Profit-taking activities in Tier 1 banking name: GUARANTY TRUST HOLDING COMPANY PLC (-1.14%), ZENITH BANK PLC (-0.14%), and FBN HOLDINGS PLC (-5.44%) stocks led to the Equities Market closing on a negative on Monday.
Consequently, Trading on the floor of the Nigerian Exchange Limited, NGX, kicked off the week with bearish sentiments as the All-Share index declined by 0.44% or 438.93 basis points to close at 99,304.12 points from Friday’s close of 99,743.05 basis points.
Likewise, the market capitalization lost 0.44% or ₦248bn to close at ₦56,175trn from previous ₦56,423trn.
Thus, the Month-to-date and Year-to-Date returns settled at +0.0% and +32.8%, respectively.
Analysis of today’s market activity showed that trade turnover settled 70.24% higher even as the total trading volume increased by 57.7% compared to the previous session.
At the close of the day, 973.62 million shares valued at ₦19.32 billion were exchanged in 9,941 transactions where FBN HOLDINGS PLC was the most traded stock by volume and value with 627.64 million units traded in deals worth ₦13.45 billion.
As measured by market breadth, market sentiment was negative with 26 stocks depreciating as against the 20 gainers.
The top three recliners for the day are; INTERNATIONAL BREWERIES PLC, with a fall from ₦4.40k per share to ₦3.96k per share, losing -0.44k or -10.00%.
Trailed by DEAP CAPITAL MANAGEMENT & TRUST PLC declining from 0.56k per share to settle today at 0.51k per share, shedding off -0.05k or -8.93%.
And DAAR COMMUNICATIONS PLC was next with a fall from 0.57k per share to 0.52k per share, losing -0.05k or -8.77%.
On the flip side, however, SECURE ELECTRONIC TECHNOLOGY PLC led the gainer’s table with an increase from 0.50k per share to 0.55k per share, gaining 0.05k or 10.00%.
Followed by VFD GROUP PLC appreciating by ₦4.00 or 9.85% from ₦40.60k per share to close today at ₦44.60k per share.
JOHN HOLT PLC. joined the gainer’s chart when it rose from ₦2.61k per share and settled at ₦2.86k per share, gaining 0.25k or 9.58%.
Sectoral performance was mixed, as the Banking (-1.0%), Consumer Goods (-0.4%), and Industrial Goods (-0.2%) indices recorded losses, while the Oil & Gas index closed flat. The Insurance (+1.1%) index was the sole gainer of the day.
Olusola Akintonde
