Stock Market End Week in Red, Completes Longest Bearish Run Since May


On Friday, the Nigerian stock market closed the week on a negative note to complete the longest bearish run since May.

Today’s decline follows investors sell-off in blue-chip stocks, such as FBNH, MTNN, ZENITHBANK and 15 others.

Resultantly, the market index (All-Share Index) dropped 80.07 basis points, representing a decline of 0.19 percent to close at 42,167.91.

While the Market Capitalization lost ₦41.78Bn, representing a decrease of 0.19 percent to close at ₦22.00 trillion.

→ Similarly, the market activities were bearish as the Total Volume and Value traded declined by 44.15 percent and 54.19 percent, respectively. 180.95 million units valued at ₦2.43 billion were transacted in 4,019 Deals.

GTCO topped as the traded stock in terms of volume, accounting for 13.25 percent of the total volume of trades, followed closely by MBENEFIT (11.16%), ACCESS (10.35%), ETI (5.22%), and UCAP (5.21%) to complete the top five on the volume chart.

Also, GTCO emerged as the most traded stock in value terms, with 23.98 percent of the total value of trades on the exchange.

→ In terms of profitability, UPDC appeared as the most profitable stock to lead the advancers’ chart with a price appreciation of 10.00 percent, trailed by UCAP (3.13%), NGXGROUP (1.19%), AIRTELAFRI (0.53%), WAPCO (0.41%)and eight (8) others.

On the flipside, 18 stocks depreciated, topped by FTNCOCOA with price depreciation of 7.89 percent to close at ₦0.35, as FBNH (-2.07%), GTCO (-1.63%), MTNN (-1.30%), ACCESS (-1.11%), ZENITHBANK (-0.21%) and FLOURMILL (-0.17%) also dipped in price.

In that regard, the market breadth closed negative, recording 13 gainers and 18 losers.

→ Therefore, the sector performance was mixed, as Consumer Goods (-0.09%) and Banking (-0.06%) declined, respectively, Insurance (2.00%) and Industrial Goods (0.02%) grew accordingly, while the Oil & Gas sector remained unchanged as against the previous session.

Naija247news Media Nigeria
Naija247news Media Nigeria
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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