Nigeria Equity Market Halts Downtrend as NGX-ASI Rose Marginally by 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)

Today, the Nigeria equity market halted the four consecutive sessions of a downtrend as the market performance indicators uptick marginally by 0.02% amidst bargain hunting in 16 stocks.

Consequently, the All-Share Index increased by 7.38 basis points representing 0.02 percent appreciation, to close at 47,163.94.

While the Market Capitalization gained ₦3.98Bn, representing a growth of 0.02 percent to close at ₦25.42 trillion.

→ Meanwhile, the market activities were bearish, as the Total Volume and Value dipped by 11.86 percent and 17.61 percent, respectively.

Approximately 267.48 million units valued at ₦3.22 billion were transacted in 4,099 Deals.

FIDELITYBK top the position as the most traded stock in terms of volume, accounting for 25.73 percent of the total volume of trades, followed closely by ACCESS (14.45%), UBA (11.56%), GTCO (8.96%) and ZENITHBANK (4.71%) to complete the top five on the volume chart.

While GTCO emerged as the most traded stock in value terms, with 19.34 percent of the total value of trades on the exchange.

→ CAP topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by STERLNBANK (3.95%), CONOIL (2.92%), FIDELITYBK (1.89%), UCAP (1.63%), NAHCO (1.27%), ACCESS (1.02%), WAPCO (0.85%), UBA (0.66%) and seven (7) others.

On the flip side, sixteen (16) stocks depreciated, led by FCMB with a price decline of 8.72 percent to close at ₦3.35, as TRANCORP (-1.79%), LIVESTOCK (-1.20%), INTBREW (-1.00%), ETI (-0.87%) and ZENITHBANK (-0.19%) also dipped in price.

In that regard, the market breadth closed at par, recording 16 gainers and 16 losers.

→ Subsequently, sectoral performance was positive, as all the five major sectors closed bullishly compared to the previous session, led by Banking (0.25%), Oil & Gas (0.11%) and Industrial Goods (0.08%), respectively.

While the Insurance sector plunged by 0.18%, leaving the Consumer Goods sector unchanged.