Stock Market Opens Week in Red Zone as NGX-ASI shed 0.07%

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Transactions on the Nigeria equity market opened a new week in the red zone as the market indicators shed 0.07 percent following the investors’ sell-off sentiment in few bellwether stocks such as NB, WAPCO, FBNH, and 15 others.

The All-Share Index plunged 38.22 points, representing a 0.07 percent decline, and closed at 51,791.45. While the Market Capitalization lost ₦20.61Bn to decrease by 0.07 percent and closed at ₦27.92 trillion.

→ Meanwhile, the market activities were bullish, as the Total Volume and Value rose by 52.81 percent and 65.33 percent, respectively. Approximately 194.12 million units valued at ₦2.82 billion were transacted in 4,899 Deals.

TRANSCORP emerged as the most traded stock in terms of volume, accounting for 12.92 percent of the total volume of trades, followed closely by GTCO (10.40%), UBA (9.06%), AIICO (7.01%), and FBNH (5.99%) to complete the top five on the volume chart.

Also, MTNN appeared as the most traded stock in value terms, with 28.34 percent of the total value of trades on the exchange.

→ FIDSON topped the advancers’ list with a price appreciation of 9.82 percent, trailed closely by CHIPLC (5.63%), CADBURY (1.23%), ZENITHBANK (1.14%), UACN (0.90%), NGXRGOUP (0.45%), OANDO (0.18%), MTNN (0.13%) and nine (9) others.

On the contrary, eighteen (18) stocks also depreciated, topped by CONOIL with a price depreciation of 9.90 percent, to close at ₦25.95, as CUTIX (-7.69%), NB (-5.02%), WAPCO (-1.51%), ACCESSCORP (-1.06%), FBNH (-0.43%), and UCAP (-0.39%) also dipped in price.

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

→ Conclusively, sectoral performance was bearish, as three of the five sectors closed negatively compared to the previous session, led by Consumer Goods (-0.94%), Oil & Gas (-0.35%), and Industrial Goods (-0.12%).

While Insurance and Banking grew by 0.14% and 0.17%, respectively.