Nigerian stock market gets bullish with 0.31 gain on Monday

• The Nigerian stock market started the week in a  bullish tone, as the NGX All Share Index (ASI) advanced by 0.31%, to close at 141,439.77 points. As a result, the year-to-date return increased to 37.42% from the 37.00% recorded in prior week. Market capitalization gained N284.46bn (0.32% ), settling at N89.49trn.
• Market sentiment was spurred by demands for STANBIC (+5.32%), GTCO (+2.18%), and JBERGER (+9.93%), offsetting losses in CADBURY (-9.61%), ABBEYBDS (-8.39%), and MANSARD (-1.59%), pushing the market in the green.
• Market activity settled lower compared to the prior session, as transaction volume and value dipped by 54.63% and 73.63%, respectively. FCMB (-0.91%) dominated the trading volume with 105.13mn units of stocks exchanged, while GTCO (+2.16%) led the value log with deals worth N2.40bn.
• Market breadth closed positive at 2.29x, reflecting more advancers than decliners. JBERGER (+9.93%) led the thirty-eight (38) market gainers, while UPL (-9.92%) topped the sixteen (16) laggards, with the remaining stocks closing flat.

NASD Summary

• The NASD OTC Securities Index (NSI) and market capitalisation gained by 0.21% , closing at 3,649.10 points and N2.18trn, respectively.
• Market activity declined significantly, as volume and transaction value increased by 72.61% and 88.42%, respectively.
• SDFOODCPT (+6.60%) topped the market gainers, while SDAFRILAND (-5.79%) led the market losers.