The Nigerian equities market began this week’s trading activities bearish as the benchmark index declined by 0.2% on Tuesday.
Specifically, the NGX All-Share Index lost 107.03 basis points to settle at 52,296.48 basis points from previous closing of 52,403.51 basis points, while the market capitalization lost ₦58bn to close at ₦28,476trn from last closing of ₦28,534trn.
The day’s negative performance was triggered by selloffs in LAFARGE AFRICA PLC. (-1.66%), GEREGU POWER PLC (-10.00%) and ECOBANK TRANSNATIONAL INCORPORATED (-0.90%) which offset the gains in MTN NIGERIA COMMUNICATIONS PLC(+0.57%), ZENITH BANK PLC (+3.07%), and GUARANTY TRUST HOLDING COMPANY PLC(+3.17%).
The total volume traded stood at 550.29 million units of shares, valued at ₦5.15 billion, and exchanged in 6,250 deals where ACCESS HOLDINGS PLC was the most traded stock by volume and value at 150.07 million units and ₦1.57 billion, respectively.
As measured by market breadth, market sentiment was positive as 30 stocks gained relative to 23 losers.
CONOIL PLC led the advancers with a rise from ₦40.00 per share to ₦44.00 per share, gaining ₦4.00 or 10.00 percent. Followed by UNION BANK NIG.PLC advancing from ₦7.00 per share to ₦7.70 per share by 0.70k or 10.00 percent. While MULTIVERSE MINING AND EXPLORATION PLC rose from ₦2.78k per share to ₦3.05k per share by 0.27k or 9.71 percent.
Conversely, GEREGU POWER PLC led the decliners with a fall from ₦323.00 per share to ₦290.70k per share, losing ₦32.30k or 10.00 percent. Next is TRANSNATIONAL CORPORATION PLC with a fall from ₦2.81k per share to ₦ 2.53k per share by 0.28k or 9.96 percent. And AFRICA PRUDENTIAL PLC fell from ₦5.85k per share to ₦5.30k per share, losing 0.55k or 9.40 percent.
On sectoral performance the Banking (+2.8%), Insurance (+1.3%), Oil & Gas (+1.1%), and Consumer Goods (+0.3%) indices recorded gains, while the Industrial Goods (-0.1%) index declined.
Confidence Okwuchi
