DANGCEM, TRANSCORP and ZENITHBANK drags stock market down by 1.26%

• The Nigerian stock market opened the week on negative note, as the NGX All Share Index (ASI) declined by 1.26%, to close at 145,159.77 points. Consecutively, the year-to-date return eased to 41.03% from 42.83% in the previous session, while market capitalisation shed N1.17trn w/w, settling at N92.33trn.
• The negative performance was driven by profit taking in large cap stocks such as DANGCEM (-10.00%), TRANSCORP (-4.66%), and ZENITHBANK (-1.64%), which offset the buying interest in mid-cap stocks including, UPDC (+6.72%), JAIZBANK (+4.44%), and FIDELITYBK (+0.79%).
• Market activity was significantly down, with trade volume and transaction value was lower by 92.08% and 26.29%, respectively. TANTALIZER (+9.81%) led the volume chart with 57.12mn units, while ARADEL (+0.38%) led the value chart with N21.95bn worth of trades.
• Market breadth closed positive at 1.25x, indicating more market gainers than decliners. SOVRENINS (+10.00%) led the thirty (34) gainers, while DANGCEM (-10.00%) led the twenty-five (25) losers. 

NASD Summary

• The NASD market opened the week positive, with the NASD Securities Index (NSI) and market capitalisation rising by 0.09%, closing at 3,616.57 points and N2.16trn, respectively.
• Market activity was notably down, with transaction volume and transaction value lower by 91.27% and 90.80%, respectively.  
• SDCSCSPLC (+0.98%) led the market gainers while no decliners were recorded in today’s session.