The Stock market slumps again: Losing 0.49% on Wednesday

• The Nigerian stock market slumps again today Wednesday closing today’s session on a bearish note, as the NGX All Share Index (ASI) sheds 0.49% to close at 143,064.57 points. Consequently, the year-to-date (YTD) return declined to 39.00% from 39.68% recorded in the previous session, while the market capitalization moderated by N444.3bn to settle at N91trn.
• The negative note was driven by profit-taking in select large and mid-cap stocks including BUACEM (-8.00%), CONOIL (-3.50%) and CADBURY (-5.85%), which offset the buying interest in select stocks such as NCR (+4.50%), IKEJAHOT (+2.15%) and OANDO (+1.00%).
• Market activity was improved notably, as both transaction volume and value rose by 32.76% and 89.89% respectively. GTCO (0.00%) led both the volume and value chart with 134.12mn units and N11.57bn worth of trades.
• Market breadth closed positive at 1.07x, indicating more gainers than decliners. AIICO (+10.00%) led the thirty-one (31) gainers, while LEARNAFRCA (-10.00%) topped the thirty (30) decliners.

NASD Summary

• The NASD closed today’s session on a bullish note after closing on a bearish note in the previous session, with the NASD Securities Index (NSI) and market capitalisation rising by 0.14%, to close at 3,605.04 points and N2.16trn, respectively.
• The market activity improved significantly, with transaction volume and value rising by 574.27% and 1,551.36% respectively.
• SDCSCSPLC (+1.36%) topped the market gainers while SDFCWAMCO (-0.17%) topped the  decliners in today’s session.