Trading of equities on the floor of the Nigerian Exchange Limited, NGX has for the first time this week, closed on a negative.
After the close of transactions on Thursday, the All-Share Index, ASI declined from 98,227.50 basis points to 97,992.55 basis points, shedding 234.95 basis points or 0.24%.
In the same vein, the market capitalization depreciated by 0.24% or ₦143 billion to close at ₦59,391 trillion as against yesterday’s ₦59,534 trillion.
The day’s bearish sentiment was driven primarily by losses in tier-1 banking stocks GUARANTY TRUST HOLDING COMPANY PLC (-2.50%), ZENITH BANK PLC (-0.89%) as well as OANDO PLC (-5.59%).
The year-to-date return moderated to 31.05%, while the Month-to-Date stood at +0.4%.
The total trading volume increased by 23.3% even as trade turnover increased by 13.51%.
A total of 467.68m shares valued at ₦9.59bn were exchanged in 10,659 deals. Where FBN HOLDINGS PLC was the most traded stock by volume at 51.11 million units, while LAFARGE AFRICA PLC. was the most traded stock by value at ₦2.31 billion.
As measured by market breadth, market sentiment was positive with 36 advancing issues outnumbering the 24 declining ones.
AUSTIN LAZ & COMPANY PLC (10.00%), EUNISELL INTERLINKED PLC (9.98%) and HALDANE MCCALL PLC (9.95%) led the gainers, while CORONATION INSURANCE PLC (-9.82%), UNIVERSITY PRESS PLC. (-9.09%) and SOVEREIGN TRUST INSURANCE PLC (-8.96%) recorded the highest losses of the day.
Analysing by sectors, the Banking (-1.2%) and Oil & Gas (-0.3%) indices declined, while the Consumer Goods (+0.4%), Insurance (+0.3%), and Industrial Goods (+0.2%) indices gained.
Hauwa Abu
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