Nigerian stock market gains 0.56% on Wednesday

• The Nigerian stock market rebounded today, as the NGX All-Share Index (ASI) and market capitalisation increased by 0.56% to close at 114,659.11 points and N72.30trn respectively. This brought the ASI year-to-date return to 11.40%
• The market performance was driven by stocks like in OANDO (+6.32%), FIDSON(+9.91%), and BERGER (+9.98%). These gains outweighed losses in NESTLE (-5.69)%), VITAFOAM (-6.64%), and INTBREW (-4.11%).
• The market activity was mixed with total trading volume dropping by 27.81%, and value declining by 24.83%. The number of trades executed decreased by 14.35%. FCMB (+5.00%) topped the volume chart with 40.29m shares traded, while SEPLAT (-) led in value terms, recording N1.62bn worth of trades.
• Market breadth ended on a positive note at 1.11-to-1, with gainers outnumbering the losers. ABCTRANS (+10.00%) led the gainers’ table, while ABBEYBDS (-7.50%) led the laggards’ log.

NASD Summary

• The NASD OTC Securities Exchange closed on the negative today, with the NASD Securities Index (NSI) losing 0.33% to end the session at 3,337.2 points. However, market capitalization decreased by the same margin to N1.95trn.
• Despite the performance, trading activity increased sharply. Volume traded increased by 1,232.60% to 3,316.59 units, and the total value of transactions increased by 31.76% to N12.92m. A total of 44 deals were executed during the session, representing a 46.67% increase in trade count. SOURCE: Coronation Securities Limited