In today’s session, market performance weakened, with the NGX ASI and market capitalisation declining by 0.46%.
Market activity also moderated relative to the previous session, as transaction volume and value fell by 44.04% and 37.33% respectively. UNIVINSURE (-7.58%) topped the volume chart with 308.80mn units, while GTCO (+0.51%) led the value chart with N2.01bn worth of trades.
Market breadth closed negative at 0.79x, reflecting more decliners than advancers. MBENEFIT (+10.0%) led the twenty-eight (28) market gainers, while LASACO (-10.0%) topped the thirty-eight (38) laggards; the rest of stocks were unchanged.
NGX Summary
The bearish run during the week halted an 11-week gaining streak, as the NGX All Share Index (ASI) declined by 0.77% w/w, closing at 144,628.20 points.
Accordingly, the year-to-date return moderated to 40.52% from the 41.61% recorded in previous week. Market capitalisation also shed N712.91mn w/w (or 0.77% w/w), settling at N91.50trn.
Sentiment was dampened by selling pressure in noble bellwether stocks, namely WAPCO (-5.15% w/w), MTNN (-3.26% w/w), OANDO (-6.88% w/w), and DANGSUGAR (-5.97% w/w).
Meanwhile, mild buying interest in select consumer goods and banking names, including BUAFOODS (+2.28% w/w), ACCESSCORP (+1.27% w/w), STANBIC (+10.0% w/w), and ETI (+4.86% w/w), proved insufficient to sustain the overall market momentum.
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation declined by 3.08% w/w, respectively. The NSI closed at 3,587.76 points, while market capitalisation closed N2.15trn.
Market activity declined considerably, as volume and transaction value declined by 87.12% and 58.59%, respectively.
SDACORN (+8.46%) topped the market gainers, while SDAFRILAND (-2.67%) led the market losers.
