Equity Market Ends Transaction for the Week in the Green, Declines by -0.68% w/w

Stockbrokers work at the Nigerian Stock Exchange in Lagos on May 16, 2019. - Africa's largest mobile phone operator, MTN, listed shares on the Nigerian Stock Exchange (NSE) in a $6 billion flotation reflecting its increasing presence in the Nigerian market, its largest. (Photo by PIUS UTOMI EKPEI / AFP) (Photo credit should read PIUS UTOMI EKPEI/AFP via Getty Images)
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The Nigerian domestic market closed trading activities for week in the northward trajectory, however, declined by -0.68%w/w.

The market performance indicators (NGX-ASI and Market Capitalization) increased by +0.06%, which can be attributed to market watchers increased buying in some medium and large scale stocks such as GEREGU, FBNH, and others.

The market index (All-Share Index) was up by 25.93 basis points, representing an increase of +0.06% to close at 43,968.75.

The Market Capitalization also gained ₦14.13 bn, representing a rise of +0.06% to close at ₦23,948.60 trillion from ₦23,934.47 trillion yesterday.

Nonetheless, market activities were down, as the Total Volume and Total Value traded for the day declined by 48.22% and 30.05% respectively.

Approximately 209.71 million units valued at ₦2,166.01 million were transacted in 2,942 deals.

ACCESSCORP was the most traded stock in terms of volume, accounting for 38.79% of the total volume of trades, followed by TRANSCORP (13.43%), GTCO (7.40%), SOVRENINS (6.22%), and NB (5.34%) to complete the top 5 on the volume chart, while ACCESSCORP was also the most traded stock in value terms, with 30.23% of the total value of trades on the exchange.

CORNERST topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by UNITYBNK (9.62%), ETRANSACT (9.38%), WAPIC (9.09%), REGALINS (8.00%), and eleven (11) others.

Seven (7) stocks depreciated, topped by FLOURMILL with a price depreciation of -9.90% to close at ₦27.30, as PZ (-7.03%), ETI (-5.00%), IKEJAHOTEL (-1.06%), NAHCO (-0.85%), GTCO (-0.28%) and NB (-0.27%) also dipped in price.

In that regard, the market breadth also closed positive, recording 16 gainers and 7 losers.

The market sector performance was negative, as two out of the five major market sectors were down, which includes the Consumer goods sector (-0.51%), and the Banking sector (-0.19%).

The Insurance sector was up by +2.02%, while the Industrial and Oil & Gas sectors were unchanged.