Bearish performance kick started this week’s trading activities of equities on the floor of the Nigerian Exchange Limited (NGX) as profit-taking witnessed in NESTLE, which declined 2.5%, drove the index lower.
Thus, the All-Share Index declined by 0.1% to 38,287.58 basis points from 38,324.07 basis points, while the Market Capitalization dropped to N19,956 trillion Naira from N19,975 trillion Naira.
The total volume of trades decreased by 19.1% to 141.09 million units of shares, valued at N1.09 billion and exchanged in 3,566 deals.
UACN PROPERTY DEVELOPMENT COMPANY PLC was the most traded stock by volume at 17.34 million units of shares, while ZENITH BANK PLC was the most traded stock by value at N166.08 million.
As measured by market breadth, market sentiment was neutral with both the gainers and losers table having equal number of stocks (17) recorded.
ROYAL EXCHANGE PLC topped the gainers by 9.7% and REGENCY ASSURANCE PLC followed with a 8.8% gain, while ASSOCIATED BUS COMPANY PLC led the losers with a 9.8% decline followed right after by NIGERIAN ENAMELWARE PLC with a 9.8% fall.
Analyzing by sectors, the Consumer Goods index gained the most by 0.5%. Oil & Gas index was next with a 0.2% growth and Industrial Goods index increased with 0.1%, while the Insurance and Banking indices both declined by 0.7% and 0.7% respectively.
Amaka E. Nliam
