In today’s session, the market also closed lower, with the NGX ASI and market capitalisation declined by 0.33%. Market activity was notably down, with transaction volume and value lower by 14.92% and 6.79%, respectively. WEMABANK (-2.08%) led the trading activity, with 90.88bn units traded valued at N1.71bn worth of trades.
Market breadth closed negative 0.53x, reflecting more decliners than gainers. NCR (+9.94%) led the twenty-one (21) gainers, while BERGER (-10.00%) topped the forty (40) laggards, with other stocks closing flat.
NGX Summary
The Nigerian equities market extended its bearish run this week, as the NGX All Share Index (ASI) declined in all trading sessions, shedding by 2.99% w/w to close at 149,524.81 points. Consequently, the year-to-date (YTD) return moderated to 45.27% from 49.74% in the preceding week, while the market capitalisation fell by N2.83trn w/w, to settle at N95.00trn.
The bearish sentiment was driven by sustained sell pressure in large-cap counters such as MTNN (-8.29% w/w), GTCO (-5.03% w/w), TRANSCORP (-12.00% w/w), and ZENITHBANK (-4.76% w/w), compounded by losses in mid-cap stocks including WAPCO (-6.43% w/w), NESTLE (-9.66% w/w), and OANDO (-16.75% w/w).
Sectoral performance was broadly negative, with all major index closing in the red. The Insurance Index (-7.56% w/w) led the decliners, followed by the Oil & Gas (-4.80% w/w), Banking (-3.85% w/w), Consumer Goods (-2.54% w/w) and Industrial Goods (-1.09% w/w) indices.
NASD Summary
The NASD closed the week on positive note, as the NASD OTC Securities Index (NSI) and market capitalisation gained 0.98% w/w, to close at 2,661.07 points and N2.19trn, respectively.
The market similarly closed higher in today’s session, rising by 0.07%. However, market activity was down, with transaction volume and value declining by 10.60% and 66.27%, respectively.
SDAFRILAND (+7.33%) led the market gainers, while SDCSCSPLC (-0.38%) led the laggards’ log.
