Equity Market Halts Positive Sentiment, Shed 0.15%


Bearish sentiment prevailed on the Nigeria equity market as investors wealth declined by ₦30 billion.

The decline was driven by the price depreciation in all of the major market sectors, save for the Insurance sectors that grew by 0.47 percent.

In summary, the All-Share Index dipped 57.03bps, representing a 0.15 percent decrease to close at 38,911.31.

While the Market Capitalization lost ₦29.71bn, meaning a downward of 0.15 percent to close at ₦20.27 trillion.

→ Similarly, the market activities traded bearishly, as both the total volume and value traded nosedived by 7.93 percent and 52.00 percent, respectively.

A total of 130.20 million units of shares valued at ₦1.43 billion were traded in 2,962 deals.

ACCESS outdid the traded stocks in terms of volume, accounting for 19.03 percent of the total volume of trades, followed by UNIVINSURE (11.72%), ZENITHBANK (6.52%), GTCO (5.19%), and JAPAULGOLD (4.60%) to complete the top five on the volume chart.

Also, ACCESS emerged as the most traded stock in value terms, with 16.13 percent of the total value of trades on the exchange.

→ UNITYBNK led the advancers table with price appreciation of 9.62 percent, trailed closely by CHAMS (5.00%), UCAP (1.83%), STERLNBANK (1.35%), AFRIPRUD (0.82%) and four others.

Conversely, ETERNA topped the decliners chart as its share price declined by 9.44 percent to close at ₦6.52, as HONYFLOUR (-3.93%), WAPCO (-2.22%), OANDO (-1.52%), FBNH (-1.32%), DANGSUGAR (-0.58%) and GTCO (-0.55%) amongst others also decline in price.

In conclusion, the market breadth closed negatively, recording 9 gainers and 17 losers.