NGX Stock market starts another losing week with a 0.50% decline on Monday

• The NGX stock market opened the week bearish, as the NGX All Share Index (ASI) declined by 0.50% to close at 148,781,90 points. Consequently, the Year-to-Date (YTD) return eased to 44.55% from 45.27% in the previous session, while the market capitalization contracted by N471.99bn to settle at N94.53trn.
• The negative sentiment was driven by profit-taking in select mid-cap stocks including NAHCO (-9.95%), HONYFLOUR (-9.82%) and UBA (-4.88%) which offset buying interest in selected stocks such as FIDELITYBK (+4.81%), IKEJAHOTEL (+4.05%), CHAMPION (+3.85%)
• Market activity declined sharply, as the transaction volume and value dropped by 30.89% and 26.20%, respectively. ACCESSCORP  (-0.91%) led the volume chart with 22.81mn units traded, while DANGCEM (0.00%) led the value chart with N2.15bn worth of trades.
• Market breadth closed negative at 0.32x, indicating that more decliners than gainers. ASOSAVINGS(+10.00%) leading the thirteen (13) gainers, while LINKASSURE (-10%) top the forty-one (41) decliners.

NASD Summary

• The NASD opened this week with a negative momentum, as the NASD Securities Index (NSI) and market capitalisation dropped by by 0.73% and 0.73% respectively, closing at 3,634.16 points and N2.17trn, respectively.
• The market activity rose, with transaction volume and value rising by 639.58% and 591.41% respectively.
• SDAFRILAND (+1.97%) topped the market gainers, SD11PLC (-9.81) topped the market decliners in today’s session.