Nigerian stock market gains 180bps on Wednesday

• The Nigerian stock market maintained its bullish run, with  the NGX All Share Index (ASI) edging up by 1.80% to close at 128,967.08 points. This pushed the year-to-date ASI return to 25.30% from 23.09% recorded in the previous session. Similarly, the market capitalisation gained N1.44trn to close at new all-time-high of N81.58trn.
• The bullish momentum was supported by  demand in Industrial heavyweight DANGCEM (+0.07% ), BUACEMENT (+3.03% ), along side Telco heavyweight MTNN (+1.27% ). These gains outweighed selloff in ARADEL (-0.57), HONYFLOUR (-3.16% ), and TRANSCORP (-4.25 %).
• Market activity surged significantly higher compared to previous session, with transaction volume advancing by 807.03% to 11.67bn while value edged up by 1,028.44% to N363.41bn. FIRSTHOLDCO (+9.90%) led the volume and value chart with 10.47b units  in deals worth  N324.47bn.
• Market breadth closed negative at 0.93-to-1 ratio, as market laggards outnumber gainers. FTNCOCOA (-10.0%) led the laggards, while NESTLE (+10.00%) topped the list of  gainers

NASD Summary

• The NASD OTC Securities Index (NSI) and market capitalisation closed flat today. The NSI also closed at 3,472.8 points while the market capitalisation settled above N2..03trn.
• Market activity plunged, as transaction volume declined by 59999%, while trade value declined by 99.94%. Notably, number od deaks fell by 84005% to 4 deals.