NGX ASI posts 35bps gain on Thursday

• For the fifth session in a row, the NGX ASI posted a 35bps gain to close at 109,231.96 points. Investors’ interest in industrial heavy weight DANGCEM (+1.85%) alongside sustained interest in Teir-1 banking ticker, GTCO (+0.74%) and ACCESSCORP (+1.16%), outweighted losses in HONYFLOUR (-2.75%), NB (-5.67%) and INTBREW (-1.84%), keeping the market in the positive terrain. As a result, the year-to-date (YTD) return rose to 6.13%, while market capitalisation gained N240.15bn to close at N68.65tn.
• On trade metrics,  trade turnover settled lower relative to the previous session, with the value of transactions down by 23.11%. A total of 544.07m shares valued at N14.35bn were exchanged in 16,704 deals. FIDELITYBK (-0.25%) led the volume chart with 69.76m units traded, while GTCO (+0.74) led the value chart for the third time in a row in deals worth N3.10bn. 
• Market breadth closed positive at a 1.81-to-1 ratio with advancing issues outnumbering the declining ones. BETAGLAS (+10.00%) topped the leader’s table while ABBEYBDS (-10.00%) led the laggard’s log.

NASD SUMMARY

• The NASD OTC market continued its upward trend today with daily NSI and market capitalisation gaining 84bps. Trade volume also increased by 58.26% to 346,266 units and total value traded edged higher by 4.85% to N882.83mn signalling strong participation from investors.
• The 40.74% decrease in trade count suggests weak liquidity and sentiment in the market. SOURCE: Coronation Securities Limited