In today’s session, the market performance weakened as the NGX ASI and market capitalisation declined by 0.19%. Market activity also contracted sharply, with transaction volume and value down by 50.83% and 63.28%, respectively. VFDGROUP (+0.00%) led the volume chart with 49.29mn units traded, while GTCO (-0.05%) led in value with N1.97bn worth of transactions.
Market breadth closed negative at 0.58x, reflecting more decliners than gainers. LEARNAFRCA (+9.86%) led the eighteen (18) gainers, while JOHNHOLT (-10.00%) topped the thirty-one (31) laggards, and the remaining stocks closing flat.
Weekly Performance
Despite gains in the first two trading sessions of the week, the local bourse extended its bearish run as the NGX All Share Index (ASI) fell by 0.50% w/w, to close at N140,295.49 points. Consequently, the year-to-date return eased to 36.31% from the 37.00% recorded in prior week. Market capitalisation also shed N439.57bn w/w (-0.50% w/w), settling at N88.77trn.
Bearish sentiment was largely driven by sell pressure in heavyweight stocks, including ZENITHBANK (-5.71% w/w), GTCO (-2.13% w/w), and WAPCO (-3.38% w/w), outweighing buying interest in STANBIC (+6.38% w/w), OANDO (+4.49% w/w), and UBA (+1.46% w/w).
Broad-based selling pressure was mirrored in the sectoral performance, with all major indices closing in the red. The Banking Index (-1.21 w/w) led the decline, followed by the Insurance (-1.02% w/w), Consumer Goods (-0.89% w/w), Industrial Goods (-0.36% w/w), and Oil & Gas (-0.18% w/w) indices.
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation declined by 0.60% w/w, closing at 3,619.89 points and N2.17trn, respectively.
Market activity improved significantly, as transaction volume surged by 1,482.02% and while value rose by 11.36%.
SDNASDPLC (+9.09%) topped the market gainers, while SDCSCSPLC (-11.11%) led the market losers.
