Stock Market Posts 5th Day Loss as ASI Falls 1.0%
Kehinde Akinseinde-Jayeoba
Equity trading at the Nigerian Exchange Limited (NGX) extends its losing streak for the fifth straight session on Thursday, ending lower as the All Share Index (ASI) fell 1.04% to settle at 54,915.61 basis points.
Notably, the 4.95% drop in MTN Nigeria Communication's share price partly explains the poor performance seen in the equity market.
Furthermore, sell-offs in financial services stocks such as Ecobant Transnational Incorporated, United Capital, FBN Holdings, Fidelity Bank and Guaranty Trust Holding Company contributed to a depressed trading session on Thursday, as share prices for these companies have fallen. by 10.0%, 5.13%, 2.73%, 272% and 1.20%, respectively.
As a result, the monthly and annual returns showed -1.6% and +7.2% respectively.
Equity investors therefore lost N313.02 billion as the market capitalization closed below the market of N30 trillion to stand at N29.920 billion.
As measured by market breadth, market sentiment was negative, as 25 tickers lost to eight winners.
On the performance chart, Ecobank Transnational Incorporated and IMG lead the list of losers after depreciating the stock value by 10.0% and 9.3%, respectively; while Chams and University Press posted the highest gains of the day after their respective prices rose 8.7% and 7.6%.
The performance of the whole sub-sector was generally bearish, with the exception of the NGX Oil/Gas index, which closed flat. The NGX Banking, NGX Insurance, NGX Consumer Goods and NGX Industrial indices increased by 1.00%, 0.36%, 0.17% and 0.10% respectively. In the broad and narrow markets, the NGX Premium, NGX Mainboard and NGX-30 indices fell 206 basis points, 28 basis points and 117 basis points, respectively.
Analysis of market activity on Thursday showed that trade turnover was down from the previous session, with trade value down by 55.66%. A total of 137.29 million shares worth N1.51 billion were traded in 3,489 transactions. Transnational Corporation topped the volume chart with 26.09 million units traded, while Zenith Bank topped the value chart with trades worth N353.89 million.
Kehinde Akinseinde-Jayeoba
Equity trading at the Nigerian Exchange Limited (NGX) extends its losing streak for the fifth straight session on Thursday, ending lower as the All Share Index (ASI) fell 1.04% to settle at 54,915.61 basis points.
Notably, the 4.95% drop in MTN Nigeria Communication's share price partly explains the poor performance seen in the equity market.
Furthermore, sell-offs in financial services stocks such as Ecobant Transnational Incorporated, United Capital, FBN Holdings, Fidelity Bank and Guaranty Trust Holding Company contributed to a depressed trading session on Thursday, as share prices for these companies have fallen. by 10.0%, 5.13%, 2.73%, 272% and 1.20%, respectively.
As a result, the monthly and annual returns showed -1.6% and +7.2% respectively.
Equity investors therefore lost N313.02 billion as the market capitalization closed below the market of N30 trillion to stand at N29.920 billion.
As measured by market breadth, market sentiment was negative, as 25 tickers lost to eight winners.
On the performance chart, Ecobank Transnational Incorporated and IMG lead the list of losers after depreciating the stock value by 10.0% and 9.3%, respectively; while Chams and University Press posted the highest gains of the day after their respective prices rose 8.7% and 7.6%.
The performance of the whole sub-sector was generally bearish, with the exception of the NGX Oil/Gas index, which closed flat. The NGX Banking, NGX Insurance, NGX Consumer Goods and NGX Industrial indices increased by 1.00%, 0.36%, 0.17% and 0.10% respectively. In the broad and narrow markets, the NGX Premium, NGX Mainboard and NGX-30 indices fell 206 basis points, 28 basis points and 117 basis points, respectively.
Analysis of market activity on Thursday showed that trade turnover was down from the previous session, with trade value down by 55.66%. A total of 137.29 million shares worth N1.51 billion were traded in 3,489 transactions. Transnational Corporation topped the volume chart with 26.09 million units traded, while Zenith Bank topped the value chart with trades worth N353.89 million.
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