Seplat, NB, 15 Others Reverse Equity Market Positive Sentiment as NGX-ASI Shed 0.02%

Stockbrokers work at the Nigerian Stock Exchange in Lagos on May 16, 2019. - Africa's largest mobile phone operator, MTN, listed shares on the Nigerian Stock Exchange (NSE) in a $6 billion flotation reflecting its increasing presence in the Nigerian market, its largest. (Photo by PIUS UTOMI EKPEI / AFP) (Photo credit should read PIUS UTOMI EKPEI/AFP via Getty Images)

Negative sentiment returned to the Nigeria equity market as the bear fought back on Thursday to drag the market sentiment marginally lower by 0.02 percent.

The decline follows the investors’ profit-taking in highly capitalized stocks such as Seplat, NB and 15 others.

Consequently, the All-Share Index tanked 11.24 basis points representing 0.02 percent depreciation, to close at 47,353.22.

While the Market Capitalization lost ₦6.05Bn, representing a decline of 0.02 percent to close at ₦25.52 trillion.

→ Meanwhile, the market activities were bullish, as the Total Volume and Value improved by 65.30 percent 53.51 percent, respectively.

Approximately 239.73 million units valued at ₦3.89 billion were transacted in 3,848 Deals.

VERITASKAP led as the most traded stock in terms of volume, accounting for 12.52 percent of the total volume of trades, followed closely by UBA (11.57%), FBNH (9.60%), GTCO (7.61%) and FIDELITYBK (6.72%) to complete the top five on the volume chart.

While MTNN emerged as the most traded stock in value terms, with 24.70 percent of the total value of trades on the exchange

→ UACN topped the advancers’ chart with price maximum appreciation of 10.00 percent, trailed by PRESCO (6.40%), JAPAULGOLD (3.03%), NGXGROUP (1.93%), FBNH (1.70%), TRANSCORP (0.90%) OKOMUOIL (0.70%), GTCO (0.19%), ZENITHBANK (0.19%) and nine(9) others.

On the other hand, seventeen (17) stocks remain depreciated, led by NIGERINS with price depreciation of 9.09 percent to close at ₦0.20, as SEPLAT (-3.13%), NB (-1.98%), DANGSUGAR (-1.25%), UBN (-0.80%), UCAP (-0.80%), UNILEVER (-0.74%), UBA (-0.58%) and HONYFLOUR (-0.27%) also dipped in price.

In that regard, the market breadth closed marginally positive, recording 18 gainers and 17 losers.

→ Subsequently, sectoral performance was mixed, as two of the five major sectors closed positive compared to the previous session, namely Insurance (0.08%) and Banking (0.01%).

While another two sectors, such as Oil & Gas (-1.76%) and Consumer Goods (-0.45%), closed bearishly, leaving Industrial Goods sector unchanged.