In today’s session, the market closed positive, with the NGX ASI and market capitalisation gaining 0.70% and 0.69%, respectively. Meanwhile, market activity weakened sharply, with transaction volume and value declining by 90.53% and 95.70%, respectively. ABBEYBDS (0.00%) dominated the volume of transaction with 50.03mn units, while STANBIC (+2.00%) led the value chart with N4.17bn worth of trades.
Market breadth closed positive at 1.64x, reflecting more gainers than decliners. THOMASWY (+10.0%) led the thirty-five (35) gainers, while FIDELITYBK (-10.0%) topped the twenty-two (22) laggards, with the rest of the stocks closing flat.
NGX Summary
Despite losses in the first three sessions of the week, the local bourse sustained its bullish momentum from the prior week, with the NGX All-Share Index (ASI) rising by 0.20% w/w, to close at 142,132.02 points. Consequently, the year-to-date return inched up to 38.09% from the 37.81% recorded in the previous week, while the market capitalisation gained N215.84bn w/w, settling at N89.96trn.
The bullish market performance was driven by buying interest in select large and mid-cap names such as ZENITHBANK (+9.14% w/w), STANBIC (+9.29% w/w), INTBREW (+10.08% w/w) and DANGCEM (+1.72% w/w), which offset selloffs recorded across select banking and telecom counters, including MTNN (-3.45% w/w), FIRSTHOLDCO (-2.82% w/w), FIDELITYBK (-11.08% w/w), and WEMABANK (-12.41% w/w).
Sectoral performance was broadly mixed, with gains in the Industrial Goods (+1.33% w/w), the Banking (+1.19% w/w), and the Consumer Goods (+1.15% w/w) indices. Conversely, the Insurance (-0.91% w/w) and the Oil & Gas (2.34% w/w) indices closed the week lower.
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation gained by 0.32% w/w, closing at 3,535.41 points and N2.12trn, respectively.
The market, however, closed lower today, down by 0.08%. However, market activity improved sharply, as transaction volume and value surged by 1,834.48% and 108.48%.
SDGEFLUID (-9.34%) topped the decliners, with no gainers recorded in today’s session.
