The Financial and Industrial Sectors Lifts Equity Market by +0.55%, Amidst Sell-off

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Local bourse rebounded today, after two days of successive decline, as market performance indicators (NGX-ASI and Market Capitalization) grew by +0.55%.

The market index (All-Share Index) was up by 242.19 basis points, representing an increase of +0.55% to close at 44,050.44.

The Market Capitalization also gained ₦131.92 bn, representing a growth of +0.55% to close at ₦23,993.09 trillion from ₦23,861.17 trillion the previous day.

Market activities were also up, as the Total Volume and Total Value traded for the day surged by +54.09% and +141.12% respectively.

Approximately 159.44 million units valued at ₦2,861.03 million were transacted in 3,039 deals.

FIDELITYBK was the most traded stock in terms of volume, accounting for 17.53% of the total volume of trades, followed by GTCO (13.06%), ZENITHBANK (8.79%), FBNH (5.56%), and UNITYBNK (4.56%) to complete the top 5 on the volume chart, while AIRTELAFRI was the most traded stock in value terms, with 21.90% of the total value of trades on the exchange.

CORNERST topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by MRS (9.73%), ZENITHBANK (8.46%), GTCO (6.63%), WAPCO (5.97%), and sixteen (16) others.

Twenty-four (24) stocks depreciated, topped by ETERNA with a price depreciation of -10.00% to close at ₦5.67, as GUINNESS (-9.98%), SCOA (- 9.49%), SUNUASSUR (-9.38%), REGALINS (-7.41%), NEIMETH (-6.67%) and JAPAULGOLD (-3.45%) also dipped in price.

In that regard, the market breadth closed negative, recording 21 gainers and 24 losers.

The market sector performance was positive, as three out of the five major market sectors were up, led by the Banking sector (+4.21%), followed by the Insurance sector (+0.78%), and the Industrial sector (+0.36%).

The Oil & Gas and Consumer goods sectors were down by -0.35% and -0.24% respectively.