Nigerian Stock Market Sheds 0.20% on Tuesday
The Nigerian stock market continued its downward trend for the fourth consecutive session, with the NGX All-Share Index (ASI) falling by 0.20% to finish at 119,74.23 points. The market capitalization also decreased by 0.20%, closing at ₦75.80 trillion. Consequently, the year-to-date (YTD) ASI return dropped to 16.34% from 16.57% in the prior session.
This bearish trend was primarily influenced by profit-taking activities in major stocks, including Dangote Cement (-3.41%), Guaranty Trust Holding Company (-1.23%), and Zenith Bank (-1.58%). These declines overshadowed the gains seen in Transnational Corporation (+0.10%), Lafarge Africa (+0.34%), and Nestle Nigeria (+3.45%).
Market activity reflected the prevailing bearish sentiment, with total trading volume plummeting by 74.06%, while the transaction value also fell by 74.56%. The number of executed trades further decreased by 14.40%. Ellah Lakes (+9.95%) led the volume chart with 46.05 million shares traded, whereas Nigeria Breweries (+1.69%) topped the value chart, recording N1.75 billion in trades.
Market breadth concluded positively at 2.04:1, indicating a greater number of gainers compared to losers. RTBRISCOE (+10.00%) was the leader among the forty-seven (47) gainers, while UPL (-10.00%) led the twenty-three (23) losers.
NASD Summary
In the NASD OTC market today, the NASD Securities Index (NSI) increased by 0.91%, closing the session at 3,377.8 points. Market capitalization grew by the same margin of 0.91%, settling at N1.98 trillion.
Despite this bullish performance, trading activity saw a significant decline. The volume traded fell by 80.36% to 166,176.0, while the transaction value decreased by 59.52% to N6.54 million. Additionally, the total number of trades further dropped by 42.42% to 19 executed deals, indicating that a limited number of trades contributed to the market’s rebound.
