NGX opened the week on a negative note

Nigerian equities market opened the week on a negative note, as the NGX All-Share Index (ASI) declined by 0.06% to close at 250,667.86 points, while market capitalisation fell by 0.06% w/w to settle at N162.75trn. This brought the ASI year-to-date return to 61.08% from 61.17% in the previous session.

The negative sentiment was driven by losses in NESTLE (−5.17%), GTCO (−0.45%) and UBA (−0.66%), which outweighed gains recorded in MTNN (+0.24%), ZENITHBANK (+0.67%) and DANGSUGAR (+2.94%).

Market activity was strong, as total volume traded grew by 59.27% to 875.28mn units and value traded grew by 51.40% to N40.88bn, while the number of deals rose by 1.17% to 53,887. ACCESSCORP (-0.16%) led the volume chart with 440.65mn units traded, while ARADEL (+0.00%) topped the value chart with transactions worth N5.11bn.

Market breadth was negative at 0.73x, reflecting higher number of decliners relative to advancers. SOVRENINS (+10.00%) emerged led the twenty-nine (29) gainers, while CMFC (−9.90%) led the thirty-six (36) losers.