The loss seen on the equity market in the previous trading session extended through Wednesday, as the market closed on a negative note.
Wednesday’s negative outing saw the NSE All-Share Index drop by 0.19% to close at 25,550.31, due to losses in CADBURY (-8.39%), WAPCO (-3.70%), INTBREW (-6.25%, ZENITHBANK (-1.16%) among others which subdued the gains in NB (+2.31%), UBN (+7.00), GUARANTY (0.40%) etcetera.
The market capitalization settled at N13.354 trillion with YTD return worsening to -4.81%.
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Activity level
The volume and value of traded shares declined further on Wednesday by 13.59% and 19.76% respectively to 211.816 million and N2.418 billion.
The top traded equity by volume was FCMB with 30.33 million shares valued at N62.182 billion traded in just 27 deals. It was followed by ACCESS and UBA with 20.974 million units and 18.570 million units respectively.
In terms of value, MTNN took the lead with 8.858 million units of shares worth N1.063 billion traded in 70 deals. It was followed by ZENITHBANK and ACCESS.
Performance of Indices
Two out of the five indices under our watch closed in green. Below are the performances of the five indices;
- The Oil and Gas Index gained 0.41%
- Consumer Goods Index rose by 0.07%
- The Insurance Index declined by 1.49%
- The Banking Index was down by 0.58%
- The Industrial Goods Index lost 0.23%
Investor sentiment
Investor sentiment as measured by market breadth (gain/loss ratio) remained weak at 0.89x reflecting 17 gainers and 19 decliners.
The top five gainers by percentage and closing prices are;
- LEARNAFRCA rose by 9.62% to close at N1.14
- BERGER rose by 7.44% to close at N6.50
- UBN rose by 7.00% to close at N5.35
- OANDO rose by 4.44% to close at N2.35
- LASACO rose by 4.00% to close at N0.26
The top five decliners by percentage are;
- ROYALEX lost 10.00% to close at N0.27
- NEM lost 9.78% to close at N2.03
- CADBURY lost 8.39% to close at N7.10
- ABCTRANS lost 8.33% to close at N0.33
- NEIMETH lost 7.69% to close at N1.80
Written by;
Ifunanya Ikueze