Local equities market close negative on Tuesday to stand at 141,546.80bps

• The local equities market closed negative, as the NGX All-Share Index (ASI) dipped 0.08%, to close at 141,546.80 points. Consequently, the year-to-date return moderated to 37.52% from 37.63% recorded in the previous week, while market capitalisation shed N70.99bn (-0.08%), settling at N89.56trn.
• The market downturn was driven by profit-taking in the banking stocks, such as UBA (-2.28%), FIDELITYBK (-2.14%), and ZENITHBANK (-0.29%), which offset buying interest in OANDO (+1.58%), HONYFLOUR (+5.50%), and ACCESSCORP (+0.37%).
• Sectoral performance was broadly negative, with the Insurance Index (-0.58%) leading the losers, followed by Consumer Goods (-0.39%) and Banking (-0.30%). Conversely, the Oil & Gas Index (+0.14%) closed positive, while the Industrial Goods Index (+0.00%) traded flat.
• Market activity weakened relative to the previous session, as transaction volume and value fell by 25.25% and 46.25%, respectively. GTCO (+0.85%) dominated trading, accounting for 71.44mn units exchanged, valued at N3.12bn.
• Market breadth closed down at 0.81x, reflecting more decliners than advancers. MULTIVERSE (+9.68%) led the twenty-two (22) gainers, while AUSTINLAZ (-6.27%) topped the twenty-seven (27) laggards.

NASD Summary

• The NASD OTC Securities Index (NSI) and market capitalisation declined by 0.37%, closing at 3,561.24 points and N2.13trn, respectively.
• Market activity improved significantly, as transaction volume and value surged by 843.12% and 175.63%.
• SD11PLC (-9.06%) topped the market laggards with no advancers recorded in today’s session.