Equity Market Down for the Third Consecutive Week, as NGX-ASI Declines by 0.91% w/w


The Nigerian equity market closed trading activities for the week bearish, as the market performance indicators (NGX-ASI and Market Capitalization) recedes by 0.33%.

Consequently, the market index (All-Share Index) dropped by 163.72 basis points, representing a decline of 0.33% to close at 49,026.62.

The Market Capitalization lost ₦88.31 bn, also representing a decrease of 0.33% to close at ₦26.44 trillion from ₦26.53 trillion the previous day.

However, market activities were up as the Total Volume and Total Value traded for the day increased by 33.38% and 79.16% respectively.

Approximately 169.18 million units valued at ₦3,192.30 million were transacted in 3,206 deals.

COURTVILLE was the most traded stock in terms of volume, accounting for 16.36% of the total volume of trades, followed by NGXGROUP (14.50%), ZENITHBANK (12.31%), TRANSCORP (6.59%), and JAIZBANK (6.41%) to complete the top 5 on the volume chart.

Also, MTNN emerged as the most traded stock in value terms, with 40.40% of the total value of trades on the exchange.

VITAFOAM topped the advancers’ chart with a price appreciation of 6.90 percent, trailed by RTBRISCOE (6.06%), ACCESSCORP (6.02%), CORNERST (3.70%), FIDELITYBK (3.00%), and six (6) others.

Twenty-two (22) stocks depreciated, topped by CWG with a price depreciation of 10.00% to close at ₦0.81, as BERGER (-9.85%), ETERNA (- 9.45%), CHAMS (-6.90%), NGXGROUP (-5.56%), BUACEMENT (-4.49%) and STANBIC (-3.33%) also dipped in price.

In that regard, the market breadth closed negative, recording 11 gainers and 22 losers.
In addition, the sector performance was negative, as three out of the five major market sectors closed bearish, led by the Industrial sector (-1.61%), trailed by the Insurance (-0.46%), and the Oil & Gas (-0.21%), while the Banking sector (+0.42%) and Consumer goods sector (+0.10) closed positive