-1.92%) respectively recorded losses. On the other hand, the Consumer Goods (+0.31%), Industrial Goods (+0.05%) and Oil & Gas (+1.17%) indices gained, owing to demand for the following names; NESTLE (+4.03%), CCNN (+5.00%) and SEPLAT (+4.11%) respectively.
  • Market breadth was negative, with 13 gainers versus 25 losers. Total volume traded declined by 17.89% to 187.70 million shares, valued at N10.43 billion (highest since 21st July, 2015), and exchanged in 3,055 deals.
  • We expect bearish sentiment to persist in tomorrow’s session.

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