NGX: Equities sustain negative close
Salamatu Ejembi, Lagos
Equities trading on the floor of the Nigerian Exchange Limited, NGX has sustained a negative close with Wednesday being the third consecutive bearish close for the week.
The All-Share Index declined by 0.06% from 38,256.76 basis points to close at 38,233.68 basis points.
Likewise, the Market Capitalisation depreciated by 0.06% from N19,940 trillion to close on Wednesday at N19,928 trillion.
The performance was driven by price drops in ZENITH BANK PLC which declined by 1.1%, FLOUR MILL PLC which fell by 5.2% and GUARANTY TRUST BANK PLC which declined 0.7%.
The total volume of trades decreased by 18.8% to 203.09 million units, valued at N1.82 billion and exchanged in 3,594 deals.
FIDELITY Bank Plc was the most traded stock by volume at 24.41 million units, while ZENITH BANK PLC was the most traded stock by value at N508.00 million.
As measured by market breadth, market sentiment was positive, as 20 stocks gained relative to 13 losers.
JOHN HOLT PLC gained the most by 9.7% with VITAFOAM NIG PLC following right after with 9.2% gains, while FTN COCOA PROCESSORS PLC lost the most today by 7.3% and NPF MICROFINANCE BANK PLC was next with 5.6% loss.
Sectoral performance was largely mixed, with sentiments tilting to the negative side, as the Banking Index lost 0.4% and Consumer Goods index slipped by 0.1%.
The Insurance index gained 1.2% while the Industrial Goods and Oil & Gas indices closed flat.