Stock market losses continue with 0.38% decline on Thursday
The Nigerian stock market losses continue for the fourth consecutive session, as the NGX All Share Index (ASI) declined by 0.38% to 153,676.66 points. Consequently, the year-to-date return eased to 49.31% from the 49.88% in the previous session, while market capitalisation contracted by N370.90bn settling at N97.54trn.
The negative sentiment was driven by profit-taking in select mid-cap stocks including TRANSCORP (-2.71%), WAPCO (-1.75%), and GTCO (-1.49%), which offset buying interest in select banking and energy stocks such as OANDO (+9.99%), ETI (+4.45%), UBA (+1.92%)
Market activity improved notably, as the transaction volume and value rose by 75.73% and 136.61%, respectively. WEMABANK (+2.00%) led the volume chart with 305.74 units traded, while GEREGU (+0.00%) led the value chart with N8.77bn worth of trades.
Market breadth closed negative at 0.51x, indicating more decliners than gainers. OANDO (+9.99%) led the twenty (20) gainers, while CADBURY (-10.00%) led the thirty-nine (39) laggards, with the remaining stocks closing flat.
NASD Summary
SDFCWAMCO (+1.10%) topped the market gainers with no decliners recorded in today’s session.
The NASD sustained its negative momentum, as the NASD Securities Index (NSI) and market capitalisation declined by 0.75%, closing at 3,609.02 points and N2.16trn, respectively.
Market activity was also down, with transaction volume and value lower by 99.36% and 99.50%, respectively.
