Nigeria’s domestic stock market has remained negative at the close of business on Thursday, as performance indices the NGX-ASI and the Market Capitalisation” both decreased by -0.41% for the third consecutive day.
The market downward trend reflected sustained profit-taking activities, which resulted in significant price decline in some medium and large cap stocks, across key market sectors.
Consequently, the market key index- All-Share Index depreciated by -802.39 basis points in today’s trading session, representing a -0.41% decline to close at 193,567.81 points while Market Capitalization dipped further by ₦514.99 billion, representing a decline of -0.41%, to settle at ₦124.24 trillion.
Performance
The market sectoral performance was negative on Thursday as four of the five major market sectors declined.
The Industrial goods sector declined by -1.19%, followed by the Banking sector with a -0.63%, the Insurance sector had a -0.32% drop, and the Consumer goods sector dropped by -0.03%. Only the Oil & Gas sector increased by +0.12%.
The market activities were also down as the total volume of trades and value traded dropped by -36.01% and -30.58% respectively.
A total of 868.54 million units of shares valued at ₦31,484.85 million exchanged hands in 69,310 deals.
Trade Volume
As regards volume, JAIZBANK for the third time in a roll generated 9.16% to emerge the most traded stock, followed by JAPAULGOLD with 8.50%, ACCESSCORP with 7.76%, CHAMS with 6.60%, and ZENITHBANK with 5.28%.
On value traded, ZENITHBANK generated 12.93% of the total value of trade, thereby making it the highest traded stocks on the exchange.
The market sentiment closed negative with 29 gainer relative to 38 decliners.
FTNCOCOA led the gainers list by generating +10.00% on its share price. RTBRISCOE followed with +9.95% profit. DEAPCAP recorded a +9.92% gain on its share price and twenty-26 others.
Among the thirty-eight loser’s, JAIZBANK led the chart with a -9.98% loss on its share price, followed by IKEJAHOTEL with a -9.90% drop, JOHNHOLT had -9.90% decline, ENAMELWA -9.88%, CADBURY -9.69%, and GUINEAINS recorded an -8.63% loss.