Trading of equities on the floor of the Nigerian Exchange Limited, NGX, began the week on a negative caused by sell-offs in OANDO PLC (-9.98%), MTN NIGERIA COMMUNICATIONS PLC (-2.80%), ARADEL HOLDINGS PLC (-9.99%), and GUARANTY TRUST HOLDING COMPANY PLC (-0.36%).
The decline in the above stocks offset the gains seen in UNITED BANK FOR AFRICA PLC (+10.00%), ACCESS HOLDINGS PLC (+1.81%), and FLOUR MILLS NIG. PLC. (+3.23%).
Consequently, the All-Share Index fell by 0.54% to 96,907.98 basis points from Friday’s 97,432.02 basis points while the market capitalization dipped by ₦317.70bn to close at ₦58.72tn from ₦59.03trn.
Thus, the Month-to-Date and Year-to-Date returns settled at -0.8% and +29.6%, respectively.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 10.15% while the total volume of trades increased by 34.7%.
Hence, a total of 1.22bn shares valued at ₦14.23bn were exchanged in 10,386 deals where UNITED BANK FOR AFRICA PLC was the most traded stock by volume and value with 240.76m units traded in deals worth ₦7.29bn.
As measured by market breadth, market sentiment was negative, with 30 declining issues outnumbering the 17 advancing ones.
Specifically, CAVERTON OFFSHORE SUPPORT GRP PLC, which opened the day’s trading activities at ₦2.00k per share, closed at ₦1.80k per share, losing -0.20k or -10.00 percent. ARADEL HOLDINGS PLC was next with a drop from ₦445.60k per share to settle at ₦401.10k per share, shedding off ₦-44.50k or -9.99 percent. And OANDO PLC depreciated by ₦8.95k or -9.98 percent to close at ₦80.70k per share from ₦89.65k per share.
On the gainer’s chart, however, JOHN HOLT PLC. led with a gain from ₦3.30k per share to close today at ₦3.63k per share, gaining 0.33k or 10.00 percent.
Followed by UNITED BANK FOR AFRICA PLC with a rise in share price from ₦29.00 per share to ₦31.90k per share, by ₦2.90k or 10.00 percent. Third on the list is EUNISELL INTERLINKED PLC appreciating by 0.56k or 9.96 percent to close at ₦6.18k per share from ₦5.62k per share.
Sectoral performance was mixed, as the Insurance (-0.8%) and Oil & Gas (-0.2%) indices settled lower, while the Banking (+1.1%) and Consumer Goods (+0.2%) indices advanced. The Industrial Goods index closed flat.
Olusola Akintonde
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