Negative sentiment returns to the floor of the Nigerian Exchange Limited, NGX, on Thursday as the All Share Index falls to 107,675.46 basis points from Wednesday’s 107,798.99 basis points, thereby shedding 123.53 basis points or 0.11%.
Likewise, the Market Capitalization declined by 0.11% or ₦77 billion to close at ₦67,102 trillion from ₦67,179 trillion.
The day’s bearish close was driven by selloffs in ECOBANK TRANSNATIONAL INCORPORATED (-9.51%) and LAFARGE AFRICA PLC. (-3.23%)
Consequently, the Month-to-Date and Year-to-Date returns moderated to +3.0% and +4.6%, respectively.
The total volume of trades increased by 72.46% to 423.42 million units of shares, while the trading value rose by 13.67% to ₦9.57 billion, and exchanged in 11,112 deals.
Market activity was dominated by FCMB GROUP PLC, leading in volume with over 102 million shares traded, while Zenith Bank plc commanded the highest transaction value at nearly ₦1.6bn.
As measured by market breadth, market sentiment was however positive with 29 advancing stocks outnumbering 23 decliners.
OANDO PLC led the advancers with a ₦4.80k or 10.00 percent rise, followed by P Z CUSSONS NIGERIA PLC. appreciating by ₦2.95k or 10.00 percent, while HONEYWELL FLOUR MILL PLC trailed with a ₦1.18k or 9.96 percent gain.
On the flip side is FIDSON HEALTHCARE PLC leading the decliners with -₦1.90k or -9.60 percent. ECOBANK TRANSNATIONAL INCORPORATED was next with -₦3.30k or -9.51 fall and GUINEA INSURANCE PLC. fell by -0.06k or -8.33 percent.
On sectors, the Insurance (-0.9%), Banking (-0.8%), Industrial Goods (-0.4%) and Consumer Goods (-0.2%) indices declined, while the Oil & Gas (+0.9%) index advanced.
Olusola Akintonde
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