Nigerian stock market value falls by 0.41% on Monday

• Opening  the week, the Nigerian stock market continued on its bearish move as the NGX All Share Index (ASI) fell by 0.41%, to close at 139,722.19 points. Consequently, the year-to-date return dropped to 35.75% from the 36.31% recorded in prior week. Market capitalisation also shed N439.57bn (-0.41%), settling at N88.41trn.
• The market downturn  was largely driven by sell pressure in  WAPCO (-5.38%), ZENITHBANK (-2.42%), and UBA (-2.88%), outweighing buying interest in CORNERST (+7.98%), SOVRENINS (+10.00%), and NASCON (+1.12%).
• Market activity was mixed, with transaction volume down by 6.24%, while value edged up by 42.21%. FCMB (+0.46%) led the volume chart with 55.84m units traded, while ARADEL (+0.69%) led in value with N5.31bn worth of transactions.
• Market breadth closed negative at 0.47x, reflecting more decliners than gainers.  SOVRENINS (+10.00%) led the fourteen (14) gainers, while ELLAHLAKES (-10.00%) topped the thirty-one (31) laggards, and the remaining stocks closing flat.

NASD Summary

• The NASD OTC Securities Index (NSI) and market capitalisation declined by 0.42%, closing at 3,604.70 points and N2.17trn, respectively.
• Market activity declined, as transaction volume surged by 62.99% and while value dipped by 11.68%.
• SDFCWAMCO (+2.54%) topped the market gainers, while SDCSCSPLC (-9.76%) led the market losers.