Nigerian stock market starts the week bullish with 0.30% gain on Monday

• The Nigerian stock market started the week on a bullish run, as the benchmark Index (ASI) gained 0.30%, to close at 139,394.75 points. Consequently, the year-to-date return increased to 35.43% from the 35.03% recorded in prior week. Market capitalisation also gained N262.42bn (+0.30%), settling at N88.20trn.
• The market uptick was largely driven by buying interest in DANGSUGAR (+9.09%), ZENITHBANK (+1.31%), and NASCON (+7.62%), which outweighed sell pressure in TRANSCORP (-7.34%), FIRSTHOLDCO (-5.57%), and FIDELITYBK (-2.86%).
• Market activity was mixed, with transaction volume down by 47.89%, while value edged up by 12.44%. FCMB (+0.00%) led the volume and value charts with 460.95m units traded in deals worth N4.74bn.
• Market breadth closed positive at 2.22x, reflecting more advancers than decliners. PZ (+10.00%) led the forty (40) gainers, while ENAMELWA (-10.00%) topped the eighteen (18) laggards, and the remaining stocks closing flat.

NASD Summary

• The NASD OTC Securities Index (NSI) and market capitalisation gained  by 0.31%, closing at 3,576.35 points and N2.14trn, respectively.
• Market activity decreased, as transaction volume and value fell by 97.25% and 93.58%, respectively.
• SDAFRILAND (+9.09%) topped the market gainers, with no decliners recorded.