In today’s session, the market closed positive with the NGX ASI and market capitalisation gaining 0.42%, respectively. Howbeit, market activity weakened sharply, with transaction volume and value down by 91.26% and 63.96%, respectively. UBA (0.00%) dominated trading session, with the volume of transaction with 80.10mn units, valued at N3.44bn worth of trades.
Market breadth closed positive at 1.56x, reflecting more gainers than decliners. UACN (+10.0%) led the thirty-nine (39) gainers, while JBERGER (-9.96%) topped the twenty-five (25) laggards, with the rest of the stocks closing flat.
NGX Summary
In spite of the holiday shortened week, the local bourse sustained its bullish momentum from the previous week, as the NGX All-Share Index (ASI) rose by 1.02% w/w, to close at 143,584.04 points. This led to a marginal increase in year-to-date return to 39.50% from the 38.09% recorded in the previous week. The market capitalisation also gained N1.18trn w/w, settling at N91.14trn.
The sustained bullish momentum was anchored by bargain hunting in notable banking stocks including FIDELITYBK (+11.11% w/w), GTCO (+3.06% w/w), STANBIC (+1.77% w/w), which was further amplified with buying interest in select counters such as ARADEL (+16.09% w/w), BUACEMENT (+5.40% w/w), and MTNN (+1.19% w/w).
Sectoral performance was broadly positive, with only the Insurance Index (-2.02% w/w) closing in the red. On the flip side, the Oil & Gas Index (+5.68% w/w), the Industrial Goods Indexx (+1.66% w/w), the Banking Index (+1.17% w/w), and the Consumer Goods (+0.66% w/w) closed in the green.
NASD Summary
The NASD reversed the gains from previous week, as the NASD OTC Securities Index (NSI) and market capitalisation declined by 2.73% w/w, closing at 3,448.78 points and N2.06trn, respectively.
The market also closed lower today, down by 0.04%. However, market activity improved sharply, as transaction volume and value surged by 173.91% and 1,055.55%.
SD11PLC (+9.09%) topped the market gainers, while SDCSCSPLC (-0.68%) led the laggards’ log.
