Equity Market Sheds 0.15% to Begin New November in Red


The Nigeria equity market kick starts the new month on a negative note as the market indicators declined by 0.15 percent.

The negative sentiment was driven by price decline in Banking, Consumer Goods and Oil & Gas sectors as investors begin profit-taking from the recent price appreciation.

Consequently, the All-Share Index decreased by 61.81bps, representing a decline of 0.15 percent to close at 41,976.79. While the Market Capitalization lost ₦32.26Bn, representing a dip of 0.15 percent to close at ₦21.91 trillion.

→Similarly, the market activities traded negative, as the Total Volume and Value dipped significantly by 66.53 percent and 76.46 percent. A total of 378.15 million units valued at ₦3.24 billion were transacted in 6,384 Deals.

MBENEFT topped the traded stocks in terms of volume, accounting for 13.87 percent of the total volume of trades, followed by UBA (7.75%), FBNH (7.29%), AIICO (7.13%), and TRANSCORP (6.93%) to complete the top five on the volume chart.

While, ZENITHBANK appeared as the most traded stock in value terms, with 10.48 percent of the total value of trades on the exchange.

→On the profitability table, FIDSON led in the gainers’ chart as its share prices appreciated by 9.92 percent, trailed GUINNESS (9.92%), GLAXOSMITH (6.56%), WEMABANK (4.94%), WAPCO (1.85%), VITAFOAM (1.08%), STERLNBANK (0.67%), FLOURMILL (0.17%), STANBIC (0.13%) and 10 others.

On the other hand, 31 stocks depreciated in price led by ETERNA with price decline of 9.94 percent to close at ₦7.79, as HONYFLOUR (-7.78%), CUTIX (-4.76%), ETI (-4.49%), FBNH (-2.71%), UCAP (-2.17%), LIVESTOCK (-1.35%), NB (-0.94%), GTC0 (-0.87%), UBA (-0.58%), ACCESS (-0.53%) and ZENITHBANK (-0.40%), also depreciated in price.

In conclusion, the market breadth closed negative, recording 20 gainers and 31 losers.

Naija247news Media Nigeria
Naija247news Media Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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