Consumer Good Sector Drags Equity Market Lower as NGX-ASI Tank 0.02%

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On Wednesday, the bear in the Nigeria equity market regained strength to fight back the previous session’s positive sentiment. The decline follows the sell-off of stocks in the Consumer Good sector.

Consequently, the All-Share Index tanked 11.21 basis points representing a 0.02 percent dip, closed at 46,766.16. While the Market Capitalization lost ₦6.04Bn, representing a decrease of 0.02 percent to close at ₦25.21 trillion.

→ Meanwhile, the market activities were bullish, as the Total Volume and Value surged by 1.62 percent and 3.91 percent, respectively. About 261.59 million units valued at ₦2.43 billion were transacted in 4,668 Deals.

FIDELITYBK remained the most traded stock in terms of volume, accounting for 31.25 percent of the total volume of trades, followed closely by TRANSCORP (11.74%), GTCO (5.92%), ACCESSCORP (5.83%) and ZENITHBANK (3.82%) to complete the top five on the volume chart.

While MTNN emerged as the most traded stock in value terms, with 15.62 percent of the total value of trades on the exchange.

→ REGALINS topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by LIVESTOCK (9.59%), WEMABANK (3.45%), HONYFLOUR (2.96%), UBA (1.97%), UCAP (1.20%), SEPLAT (1.05%), FCMB (0.94%), CUTIX (0.46%) and seven (7) others.

On the flip side, eighteen (18) stocks depreciated, led by NPFMCRFBK with a price decline of 9.78 percent to close at ₦2.03, as JAIZBANK (-4.48%), OANDO (-2.89%), NASCON (-2.46%), NGXGROUP (-2.30%), TRANSCORP (-2.00%), GTCO (-1.12%), NB (-1.11%), INTBREW (-1.02%) and ZENITHBANK (-0.44%) also dipped in price. In that regard, the market breadth was negative, recording 16 gainers and 18 losers.

→ Meanwhile, sectoral performance was positive, as four of the five major sectors closed bullishly compared to the previous session, led by Insurance (0.48%), Oil & Gas (0.20%), and Banking (0.15%) and Industrial Goods (0.001%), respectively. While the Consumer Good sectors dipped 0.22% as against the prior session.