The Nigerian equities market began this week’s trading activities on a bearish note, with the benchmark index declining by 0.12 percent.
The All-Share Index declined by 0.12 percent or 28.16 basis points from 22,733.35 basis points, to close at 22,705.19 basis points.
On the flip side, the Market Capitalisation also dipped 0.12 percent or 15 billion Naira from previous closing of 11,847 trillion Naira, closing on Monday at 11,832 trillion Naira.
Monday’s decline, according to Analysis by Cordros securities, was “driven by investors’ sell-off of UNITED BANK FOR AFRICA PLC, FBN HOLDINGS PLC, and LAFARGE AFRICA PLC stocks. Thus, the Month-to-Date and Year-to-Date losses worsened to -13.4% and -15.4%, respectively.”
The total volume of trades decreased by 24.8% to 551.48 million units of shares, valued at N5.76 billion and exchanged in 6,981 deals.
GUARANTY TRUST BANK PLC was the most traded stock by volume and value at 137.23 million units and N2.61 billion, respectively.
On sector performance, all sector indices declined with the exception of the Insurance and Banking indices which gained 1.3% and 0.6% respectively.
The Industrial Goods index fell by 0.5%, and the Consumer Goods index declined 0.2% however the Oil & Gas index closed flat at 215.81 basis points.
Market sentiment, as measured by market breadth, was positive, as 18 stocks gained, relative to 14 losers.
Leading the gainer’s chart on Monday was COURTEVILLE BUSINESS SOLUTIONS PLC, which commenced today’s trading at 0.20k per share and closed at 0.22k per share, gaining 0.02k or 10.00 percent.
Followed by LASACO ASSURANCE PLC which opened at 0.20k per share and closed at 0.22k per share, also gaining 0.02k or 10.00 percent.
And NIGER INSURANCE PLC had an opening price of 0.20k per share and a closing price of 0.22k per share, also gaining 0.02k or 10.00 percent.
Conversely, TRANSNATIONAL CORPORATION OF NIGERIA PLC led the losers’ table when it opened at 0.70k per share and closed at 0.63k per share, losing 0.07k or 10.00 percent.
Then SKYWAY AVIATION HANDLING COMPANY PLC followed right after with an opening price of N2.57k per share and a closing price of N2.32k per share, declining by 0.25k or 9.73 percent.
While JAIZ BANK PLC declined by 0.04k or 9.30 percent from a selling price of 0.43k per share to a present selling price of 0.39k per share.