In today’s session, the market closed higher, with the NGX ASI and market capitalisation rose by 0.29%, respectively. Market activity improved compared to the previous session, with the transaction volume and value higher by 553.57% and 28.61%, respectively. CONERST (+9.82%) led the trading activity with 4.68bn units traded valued at N22.13bn worth of trades.
Market breadth closed negative at 0.86x, reflecting more decliners than gainers. JBERGER (+10.00%) led the thirty (30) gainers, while DEAPCAP (-10.0%) topped the thirty-five (35) laggards, with other stocks closing flat.
NGX Summary
The Lagos bourse halted its seven-week bullish momentum, as the NGX All Share Index (ASI) moderated by 0.98% w/w to close at 154,126.45 points. This pulled the year-to-date (YTD) return to 49.74% from 51.22% in the preceding week, while the market capitalisation shed N963.94bn w/w, to settle at N97.83trn.
The negative performance was driven by persistent profit-taking in large and mid-cap counters such as DANGCEM (-0.75% w/w), GTCO (-3.24% w/w), ZENITHBANK (-6.25% w/w), WAPCO (-3.45% w/w), and UBA (-4.64% w/w), which outweighed demand in MTNN (+0.99% w/w), STANBIC (+4.48% w/w), OANDO (+11.87% w/w).
Sectoral performance was broadly negative with only the Oil & Gas Index (+0.30% w/w) closing in the green. Conversely, the Insurance Index (-3.47% w/w) led the decliners, followed by the Consumer Goods (-2.73% w/w), Banking (-2.11% w/w), and Industrial Goods (-1.02% w/w) indices.
NASD Summary
The NASD closed the week on a negative note, as the NASD OTC Securities Index (NSI) and market declined by 0.80% w/w, to close at 3,625.45 points and N2.17trn, respectively.
The market closed higher in today’s session, rising by 0.46%. However, market activity was down, with transaction volume and value declining sharply by 99.83% and 97.97%, respectively.
SDFCWAMCO (+9.09%) led the market gainers, while SDGEFLUID (-0.69%) led the laggards’ log.
