Bear Sustains Dominance as Investors Wealth Plunge ₦35Billion

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Lagos Custom street bear sustained dominance for the third consecutive trading session as investors’ wealth plunged by ₦ 35 billion following the sell-off in 22 high and medium capitalized stocks. Consequently, the All-Share Index dipped by 64.52 points, representing a 0.12 percent decrease, and closed at 52,122.00. While the Market Capitalization lost ₦34.79Bn to decrease by 0.12 percent and closed at ₦28.11 trillion.

→ Similarly, the market activities were bearish, as the Total Volume and Value tanked by 36.23 percent and 35.35 percent, respectively. About 151.94 million units valued at ₦2.16 billion were transacted in 3,447 Deals. GTCO emerged as the most traded stock in terms of volume, accounting for 22.28 percent of the total volume of trades, followed closely by UBA (9.37%), UACN (8.21%), ACCESSCORP (6.82%), and ZENITHBANK (6.24%) to complete the top five on the volume chart. Also, GTCO emerged as the most traded stock in value terms, with 32.81 percent of the total value of trades on the exchange.

→ MULTIVERSE topped the advancers’ list with a price appreciation of 9.55 percent, trailed closely by CORNERST (9.09%), CHIPLC (1.52%), UACN (0.90%), OANDO (0.58%) and ACCESSCORP (0.55%), and seven (7) others. On the other hand, twenty-two (22) stocks also depreciated, topped by INTBREW with a price depreciation of 9.17 percent, to close at ₦4.95, as CHAMS (-7.41%), HONYFLOUR (-2.40%), WAPCO (-1.89%), TRANSCORP (-1.64%), FBNH (-0.89%), UCAP (-0.78%), UBA (-0.68%), MANSARD (-0.51%), and GTCO (-0.24%) also dipped in price. In that regard, the market breadth closed at largely negative, recording 13 gainers and 22 losers.

→ Consequently, sectoral performance was bearish as three of the five sectors closed negatively compared to the previous session, led by Consumer Goods (-0.41%), Banking (-0.36%), and (-0.14%). While the Insurance and Oil & Gas sector grew by 0.79% and 0.09%, respectively.