Nigerian stock market sustain bullish trend with 1.01% gain
- The Nigerian stock market sustain bullish trend, as the NGX All-Share Index (ASI) rose by 1.01% to reach a new all-time high of 151,456.91 points. As a result, the year-to-date improved to 47.15% from the 45.68% in the previous session, while the market capitalisation expanded by N962.31bn, to settle at N96.13trn.
- The uptrend was driven by persistent interest in select large cap stocks such as BUAFOODS (+6.54%), FIRSTHOLDCO (+4.46%), TRANSCORP (+1.46%), and WAPCO (+1.10%), which outweighed selloffs recorded in GTCO (-0.32%), ACCESSBANK (-1.77%), STERLINGNG (-3.70%), ZENITHBANK (-0.15%).
- Market activity was mixed, with the transaction volume rising by 34.96% while the trade value declined by 23.04%. FIDELITYBK (-0.25%) led the volume chart with 59.12mn units, while GTCO (-0.32%) led the value charts with trades worth N2.92bn.
- Market breadth closed negative at 0.79x, indicating more decliners than gainers. SCOA (+7.74%) led the thirty (30) gainers, while CONOIL (-5.83%) led the thirty-five (35) laggards, with remaining stocks closing flat.
NASD Summary
- The NASD sustained its positive momentum, as the NASD Securities Index (NSI) and market capitalisation edged higher by 0.96%, closing at 3,678.22 points and N2.20trn, respectively.
- Market activity strengthened significantly, with transaction volume and value rising by 7.25% and 946.86%, respectively.
- SD11PLC (+9.09%) topped the market gainers, while SDFOODCPT (-5.82%) led the decliners in today’s session.
