After a four-day losing streak, the NGXASI rebounded by 0.10% to close at 104,962.96 points, lifting market capitalisation to ₦65.82 tn (+₦65.33 bn gain).
The year-to-date (YTD) return remains at 1.98%, reinforcing long-term stability despite recent volatility as evidenced in the 0.94% decline in its WTD position. The liquidity surge signals renewed investor confidence in the market
Trading volume rose 27.91% (397.21 m shares), while value surged 126.81% (₦14.17 bn), driven by SEPLAT (₦5.15 bn), TRANSCOHOT (₦1.2 bn), and MTNN (₦1.03 bn). FIDELITYBK (62.27m shares) dominated by volume, appreciating 5.29% to close at ₦17.90.
Sectoral Performance Reflects Selective Buying
The Oil & Gas Index gained 0.50%, led by OANDO (+5.59%) and JAPAULGOLD (+1.01%), while the Banking Index rebounded after six days of losses with gains in UBA (+5.75%), FIDELITYBK (+5.29%), and ACCESSCORP (+0.45%).
The Insurance Index fell 0.49%, weighed down by WAPIC (-9.39%), despite LINKASSURE (+10.00%) leading the gainers.
Technical indicators in the market point to market caution. The 7-day moving average (105,441.06 points) remains below the 20-day (106,514.36 points) and 50-day MA (105,754.28 points), signaling short-term weakness.
However, the 14-day RSI at 35.81 suggests near-oversold conditions, hinting at a potential reversal if buying momentum is sustained.
Institutional Positioning & Improved Market Sentiment
Market breadth improved to 1.38x, as 29 gainers outpaced 21 losers, reflecting a shift in sentiment from the previous session’s negative breadth of 0.50x.
SEPLAT accounted for 36.38% of total traded value due to a block transaction, reinforcing institutional interest in key blue-chip stocks.
While market volatility persists, liquidity inflows, sectoral rebounds, and a technical setup near oversold conditions indicate that institutional buyers may soon step in. Watch for sustained momentum in banking and energy stocks as potential catalysts for a broader market recovery.
NASD Summary
Market declines amid low sentiment and no gainers. The NSI fell 0.44% (3,358.60 points), while market capitalization declined to ₦1.94 tn.
No gainers were recorded, with top losers including SDFCWAMCO (-4.95%), SDCSCSPLC (-4.42%), and SDAFRILAND (-0.10%), reflecting weak investor confidence.
In the meantime, liquidity spikes despite market weakness. Volume surged 50.68% to 304,188 unit of shares, while value skyrocketed 1,214.81% to ₦10.21 m, suggesting selective large trades despite broader market declines.
The sharp 88.24% increase in trades (32 deals) indicates renewed activity, though price pressures persist.
Despite heightened trade activity, weak sentiment and lack of gainers suggest investors remain cautious, with liquidity flows favouring select counters amid continued sell-offs.
Coronation
