In today’s trading session, the market posted a positive performance, with the NGX ASI and market capitalisation advancing 0.20%, respectively. Market activity also strengthened notably, as the transaction volume surged by 462.83%, while trade value rose by 53.49%. CORNEST (+1.69%) dominated the trading activity, with 1.27bn units, valued at N6.40bn.
Market breadth closed positive at 1.55x, indicating more gainers than losers. IKEJAHOTEL (+10.00%) led the thirty-four (34) gainers, while ABBEYBDS (-10.00%) led the twenty-two (22) decliners, with the remaining stocks closing flat.
NGX Summary
Despite posting gains in three trading session during the week, the NGX All Share Index (ASI) fell by 0.14% w/w to close at 143,520.53 points, extending its bearish for the fifth consecutive week. Consequently, the year-to-date (YTD) return eased to 39.44% from the 39.64% in the previous week, while the market capitalisation shed N128.54bn w/w, to settle at N91.29trn.
The weak performance was influenced by selloffs recorded in select bellwether and mid-cap counters, such as, BUACEMENT (-4.76% w/w), UBA (-1.22% w/w), OANDO (-2.87% w/w), and NB (-2.55% w/w).
These losses outweighed buying interest in key telecommunication and banking names, including, MTNN (+1.20% w/w), GTCO (+2.25% w/w), ACCESSCORP (+2.44% w/w), and FIRSTHOLDCO (+1.47% w/w).
Sectoral performance was largely negative, with only the Banking Index (+0.67% w/w) closing in the green. The Industrial Goods Index (-1.92% w/w) led the decliners, followed by the Consumer Goods (-0.70% w/w), Oil & Gas (-0.23% w/w), and the Insurance (-0.07% w/w) indices.
NASD Summary
The NASD closed the week on a negative note, as the NASD OTC Securities Index (NSI) and market capitalisation declined by 0.93% w/w, closing at 3,597.83 points and N2.15trn, respectively.
The market closed higher in today’s session, rising by 0.29%. Market activity improved, with the transaction volume and value increasing by 64.45% and 136.93%, respectively.
SDFCWAMCO (+2.57%) led the market gainers, with no decliners recorded in today’s session.
