Equity Market Closed Bearish, as Savings Bond Rates Surge

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Trading activities on the Nigerian custom street resumed bearish, as the market performance indicators (NGX-ASI and Market Capitalization) declined by 0.11%.

Consequently, the market index (All-Share Index) decreased by 54.42 basis points, representing a fall of 0.11% to close at 49,991.41. The Market Capitalization lost
₦29.12 bn, also representing a decline of 0.11% to close at ₦26.96 trillion from ₦26.99 trillion the previous day.

Furthermore, market activities were negative as the Total Volume and Value traded for the day were down by 16.29% and 45.99% accordingly. Approximately 200.92 million units valued at ₦1.45 billion were transacted in 3,976 deals.

STERLNBANK was the most traded stock in terms of volume, accounting for 45.24% percent of the
total volume of trades, followed by FIDELITYBK (5.77%), UBA (5.30%), GTCO (4.98%), and ZENITHBANK (4.72%) to complete the top five on the volume chart.

Also, MTNN emerged as the most traded stock in value terms, with 17.46% percent of the total value of trades on the exchange.

CHAMS topped the advancers’ chart with a price appreciation of 7.69 percent, trailed by FLOURMILL (4.46%), NB (3.72%), PHARMDEKO (2.63%), NPFMCRFBK (2.47%), FIDELITYBK (1.76%), HONYFLOUR (1.58%) and Five (5) others. On the Contrary, sixteen (16) stocks depreciated, topped by ABCTRANS with a price depreciation of 9.68%
to close at ₦0.28, as JAPAULGOLD (-9.09%), NGXGROUP (-4.55%), WAPCO (-4.20%), FTNCOCOA (-3.33%), STANBIC (-3.03%), ZENITHBANK (-2.33%) and UBA (-1.38%) also dipped in price.

In that regard, the market breadth closed negative, recording 12 gainers and 16 losers.

Also, the sector performance was negative as three out of the five major market sectors closed in the southward direction, led by the Banking (-0.91%), trailed by the Industrial (-0.35%), and the Insurance (-0.07%) sectors, while the Consumer goods sector (+0.55%) closed positive and the Oil & Gas sector was unchanged.