Negative Sentiment Persists Amid Sell-Off in 16 Stocks

Date:

The Nigeria Local Bourse shed 0.4 percent as negative sentiment persisted in the new week amidst sell-offs in some medium and highly capitalized stocks such as BUAFOODS, CAP, and 14 others.

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The All-Share Index plunged 204.95 points, representing a 0.40 percent decline, and closed at 51,586.50. While the Market Capitalization lost ₦110.49Bn to decrease by 0.40 percent and closed at ₦27.81 trillion.

→ Meanwhile, the market activities were mixed, as the Total Volume rose by 40.86 percent while the Total Value dipped by 8.95 percent. About 234.61 million units valued at ₦2.57 billion were transacted in 4,646 Deals.

CAP emerged as the most traded stock in terms of volume, accounting for 12.50 percent of the total volume of trades, followed closely by GTCO (12.37%), UBA (10.83%), TRANSCORP (10.17%), and STERLNBANK (7.01%) to complete the top five on the volume chart.

While, GTCO appeared as the most traded stock in value terms, with 23.05 percent of the total value of trades on the exchange.

→ REDSTAREX topped the advancers’ list with a price appreciation of 10.00 percent, trailed closely by CADBURY (3.64%), LIVESTOCK (3.13%), ACCESSCORP (1.61%), NGXGROUP (1.12%), TRANSCORP (0.81%), UCAP (0.39%), WAPCO (0.38%) and fifteen (15) others.

On the contrary, sixteen (16) stocks also depreciated, topped by INTBREW with a price depreciation of 9.52 percent, to close at ₦5.7, as BUAFOODS (-6.36%), CAP (-6.34%), FBNH (-5.63%), ZENITHBANK (-2.04%), STERLNBANK (-1.32%), and HONYFLOUR (-0.72%) also dipped in price.

In that regard, the market breadth closed positive, recording 23 gainers and 16 losers.

→ Conclusively, sectoral performance was bearish, as three of the five sectors closed negatively compared to the previous session, led by Consumer Goods (-0.58%), Banking (-0.53%), and Insurance (-0.48%). While Industrial Goods grew marginally by 0.01%, leaving Oil & Gas unchanged.

Gbenga Samson
Gbenga Samsonhttp://ThisDayLive.com
Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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