Nigerian stock market Index falls by 0.13% on Wednesday

• The bears resurfaced in Wednesday’s local equities trading, paring some of the previous session’s gains,  as the Nigerian stock market NGX All-Share Index (ASI) declined by 0.13%, closing at 145,864.80 points. As a result, the year-to-date (YTD) return slipped to 41.72%, from the 41.90% in the prior session. Market capitalisation also declined by 0.13%, settling at N92.28trn.
• The market downturn was largely driven by selloffs in WAPCO (-2.14%), ZENITHBANK (-1.96%), and GTCO (-1.31%), which outnumbered demands for UACN (+9.72%), CUSTODIAN (+8.18%), and WEMA (+5.75%).
• Market activity was mixed, with trade volume up by 5.06%, while value of transaction declined by 16.65%. UNIVINSURE (+9.77%) dominated the volume chart with 193.43mn units exchanged, while ACCESSCORP (-0.18%) led the value board, posting N2.35bn worth of trades.
• Market breadth closed positive at 2.48x, indicating a broader advance with 51 gainers against 20 decliners. BUAFOODS(+10.0%) topped the gainers’ chart, while THOMASWY (-10.0%) led the losers’ list.

NASD Summary

• In today’s NASD session, the NASD Securities Index (NSI) and market capitalisation continued its downward trend, falling by 0.63%, closing at 3,591.9 points and N2.15trn, respectively.
• Market activity was mixed, with the volume declining by 61.25%, while transaction value advanced by 715.52%.
• SDIGIPLCB (+9.43%) topped the market gainers, while SDMIXREAL (-9.78%) led the market laggards.