Finally, The Stock market reverses course and gains 10bps on Tuesday

• Today, the Nigerian stock market saw a reverses course to gain 10bps from the previous session as the ASI and market capitalisation increased by 10bps to settle at 143,763.13 points and N91.44trn, respectively. As a result, the year-to-date (YTD) return rose to 39.68% from 39.53%  the previous day.
• Gains in UACN (+7.17%), PRESTIGE (+9.56%) STERLINGNG (+8.96%) offset losses in CAVERTON (-10.00%), UNIONDICON (-10.00%) and MANSARD (-4.23%) boosting investors confidence in the market.
• Analysis of today’s market activities showed trade turnover,  however settled lower relative to the previous session, with the value of transactions down by 34.73%. FIRSTHOLDCO (+1.47%) led both the volume chart while STANBIC (0.00%) led the value charts with 3.21bn units traded.
• Market breadth closed positive at a 1.63-to-1 ratio with advancing issues outnumbering declining ones. NCR (+9.98%) topped thirty-two (32) gainers, while CAVERTON (-10.00%) led the twenty-one (21) laggards.

NASD Summary

• The NASD market continued its downward trajectory today, as the NASD Securities Index (NSI) and market capitalisation shed 16bps, closing at 3,599.85points and N2.15trn respectively.
• Market activity was mixed, as the transacting value dipped by 48.37% to close at N6.07m while the transaction volume surged by 224.29% to close at 640,061 units of shares.
• SDIPWAPLC (+9.84%) was the only advancer while SDNASDPLC (-3.77%) led the two decliners.