The Nigerian equities market commenced the week on a bearish note with the benchmark index depreciating by 0.52%.
Specifically, the All-Share Index declined by 0.52% or 599.27 basis points to 114,017.48 basis points from 114,616.75. While the Market Capitalization fell from ₦72,275 trillion to ₦71,898 trillion, losing ₦377 billion or 0.52%.
Accordingly, the Year-to-Date returns for the All Share Index settled higher at 10.78% while that of the market capitalization grew +14.55%.
The market bearish performance was driven by selloffs in ARADEL HOLDINGS PLC (-9.09%), ACCESS HOLDINGS PLC (-4.74%), MTN NIGERIA COMMUNICATIONS PLC (-2.88%) and ZENITH BANK PLC (-0.89%). These losses outweighed gains in GUARANTY TRUST HOLDING COMPANY PLC (+1.64%), UNITED BANK FOR AFRICA PLC (+1.94%), HONEYWELL FLOUR MILL PLC (+5.37%) and FIDELITY BANK PLC (+2.60%).
The market activity was mixed with total trading volume dropping by 55.36% to 652.64 million units, while the value of transactions increased by 13.16% to ₦18.88 billion with the number of trades executed increasing by 46.12% to 23,978 deals.
ACCESS HOLDINGS PLC was the most traded stock by volume at 88.30 million units of shares, while GUARANTY TRUST HOLDING COMPANY PLC was the most traded stock by value at ₦3.34 billion.
As measured by market breadth, market sentiment was positive as 35 tickers gained relative to 25 losers.
Recording the biggest gain of the day is BERGER PAINTS PLC with a rise in selling price from ₦20.50k per share to ₦22.55k per share, gaining ₦2.05k or 10.00%. DAAR COMMUNICATIONS PLC followed with a 0.06k or 10.00% gain to settle at 0.66k per share from 0.60k per share. And E-TRANZACT INTERNATIONAL PLC was next with a rise from ₦6.00 per share to ₦6.60k per share, gaining 0.60k or 10.00%.
On the flip side is R T BRISCOE PLC. topping the chart with a fall from ₦2.50k per share to ₦2.25k per share, losing -0.25k or -10.00%. Next is JOHN HOLT PLC. with a fall from ₦7.60k per share to ₦6.85k per share, losing -0.75k or -9.87%. And BETA GLASS PLC. fell from ₦232.65k per share to ₦210.10k per share, losing ₦-22.55k or -9.69%.
Analysing by sectors, the Consumer Goods (+2.6%) and Banking (+0.3%) indices advanced, while the Oil & Gas (-2.8%), Insurance (-0.6%) and Industrial Goods (-0.1%) indices declined.
Hauwa Abu