Nigerian stock market sheds 0.52% on Monday
The Nigerian stock market opened the week negative, as the NGX All-Share Index (ASI) and market capitalisation declined by 0.52% to close at 114,017.48 points and ₦71.89trn respectively. This brought the ASI year-to-date return to 10.78%.
The market bearish performance was driven by selloffs in ARADEL (-9.09%), ACCESSCORP (-4.74%), MTNN (-2.88%) and ZENITHBANK (-0.89%). These losses outweighed gains in GTCO (+1.64%), UBA (+1.94%), HONEYFLOUR (+5.37%) and FIDELITYBK (+2.60%).
The market activity was mixed with total trading volume dropping by 55.36%, while thNigeriane value of transactions increased by 13.16%. The number of trades executed increased by 46.12%. ACCESSCORP (-4.74%) topped the volume chart with 88.30mn shares traded, while GTCO (+1.64%) led in value terms, recording ₦3.34bn worth of trades.
Market breadth ended on a positive note at 1.36:1, with more gainers than losers. BERGER (+10.0%) led the gainers’ table, while RTBRISCOE (-10.0%) led the laggards’ log.
NASD Summary
The NASD OTC Securities Exchange opened the week positively, with the NASD Securities Index (NSI) gaining 0.28% to end the session at 3,267.8 points. However, market capitalization increased by the same margin to ₦1.96trn.
Despite the bullish performance, trading activity declined sharply. Volume traded declined by 58.13% to 248,882.0 units, and the total value of transactions declined by 67.24% to ₦9.81mn . A total of 30 deals were executed during the session, representing a 46.43% decline in trade count, suggesting few trades drove the positive sentiment.
