Sell-off in BUACEMENT, CADBURY, and 12 Others Dips Equity Market by 0.47%

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Trading activities on the Nigerian equity market closed bearish today, as the market performance indicators (NGX-ASI and Market Capitalization) dipped by 0.47%.

Consequently, the market index (All-Share Index) reduced by 231.57 basis points, representing a decline of 0.47% to close at 49,190.34.

The Market Capitalization lost ₦124.91 bn, also representing a decrease of 0.47% to close at ₦26.53 trillion from ₦26.66 trillion the previous day.

Nonetheless, market activities were up as the Total Volume and Total Value traded for the day increased by 144.49% and 202.00% respectively.

Approximately 126.84 million units valued at ₦1,781.81 million were transacted in 3,117 deals.

NGXGROUP was the most traded stock in terms of volume, accounting for 24.25% of the total volume of trades, followed by ZENITHBANK (19.23%), FIDELITYBK (10.91%), FBNH (8.70%), and ACCESSCORP (6.49%) to complete the top 5 on the volume chart.

Also, NGXGROUP emerged as the most traded stock in value terms, with 31.07% of the total value of trades on the exchange.

TRANSEXPR topped the advancers’ chart with a price appreciation of 8.70 percent, trailed by NEM (2.67%), CUTIX (2.50%), ACADEMY (2.41%), INTBREW (2.02%), and five (5) others.

Fourteen (14) stocks depreciated, topped by CORNERST with a price depreciation of 10.00% to close at ₦0.54, as MULTIVERSE (-9.90%), CADBURY (- 9.62%), BUACEMENT (-6.18%), NGXGROUP (-2.96%), UNILEVER (-2.62%) and GTCO (-0.78%) also dipped in price. In that regard, the market breadth closed negative, recording 10 gainers and 14 losers.

Also, the sector performance was negative, as four out of the five major market sectors closed bearish, led by the Industrial sector (-2.30%), trailed by the Consumer goods (-0.36%), the Insurance (-0.32%), and the Oil & Gas sectors (-0.20%), while the Banking sector (+0.42%) closed positive.