Trading activity on the floor of The Nigerian Exchange on Thursday was subdued. The All Share Index was relatively unchanged, dropping just 4.08 points to close at 44,604.74 points, 0.01% lower than its opening position.
Following in similar path, the market capitalization shed 0.01%, roughly N2.20 bn in value to settle at N24.03 trillion.
Insurance Stocks dominated the losers chart, led by Nem Insurance Plc and Custodian Investments. Three other insurance stocks were in the top ten losers of the day.
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The Share price of Transnational Corporation of Nigeria Plc (NGX: TRANSCORP) after trading below N1.10 for months now, the share price finally traded and closed above N1.13 on Thursday.
Activity Level
The activity level was mixed on Wednesday, as volume of stocks traded increased while the value of traded shares decreased.
321.75 million units of shares valued at N3.65 billion was traded in 4,565 deals. While the volume of shares traded increased by 20.81%, the value of traded shares decreased by 4.37%.
TRANSCORP, JAIZBANK and MBENEFIT Shares were the most traded by volume with 104.57mn, 66.71mn, and 13.74mn shares respectively.
Shares of SEPLAT, MTNN and GTCO were the top three most traded shares by value. Shares worth N920.64mn, N590.79mn and N277.93mn of SEPLAT, MTNN and GTCO respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: 0.07% (411.25 Points)
- Industrial Goods Index: 0.00% (2106.73 Points)
- Consumer Goods Index: 0.16% (557.69 Points)
- Oil & Gas Index: 0.00% (360.41 Points)
- Insurance Index: -0.93% (194.58 Points)
The Week-to-date performance stands at 1.61% while the YTD performance improved to 4.69%.
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) weakened to 0.9x ,lower than the 1.6x recorded on Wednesday, as 14 stocks gained while 15 stocks also lost.
Top Gainers:
- TRANSCORP gained 9.71% to close at N1.13
- CHIPLC gained 7.94% to close at N0.68
- REGALINS gained 7.14% to close at N0.45
- JAIZBANK gained 6.06% to close at N0.70
- INTBREW gained 4.04% to close at N5.15
Top Losers:
- NEM lost 10.00% to close at N3.96
- CUSTODIAN lost 9.49% to close at N7.15
- UACN lost 5.21% to close at N9.10
- FTNCOCOA lost 5.13% to close at N0.37
- JAPAULGOLD lost 4.44% to close at N0.43