The market closed weaker in today’s session, as the NGX ASI and market capitalisation fell by 0.29%. Despite the decline, market activity strengthened, with transaction volume and value rising by 33.87% and 79.73%, respectively. UBA (-5.96%) dominated the trading session, recording 82.05mn units exchanged at a N3.55bn worth of trades.
Market breadth closed negative at 0.26x, reflecting more decliners than gainers. DEAPCAP (+9.94%) led the eleven (11) gainers, while LIVINGTRUST (-10.0%) topped the forty-two (42) laggards, with the remaining stocks closing flat.
NGX Summary
The local bourse sustained its bullish momentum from previous week, as the NGX All-Share Index (ASI) advanced by 0.92% w/w, to close at 141,845.34 points. Consequently, the year-to-date return improved to 37.81% from the 36.55% in the prior week, while market capitalisation appreciated by N822.25bn w/w, settling at N89.74trn.
The positive sentiment was anchored on bargain hunting in select large-cap stocks such BUAFOODS (+6.73% w/w), GTCO (+1.08% w/w), and NB (+8.11% w/w), which outweighed selloffs in select banking counters including ZENITHBANK (-5.88% w/w), UBA (-9.24% w/w), ACCESSBANK (-3.36% w/w), and FIDELITYBK (-1.43% w/w).
Sectoral performance was mixed, led by gains in the Consumer Goods (+6.51% w/w), the Oil & Gas (+5.23% w/w), and the Industrial Goods (+1.19% w/w) indices. However, the Banking (-0.93% w/w) and Insurance (2.34% w/w) indices closed the week in the red.
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation declined by 1.10% w/w, closing at 3,533.09 points and N2.11trn, respectively.
Similarly, the market closed lower today, dipping by 0.33%. However, market activity improved sharply, as transaction volume and value surged by 6,796.87% and 5,514.23%.
SDCSCSPLC (+1.20%) topped the market advancers, while SDFOODCPT (-10.85%) led the market decliners.
