Nigerian Equities Market opened the week on a negative tone
- The Nigerian equities market opened the week with a negative tone, as the NGX began trading in an extended market session. The NGX All Share Index (ASI) shed 0.94% to close at 223,602.29 points, moderating the year-to-date return to 43.69% from 45.05% in the previous session. The market capitalisation also declined by N1.37trn (0.94%), to settle at N143.97trn.
- The negative sentiment was driven by profit-taking pressure in select mid-cap and banking names, including ZENITHBANK (-4.17%), FIRSTHOLDCO (-10.00%), GTCO (-4.33%), and UBA (-10.00%). These selloffs collectively offset buying interest in PRESCO (+6.06%), DANGCEM (+1.97%), CUSTODIAN (+6.23%), FIDSON (+4.63%), and UNILEVER (+3.31%).
- Market activity was mixed, with volume rising by 8.06%, while value declined slightly by 0.85%. ACCESSCORP (-9.90%) led the volume chart with 39.13mn units, while MTNN (-0.09%) topped the value chart with N4.28trn.
- Market breadth was negative at 0.88x, indicating decliners outpaced advancers. ABBEYBDS (+9.26%) led the thirty-five (35) advancers, while FIRSTHOLDCO (-10.00%) and UBA (-10.00%) topped the forty (40) decliners.
NASD Summary
- The NASD OTC market opened the week on a positive note, as the NASD Security Index (NSI) and market capitalisation rose by 0.03%, to close at 4,053.97 points and N2.43trn, respectively.
- Market activity declined materially, with the volume and value down by 28.51% and 82.02%, respectively.
- SDCSCSPLC (+3.31%) was the sole gainer in today’s session, while SDFCWAMCO (-1.48%) led the market decliners.
