For the third Consecutive day, stock market value drops

• In today’s trading session, bearish sentiment was sustained for the third consecutive day as the Nigerian stock market value drops. The ASI and market capitalization shed 70bps to settle at 154,260.98 points and N97.91trn respectively. As a result, the year-to-date (YTD) return dropped to 49.88% from 50.94%.
• Gains in OKOMU (+5.90%), UNILEVER (+4.05%, and ETI (+2.00%) were offset by profit taking in DANGCEM (-0.75%), BUACEMENT (-2.78%) and BETAGLASS (-10.00%), keeping the market in the red.
• Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 41.57%. A total of 452.89m unit shares valued at N14.84bn were exchanged in 25,654 deals. TANTALIZER (+2.08%) led the volume chart with 56.73m units traded, while GTCO (-0.11%) led the value chart  in deals worth N3.08bn.
• Market breadth closed negative at a 0.43-to-1 ratio with declining issues outnumbering advancing ones. DEAPCAP (+9.70%) topped twenty (20) others on the leader’s log, while BETAGLASS (-10.00%) led forty-six (46) others on the laggard’s table.

NASD Summary

• The NASD closed on a negative note, as the NASD Securities Index (NSI) and market capitalisation declined by 0.19%, closing at 3,643.34 points and N2.18trn, respectively.
• Market activity was up, with transaction volume and value higher by 205.15% and 22.49%, respectively.
• SDAIRLIQ (+9.10%) topped the market gainers, while SDCSCS (-11.11%) led the decliners in today’s session.