The Stock market suffers biggest single day loss of 501bps Tuesday

• The Nigerian stock market extended its bearish momentum, as the NGX All Share Index (ASI) saw its biggest single day loss since January 2020. Market closed down by 5.01% to close at 141,327.30 points. Simultaneously, the year-to-date (YTD) return eased to 37.31% from 44.55% in the previous session, while the market capitalisation dipped by 4.91% to settle at N89.88tn.
•  Market activity however was bullish as the transaction volume and value increased significantly by 80.03% and 158.87% respectively. FIRSTHOLDCO (-1.90%) led the volume chart with 68.27mn units traded, while GEREGU (0.00%) led the value chart with N4.42bn worth of trades. 
• Market breadth closed negative at 0.10x, indicating more decliners than gainers. NCR(+9.82%) led the four (4) gainers, while ACADEMY (-10.00%) led the sixty-six (66) decliners.

NASD Summary

• The NASD ended the day with a negative momentum, as the NASD Securities Index (NSI) and market capitalisation decreased by 0.25% and 0.25% respectively, closing at 3,625.09 points and N2.16trn, respectively. 
• The market activity also declined, with transaction volume and value rising by 98.27% and 96.97% respectively. SDAIRLIQ (-10.00%) topped the market decliners in today’s session.