The Nigeria stock market opened the new month with a bearish sentiment as the market performance indicators (NGX-ASI and Market Capitalisation) plunged by 0.83 percent following the price depreciation in BUACEMNT and some other stocks in the Banking sector. As a result, the All-Share Index tanked 419.93 points, representing a 0.83 percent decrease, and closed at 49,950.32. While the Market Capitalization lost ₦226.45 to dip by 0.83 percent and closed at ₦26.94 trillion.
→ Similarly, the market activities were bearish, as the Total Volume and Value dipped by 30.90 percent and 19.21 percent, respectively. Approximately 254.77 million units valued at ₦2.82 billion were transacted in 4,905 Deals. GTCO emerged as the most traded stock in terms of volume, accounting for 12.19 percent of the total volume of trades, followed closely by ZENITHBANK (11.67%), ACCESCCORP (9.58%), FBNH (8.17%), and TRANCORP (3.99%) to complete the top five on the volume chart. While ZENITHBANK remained the most traded stock in value terms, with 18.91 percent of the total value of trades on the exchange.
→ On the profitability chat, CAVERTON and COURTILLE let the gainers list by 10.00 percent, followed closed by LIVESTOCK (8.70%), UCAP (7.21%), UNILEVER (2.82%), ZENITHBANK (1.45%), HONYFLOUR (0.98%), GTCO (0.76%) and twelve (12) others. On the contrary, thirteen (13) stocks depreciated, topped by BUACEMENT with a price depreciation of 9.96 percent, to close at ₦62.4, as INTBREW (-6.54%), UACN (-6.25%), STERLNBANK (-3.23%), ACCESSCORP (-1.11%), and FBNH (-0.45%) also dipped in price. In that regard, the market breadth closed remained positive, recording 20 gainers and 13 losers.
→ In the meantime, sectoral performance was mixed, as two of the five sectors closed positively compared to the previous session, namely, Banking (0.19%) and Insurance (0.12%), while the Industrial Goods and Consumer Goods dipped by 4.18% and 0.13%, respectively, leaving the Oil & Gas sector unchanged.