Buy Interest overshadows selloffs in the Stock market on Thursday

• The Buy Interest overshadows selloffs in the Stock market on Thursday as the Nigerian stock market maintained its positive momentum: the All-Share Index (ASI) and market capitalization gained 1.08% to close at 146,981.17 points and N93.48tn separately. This brought the year-to-date (YTD) return to 42.80%, up from 41.27% in the previous session. 
• This was driven by interest in stocks like CUSTODIAN (+10.00%), LINKASSURE(+10.00%) and OANDO (+9.97% overshadowing the selloffs in UNIONDICON(-9.68%) and STERLINGNG (-5.81%) and NGXGROUP (-5.31%).
• Despite the bullish close, market activity dipped, as total volume and value traded declined by 25.63% and 55.30%, respectively. UBA (+6.91%) led in volume with 52.97 million units, while STANBIC (+4.76%) led in value with N2.57 bn worth of trades.
• Market breadth remained strong at 5.18x, signifying a broad market rally with gainers significantly outnumbering losers. CUSTODIAN (+10.00%) led the gainers, while UNIONDICON (-10.00%) led the laggards.

NASD Summary

• The NASD market closed in the negative as the Securities Index (NSI) and market capitalisation decreased by 0.57% each, closing at 3,644.61 points and N2.18trn, respectively.
• The market activity also decreased, with transaction volume and value dipping by 99.46% and 99.85% respectively. SDFCWAMCO (-9.92%) led the two (2) decliners and there were no gainers in the market.