Profit-taking activities in telecom giant, MTN NIGERIA COMMUNICATIONS PLC (-5.52%) as well as Tier-1 banks; ZENITH BANK PLC (-2.03%) and GUARANTY TRUST HOLDING COMPANY PLC (-2.53%) negatively redirected Monday’s market performance with the benchmark index declining by 0.73%.
These selloffs offset the gains in GEREGU POWER PL(+8.26%), STANBIC IBTC HOLDINGS PLC (+0.08%) and FLOUR MILLS NIG. PLC (+0.73%).
Consequently, the All-Share Index dipped by 0.73% to close at 103,659.81 basis points while the market capitalization shed ₦436.97bn to close at ₦56.72trn.
Thus the Month-to-Date and Year-to-Date returns moderated to +2.5% and +38.6%, respectively.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, as the total volume traded decreased by 10.8% and the value of transactions depreciated by 17.67%.
A total of 841.55 million shares valued at ₦19.33 billion were exchanged in 13,674 deals. FBN HOLDINGS PLC was the most traded stock by volume and value as 332.30m units were traded in deals worth ₦8.95bn.
As measured by market breadth, market sentiment was slightly negative, with 28 declining issues outnumbering the 27 advancing ones.
ABBEY MORTGAGE BANK PLC (-9.70%) and LIVESTOCK FEEDS PLC (-9.66%) recorded the most significant losses of the day, while CADBURY NIGERIA PLC (+10.00%) and CORNERSTONE INSURANCE PLC (10.00%) topped the gainers’ list.
Sectoral performance was mixed, as the Insurance (+2.7%) index advanced while the Banking (-2.3%) index declined. Meanwhile, the Consumer Goods, Industrial Goods and Oil & Gas indices closed flat.
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