Sell Pressure Continues as Investors’ Wealth Shed ₦51Billion

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On Tuesday, the Nigeria stock market sustained the negative sentiment to four consecutive trading sessions as investors’ wealth depreciated further by ₦51Billion.

The decline follows the persistent sell pressure in all the major market sectors. Consequently, the All-Share Index shed 95.37 basis points representing 0.20 percent depreciation, to close at 47,156.56.

While the Market Capitalization lost ₦51.40Bn, representing a decline of 0.20 percent to close at ₦25.41 trillion.

→ Meanwhile, the market activities were bullish, as the Total Volume and Value rose by 42.10 percent and 45.87 percent, respectively.

Approximately 303.48 million units valued at ₦3.90billion were transacted in 4,616 Deals.

ACCESS maintained the top position as the most traded stock in terms of volume, accounting for 14.55 percent of the total volume of trades, followed closely by UBA (13.03%), FIDELITYBK (10.99%), GTCO (9.34%) and ZENITHBANK (9.30%) to complete the top five on the volume chart.

While ZENITHBANK remained the most traded stock in value terms, with 19.42 percent of the total value of trades on the exchange.

→ NPFMCRFBK topped the advancers’ chart with a price appreciation of 9.52 percent, trailed by FCMB (7.94%), FIDELITYBK (3.58%), FBNH (0.84%), UBN (0.82%), CADBURY (0.56%), ACCESS (0.51%), DANGSUGAR (0.32%) and eight (8) others.

On the flip side, twenty-nine (29) stocks depreciated, led by JAPAULGOLD with price decline of 8.82 percent to close at ₦0.31, as OANDO (-6.75%), ETI (-3.36%), NESTLE (-2.79%), GUINNESS (-2.10%), UBA (-1.94%), HONYFLOUR (-1.64%), WAPCO (-1.25%), UCAP (-1.21%), LIVESTOCK (-1.18%), NGXGROUP (-0.64%), GTCO (-0.57%) and ZENITHBANK (-0.19%) also dipped in price. In that regard, the market breadth closed largely negative, recording 16 gainers and 29 losers.

→ Consequently, sectoral performance was bearish, as all the five major sectors closed negative compared to the previous session, led by Consumer Goods (-1.55%), Insurance (-1.38%), Oil & Gas (-1.01%), Banking (-0.38%) and Industrial Goods (-0.08%), respectively.