Profit-taking in NESTLE, GTCO and OANDO dips stock market value by 0.72%

• The Nigerian stock market continued in its bearish momentum, as the NGX All Share Index (ASI) sheds 0.72% to close at 152,629.60 points. Consequently, the year-to-date (YTD) return declined to 48.29% from 49.37% recorded in the previous session, while the market capitalization moderated by N611.96bn to settle at N96.97trn.
• The negative momentum was driven by profit-taking in select mid-cap stocks including NESTLE (-9.66%), GTCO (-4.86%) and OANDO (-9.99%), which offset the buying interest in selected consumer goods and banking stocks including HONYFLOUR (+9.72%), STANBIC (+0.31%) and STERLING (+1.91%).
• Market activity was mixed, as the transaction volume rose by 8.99%, while value declined by 18.50%. ASOSAVINGS (-0.93%) led the volume chart with 111.95mn units traded while STANBIC (+0.31%) led the value chart with N3.12bn worth of trades.
• Market breadth closed negative at 0.43x, indicating more decliners than gainers. EUNISELL (+64.90%) led the seventeen (17) gainers, while NASCON (-10.00%) topped the forty (40) decliners. 

NASD Summary

• The NASD continued today’s session on a bullish note, with the NASD Securities Index (NSI) and market capitalisation rising by 0.52%, to close at 3,649.72 points and N2.18trn, respectively.
• The market activity was mixed, with transaction volume rising by 82.27% and value declining by by 2.48%.  
• SDCSCSPLC (+5.11%) topped the market gainers with no decliners recorded in today’s session.