The Nigerian stock market kicked off the week on a bearish note as profit-taking activities in WAPCO (-4.7%) led t a 0.1% decline in the All-Share Index to 98,107.52 points. Consequently, the Month-to-Date and Year-to-Date returns settled at 0.6% and +31.2%, respectively.
The total volume of trades declined by 58.1% to 436.04 million units, valued at NGN12.86 billion, and exchanged in 9,489 deals. FCMB was the most traded stock by volume at 61.65 million units, while ARADEL was the most traded stock by value at NGN3.53 billion.
On sectors, the Insurance (-1.2%), Industrial Goods (-0.5%), and Banking (-0.1%) indices recorded losses, while the Oil & Gas (+0.4%) index closed higher. The Consumer Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 35 tickers lost while 18 stocks appreciated. NSLTECH (-10.0%) and GUINEAINS (-8.9%) topped the losers’ list, while GOLDBREW (+10.0%) and NGXGROUP (+10.0%) recorded the most significant gains of the day.
