The local equities market intensified its bearish sentiment in today’s session, as the NGX All-Share Index (ASI) sheds 0.49% to close at 140,557.24 points. As a result, the year-to-date (YTD) return moderated to 36.56% from 37.23% in the previous session. Market capitalisation also fell by N437.54bn (0.49%), settling at N88.93trn. The downturn in the market was largely underpinned by selling pressure in select bellwether stocks namely, GTCO, WAPCO, DANGSUGAR, and ZENITHBANK, which outweighed buying interest in TRANSCORP, NEM, NGXGROUP, and DANGCEM. Sectoral performance was broadly negative, with only the Insurance Index closing in the green.
The Banking Index (-1.41%) led the market sentiment, followed closely with Consumer Goods Index, Industrial Index (-0.45%), and the Oil & Gas (-0.02%). Market activity improved compared to the previous session, with trade volume and value transaction rising 29.60% and 27.35%, respectively. Market breadth closed negative at 0.46x, reflecting more decliners and advancers. SCOA led the eighteen (18) gainers, while INTENEGINS led the thirty-nine (39) losers.
Nigerian Exchange (NGX) market All-Share Index sheds 0.49%
