Stock market capitalization weakens by a further loss of 1.35% Wednesday
- The Nigerian stock market continued its bearish momentum for the third consecutive session this week, as the NGX All Share Index (ASI) declined by 1.35% to close at 150,573.87 points. Consequently, the year-to-date (YTD) return eased to 46.29% from 48.29% recorded in the previous session, while the market capitalization moderated by N1.3bn to settle at N95.66trn.
- The negative momentum was driven by profit-taking in notable large and mid-cap stocks including MTNN (-5.94%), TRANSCORP (-10.00%) and WAPCO (-7.14%), which offset the buying interest in select consumer goods and banking stocks including UBA (+2.41%), GTCO (+0.94%) and HONYFLOUR (+5.84%).
- Market activity improved notably, as transaction volume and value rose by 63.36% and 46.16% respectively. FIDELITYBK (0.00%) led the trading activity, with 608.16mn units traded, valued at N13.95bn.
- Market breadth closed negative at 0.33x, indicating more decliners than gainers. NCR (+10.00%) led the fifteen (15) gainers, while CILEASING (-10.00%) topped the forty-six (46) decliners
NASD Summary
- The NASD closed today’s session on a bearish note, with the NASD Securities Index (NSI) and market capitalisation declining by 0.71%, to close at 2,168.28 points and N6.86trn, respectively.
- The market activity was mixed, with transaction volume rising by 33.85% while value of trades declined by 41.72%.
- SDFCWAMCO (+5.60%) topped the market gainers while SDCSCSPLC (-11.03%) was the sole decliner in today’s session
