Last week, the Nigerian stock market experienced a selloff in key stocks such as SEPLAT (-1.30% w/w), GTCO (-0.12% w/w), and FBNH (-1.92% w/w), which negatively impacted the overall index. These declines offset the gains seen in ZENITHBANK (+0.76% w/w), STANBIC (+0.38% w/w), and NESTLE (+0.55% w/w). Consequently, the year-to-date (YTD) return fell by 8 basis points (bps) week-on-week (w/w), and the market capitalization decreased by ₦44.27 billion to close at ₦56.13 trillion.
Trading activities showed a higher trade turnover compared to the previous session, with the value of transactions increasing by 36.55%. A total of 388.02 million shares valued at ₦7.35 billion were traded in 7,106 deals. ACCESSCORP (+0.29%) led the volume chart with 81.03 million units traded, while ZENITHBANK (+0.76%) led the value chart with deals worth ₦1.43 billion.
The All-Share Index increased by 9 bps to settle at 99,221.14 points, while Market capitalization rose by ₦49.10 trillion. The positive performance was driven by gains in ZENITHBANK (+0.76%), FBNH (+1.10%), and STANBIC (+0.38%), which outweighed the losses in GTCO (-0.12%), FIDELITYBK (-5.64%), and NB (-1.97%). As a result,
Market breadth closed positive with a 1.24-to-1 ratio, as advancing issues outnumbered declining ones. CHAMS (+10.00%) topped the gainers’ list, followed by twenty (20) other stocks, while ROYALEX (-9.68%) led sixteen (16) others on the laggards’ table.
On the sectoral breakdown, the NGX Insurance Index (+0.84% w/w) led the sectoral gainers, followed by the NGX Consumer Goods Index (+0.33% w/w) and the NGX Industrial Goods Index (+0.00% w/w). On the downside, the NGX Pension Index (-0.69% w/w), the NGX Banking Index (-0.62% w/w), the NGX 30 Index (-0.21% w/w), and the NGX Oil and Gas Index (-0.18% w/w) all closed in the red.
