…As NASD Securities Index Slipped By 0.03%
Nigeria’s equities market rebounded on Friday after a bearish performance yesterday with the NGX All-Share Index (NGXASI) growing by 0.04% to settle at 166,129.50 points, while investors gained N30.46 billion, thereby lifting total market capitalization to N106.35 trillion at the end of the trading session.
Data from the Nigerian Exchange Group (NGX), the supervisor of the equities market, showed that Market breadth closed positively with 44 gainers compared with 26 losers, translating to a breadth ratio of 1.60x.
According to the group, market activity, however, moderated as the total trading volume declined by 47.83% to 539.84 million units, while transaction value also dipped by 47.15% to N16.69 billion just as total deals also decreased by 6.24% to 47,998.
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A further analysis of the trading trend on sectoral performance basis indicated that it was mixed but supportive of the market’s improved value.
Specifically, the Banking sector led gains based on price appreciation in ZENITHBANK, GTCO, UBA and WEMABANK while the Consumer Goods sector also closed higher, propped by gains in CHAMPION, PZ and VITAFOAM, which helped offset pockets of weakness elsewhere.
Conversely, profit-taking in the Industrial Goods space, particularly in WAPCO and AUSTINLAZ, mixed the performance while the Oil & Gas sector closed mixed as gains in SEPLAT and OKOMUOIL were partly offset by declines in OANDO. Also, the Insurance sector recorded mixed outcomes amid selective sell-offs.
Meanwhile, on the NASD OTC Exchange, performance was broadly flat at the end of Friday trading with the NASD Securities Index (NSI) marginally slipping by 0.03% to 3,669.00 points, while market capitalization dipped slightly to N2.20 trillion.
Similarly, trading activity remarkably weakened as volume traded dropped to 364,532 units from 690,886 units during the preceding trading, just as value traded declined to N4.70 million.
However, the NASD OTC Exchange deal count increased to 21 deals, implying improved investor participation but with smaller trade sizes.
