Nigerian stock market Index sheds 39bps on Thursday

NGX Summary

• Bearish sentiment intensified in today’s session, with the Nigerian Stock market NGX All-Share Index (ASI) declining 0.39%, to close at 145,300.01 points. Consequently, the year-to-date (YTD) return moderated to 41.52% from 41.72% in the previous session. Market capitalisation also sheds N357.34mn (0.39%), down to N91.93trn, reflecting profit taking.
• Sentiment was weighed by selling pressure in select insurance stocks and other notable bellwethers, namely, DANGSUGAR (-7.89%), TRANSCORP (-2.34%), LASACO (-10.0%), AIICO (-9.89%), and CUSTODIAN (-8.54%). This sentiment outweighed mild buying interest in WAPCO (+0.73%), UBA (+0.52%), INTBREW (+1.56%), and ETI (+0.66%).
• Market activity improved notably, with trade volume and transaction value rising by 83.01% and 9.90%, respectively. UNIVINSURE (-9.59%) led the volume chart with 390.40mn units exchanged, while NB (+0.0%) led the value board, recording N1.87bn in transactions. 
• Market breadth closed negative at 0.44x, indicating more decliners than advancers. JULI (+10.0%) led the twenty-two (22) market gainers, while CILEASING (-10.0%) led the laggards’ list. 

NASD Summary

• In today’s NASD session, the NASD Securities Index (NSI) and market capitalisation advanced by 1.02%, closing at 3,628.67 points and N2.17trn, respectively.
• Market activity was mixed, as the volume rose 85.83%, while transaction value declined by 95.99%. 
• SDCSCSPLC (+0.99%) topped the market gainers, while SDGEFLUID (-0.81%) led the market losers.