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.
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.