Trading of equities resumed on Monday with the benchmark index declining slightly by 0.09% on the floor of the Nigerian Exchange Limited, NGX.
Specifically, the Market Capitalisation declined by ₦50bn or 0.09% to close at ₦55,811trn as compared to Friday’s closing of ₦55,861trn.
The All-Share Index likewise depreciated by 0.09% or 92.77 basis points to close at 101,995.53 basis points as against the 102,088.30 basis points seen on Friday.
Consequently, the MTD and YTD returns moderated to 0.8% and 36.4%, respectively.
Market analysis by Coronation Registrars Limited states “Bearish sentiment in UNITED BANK FOR AFRICA PLC (-0.42%), ACCESS HOLDINGS PLC (-4.30%), and DANGOTE SUGAR REFINERY PLC (-7.67%) overturned the gains in GUARANTY TRUST HOLDING COMPANY PLC (+1.15%), FBN HOLDINGS PLC (+9.68%), and INTERNATIONAL BREWERIES PLC (+6.52%) causing the drag in the market.”
While Cordros Research says “Trading in the domestic stock market carried over last week’s bearish performance as sell pressures on NESTLE NIGERIA PLC (-10.0%) and DANGOTE SUGAR REFINERY PLC (-7.7%) offset demand for FBN HOLDINGS PLC (+9.7%).”
Analysis of today’s market activities showed that the value of transactions rose by 11.69% while the total volume traded increased by 1.1%.
A total of 294.32 million units of shares valued at ₦6.72bn were exchanged in 9,957 deals. FBN HOLDINGS PLC was the most traded stock by volume and value at 73.84 million units and ₦2.42bn, respectively.
As measured by market breadth, market sentiment was positive with 28 stocks gaining, relative to the 25 losers.
NASCON ALLIED INDUSTRIES PLC topped the gainers with a rise from ₦60.00 per share to ₦66.00 per share, gaining ₦6.00 or 10.00%.
JULI PLC followed with an increase from ₦2.34k per share to ₦2.57k per share, gaining 0.23k or 9.83%.
And FBN HOLDINGS PLC trailed with a rise from ₦31.00 per share to close today at ₦34.00 per share, gaining ₦3.00 or 9.68%.
On the reverse side, NESTLE NIGERIA PLC led the losers with a fall from ₦1,100.00 per share to ₦990.00 per share, shedding ₦-110.00 or -10.00%.
Next is ETERNA PLC with a fall from ₦17.55k per share to ₦15.80k per share, losing ₦-1.75k or -9.97%.
Followed by FIDSON HEALTHCARE PLC with a decline from ₦16.80k per share to settle at ₦15.15k per share, thus losing ₦-1.65k or -9.82%.
Sectoral performance was mixed, as the Consumer Goods (-1.5%) and Oil & Gas (-0.4%) indices declined while the Banking (+1.4%) and Insurance (+0.2%) indices advanced. Meanwhile, the Industrial Goods index closed flat.
