Nigeria: NGX ASI dips by 0.1% as lull persits for five days
The Nigerian equities market declined for the fifth consecutive session, extending its bearish run as sell-offs in Zenith Bank and Access Holdings drove the All-Share Index lower by 0.1 per cent.
Market capitalisation also fell by 0.05 per cent to N65.75 trillion, reflecting a N35.3 billion loss in equities by session close.
Consequently, the Month-to-Date and Year-to-Date returns moderated to -2.8 per cent and +1.9 per cent, respectively.
Investor sentiment remained weak, as indicated by negative market breadth, with 14 stocks advancing against 28 decliners.
On the performance board, leading the gainers were Computer Warehouse Group, Veritas Capital, Deap Capital Management and Trust, Wapic Insurance and Wema Bank, while Livestock Feeds, Royal Exchange, Custodian Insurance, UACN Property Development Company and Chams topped the losers' chart.
Sectoral performance was mostly muted. The Insurance and Consumer Goods sectors gained 0.13 per cent and 0.39 per cent, respectively, while the banking sector declined by 0.43 per cent. The Oil/Gas, Industrial Goods, and Commodity sectors remained flat at 0 per cent.
Trading activity was subdued, with the number of deals, total transaction volume, and transaction value declining by 15.23 per cent, 77.28 per cent and 49.51 per cent, respectively.
A total of 10,182 transactions were recorded, amounting to N6.25 billion in value and 310.53 million units traded.
Fidelity Bank was the most traded stock by volume, at 40.03 million units, while Zenith Bank was the most traded stock by value, at N1.07 billion.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
by Kehinde Akinseinde-Jayeoba
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