Local Bourse Down Slightly by -0.02%, as Headline Inflation Surges by 32bps to 21.09%

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The Nigerian equity market closed trading activities for today negative, as market performance indicators (NGX-ASI and Market Capitalization) declined marginally by -0.02%.

The market index (All-Share Index) reduced by 9.87 basis points, representing a slight decrease of -0.02% to close at 43,808.25.

The Market Capitalization also lost ₦5.38 bn, representing a marginal decline of -0.02% to close at ₦23,861.17 trillion from ₦23,866.55 trillion yesterday.

Market activities were down today, as the Total Volume and Total Value traded for the day reduced by -44.70% and -53.20% respectively.

Approximately 103.47 million units valued at ₦1,186.58 million were transacted in 3,045 deals.

FBNH was the most traded stock in terms of volume, accounting for 11.01% of the total volume of trades, followed by TRANSCORP (10.94%), FIDELITYBK (10.00%), ACCESSCORP (8.44%), and GTCO (5.77%) to complete the top 5 on the volume chart, while BUAFOODS was the most traded stock in value terms, with 18.68% of the total value of trades on the exchange.

CWG and LEARNAFRCA both topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by CAVERTON (8.75%), PRESTIGE (8.33%), JAPAULGOLD (7.41%), ACADEMY (6.84%), and nine (9) others.

Thirteen (13) stocks depreciated, topped by WAPCO with a price depreciation of -9.66% to close at ₦20.10, as ROYALEX (-9.41%), CORNERST (-9.09%), UPDCREIT (-8.93%), FTNCOCOA (-8.82%), CHAMS (-8.00%) and ACCESSCORP (-0.61%) also dipped in price.

In that regard, the market breadth closed positive, recording 15 gainers and 13 losers.

However, the market sector performance was positive, as three out of the five major market sectors were up, led by the Consumer goods sector (+0.38%), the Oil & Gas sector (+0.30%), and the Banking sector (+0.24%).

The Insurance and Industrial sectors were down by -1.10% and -0.65% accordingly.

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