The analysis of the today’s market performance indicates a decline of 0.56% in the NGX ASI and market capitalisation, notably disrupting twenty-six (26) consecutive bullish sessions.
This was driven by profit taking pressure in MTNN (-4.17%), BUACEMENT (-3.66%), and WAPCO (-0.68%).
Market activity notably improved compared to the previous session, with transaction volume and value increasing by 11.74% and 18.94% respectively.
LINKASSURE (+9.57%) led the volume chart with 585.56mn units, while DANGCEM (+0.0%) led the value chart with N7.23bn worth of trades.
Market breadth closed positive at 1.45x, indicating that forty-two (42) advancers outnumbered twenty-nine (29) decliners. CHAMPION (+10.0%) led market gainers, and ABBEYBDS (-9.87%) topped the laggards, while the rest of stocks were unchanged.
NGX Summary
The local bourse sustained its bullish run for the sixth consecutive week, as the NGX All Share Index (ASI) advanced by 3.18% w/w, closing the week at 145,754.91 points. This increased the year-to-date return to 41.61% from the 37.25% recorded in the previous week. The market capitalisation also appreciated by N2.84trn w/w (or 3.18% w/w), settling at N92.21trn.
The bullish run was spurred by buying interest across select bellwether stocks, including BUAFOODS (+18.93% w/w), DANGCEM (+9.22% w/w), and BUACEMENT (+13.92% w/w). These gains offset profit taking in the banking names, including ZENITHBANK (-2.42% w/w), UBA (-1.32% w/w), FIRSTHOLDCO (-1.35% w/w), ACCESSCORP (-1.43% w/w) and ETI (-1.20% w/w).
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation declined by 1.26% w/w, respectively. The NSI closed at 3,655.10 points, while market capitalisation closed N2.14trn.
Market activity declined considerably, as volume and transaction value declined by 69.21% and 57.79%, respectively.
SDFOODCPT (+0.31%) topped the market gainers, while SDCSCSPLC (-0.93%) led the market losers.
