In today’s session, the market performance gained with the NGX ASI and market capitalisation up by 0.60%. Market activity was mixed, with transaction volume surged by 276.79% while value was down by 18.75%. SOVRENINS (+4.21%) led the trading activity with volume with 1.42bn units at N4.21bn worth of trades.
Market breadth closed positive at 3.33x, reflecting more advancers than decliners. ELLAHLAKES (+10.00%) led the forty (40) gainers, while AUSTINLAZ (-9.75%) topped the twelve (12) laggards, and the remaining stocks closing flat.
NGX Summary
The local bourse extended its bearish run for the fourth consecutive week, as the NGX All Share Index (ASI) fell by 0.94% w/w, to close 138,980.01 points. As a result, the year-to-date return moderated to 35.03% from the 36.31% in the prior week. Market capitalisation also shed N832.38bn w/w (-0.94% w/w), settling lower at N87.94trn.
The market downturn was underpinned by broad-based selling pressure in notable stocks including WAPCO (-13.08% w/w), OANDO (-7.91% w/w), and DANGSUGAR (-5.17% w/w), which outweighed buying interest in TRANSCORP (+5.74% w/w), CORNERST (+12.36% w/w), and NASCON (+1.69% w/w).
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation declined by 1.50% w/w, closing at 3,565.46 points and N2.13trn, respectively.
Market activity notably improved, as transaction volume and value rose by 35.89% and 884.27%, respectively.
SDFSTTRUSTMB (+3.23%) topped the market gainers, while SDAFRILAND (-4.47%) led the market losers.
