The Equities market of the Nigerian Exchange Limited, NGX has reversed to a negative close on Wednesday with the benchmark index slipping by 0.02% to close at 46,766.16 points as against yesterday’s 46,777.37 basis points.
The market capitalization also shed 0.02% or ₦6.04bn to close at ₦25.21trn from ₦25.218trn obtained on Tuesday.
This decline is attributed to selloffs in Tier-1 banks, GUARANTY TRUST HOLDING COMPANY PLC with a 1.12% loss and ZENITH BANK PLC with a 0.44% decline, offsetting gains in UNITED BANK FOR AFRICA PLC which upped 1.97% and SEPLAT ENERGY PLC which increased by 1.05%.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 3.91% as a total of 261.60m shares valued at ₦2.43bn were exchanged in 4,668 deals when compared to yesterday’s total of 257.41m shares valued at ₦2.34bn which were exchanged in 4,410 deals.
FIDELITY BANK PLC led the volume chart for the second consecutive session, with 81.75m units traded, while MTN NIGERIA COMMUNICATIONS PLC led the value chart in deals worth ₦380.26m.
As measured by market breadth, market sentiment was negative as 18 stocks lost relative to 16 gainers.
NPF MICROFINANCE BANK PLC is for the second consecutive session, leading seventeen (17) others on the laggard’s table decreasing by 9.78%, followed by R T BRISCOE PLC which fell by 8.9%.
On the flip side, REGENCY ASSURANCE PLC topped fifteen (15) others on the gainer’s log by 10.00% and LIVESTOCK FEEDS PLC was next with a 9.6% gain.
Analysing by sectors, the Insurance index grew by 0.5%, Oil & Gas index upped 0.2%, and Banking index increased 0.2%, while the Industrial Goods index closed flat. The Consumer Goods index was the sole loser of the day with a 1.6% fall.
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