Kehinde Akinseinde-Jayeoba
Equities trading at the Nigerian Exchange Limited (NGX) sustained their negative sentiments as profit-taking activities across major banking stocks, Guaranty Trust Holding Company and Zenith Bank triggered a 0.3 per cent decline in the benchmark index having depreciated in share value by 3.2 per cent and 2.5 per cent, respectively.
Having depreciated by 0.3 per cent, the All Share Index (ASI) settled at 54,035.39 basis points.
Accordingly, the Month-to-Date loss increased to -0.4 per cent, while the Year-to-Date gain moderated to +5.4 per cent.
Equities investors, therefore, lost N84.38 billion as the market capitalization closed at N29.44 trillion.
As measured by market breadth, market sentiment was negative, as 21 tickers lost relative to 14 gainers. On the performance board, Multiverse and Eterna topped the loser’s list having depreciated by 9.9 per cent and 8.9 per cent, respectively, while SCOA and NAHCO recorded the highest gains of the day as their respective share prices earned 10.0 per cent and 9.6 per cent.
Sectorial performance remained weak as two of the remaining sub-sector indices closed in red territory save for the NGX Insurance Index, which rose by 0.89 per cent. The NGX Banking and NGX Industrial indices fell by 1.34 per cent and 0.04 per cent, respectively. In the broad and narrow markets, the NGX Premium, NGX Mainboard, and NGX-30 indexes increased by 20 basis points, 33 basis points, and 28 basis points, respectively.
Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 28.82 per cent A total of 296.74 million units of shares valued at N3.07 billion were exchanged in 4,590 deals.
Fidelity Bank led the volume chart with 46.59 million units traded, while Zenith Bank led the value chart in deals worth N373.78 million.
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