Trading in the local bourse was positive for most of the day, however, late sell-offs of MTN N (1.3%) ensured the market closed lower.
Analysis according to Cordros Asset management company states that the All-Share Index declined by 0.3% to 42,244.22 points. Consequently, the Month-to-Date loss increased to -2.3%, while the Year-to-Date return moderated to +4.9%.
The total volume traded decreased by 18.8% to 224.03 million units, valued at NGN2.66 billion, and exchanged in 2,677 deals.
UACN was the most traded stock by volume and value at 77.37 million units and NGN696.47 million, respectively.
As measured by market breadth, market sentiment was positive (1.1x) as 15 tickers gained relative to 14 losers.
CUTIX, MAYBAKER and UPDC topped the gainers table by 0.24 or 10.00 percent, 0.41 or 10.00 percent and 0.09 or 7.76 percent, respectively.
On the reverse side, ROYALEX, LASACO and UBN were the top three losers with -0.05k or 6.67%, -0.07k or -6.36% and -0.25k or -5.15%.
Across sectors, the Banking (-1.0%), Oil & Gas (-0.8%), and Industrial Goods (-0.2%) indices declined while the Consumer Goods (+0.6%) and Insurance (+0.6%) indices posted gains.
Bilkisu Pai
