Equities Market Continues Bearish Trend
The Nigerian equities market closed negative midweek as NSE-ASI lost 0.09 per cent to close at 27,523.08pts.
Market breadth index was negative with 17 losers against 13 gainers while equities market capitalisation for the three trading session so far this week, has declined by N118 billion. Equities market closed Wednesday at N14,338,296 trillion, having opened the week at N14,455,932 trillion.
Top Active stocks
On Wednesday Guaranty took over from Zenith Bank as the most active stock, with a turnover of 79,346,101 million shares valued N2, 260,312,152.30 billion. Guaranty on Tuesday was the second most active.
ZENITHBANK which led the activity chart Monday and Tuesday, yesterday placed second to Guaranty with 39,999,715 million shares worth N780, 854,699.85 million, while FBNH as the third most traded polled 34,620,421 million shares worth N199, 533,985.60 million.
JAPAULOIL was the fourth most active stock on Wednesday, with turnover of 16,313,472million shares, valued N3, 264,703.09 million, while UBA closed the top five activity chart with 15,736,651million shares, worth N120, 452,304.25 million.
FO led the losers on Wednesday with N1.85 or 9.97 per cent decline to close at N16.7 per share, followed by CUSTODIAN ,which depressed by N0.6 or 9.92 per cent, ending the day at N5.45 per share, while GUARANTY, as the third highest loser, dipped by N0.45 or 1.56 per cent, ending the day at N28.4 per share.
NCR closed as the fourth highest loser with N0.28 or 9.40 per cent loss on its share price, ending the day at N2.7 per share, while DANGSUGAR , closed the day’s top five losers chart at N12.1 per share, having dropped N0.25 or 2.02 per cent.
Midweek’s depressive performances were mainly due to the losses recorded in MANSARD which dipped by 10.00 per cent, FO by -9.97 per cent, CUSTODIAN by -9.92 per cent, NCR by -9.40 per cent, and LAWUNION by -9.09 per cent which offset the gains recorded, in UCAP by +9.90 per cent, AFRIPRUD by +9.87 per cent, AIICO by +9.76 per cent, CILEASING by +9.48 per cent and UNITYBNK by +9.26 per cent.
Sector performances were broadly negative Wednesday Oil & Gas index declined by 1.12 per cent, Banking index by -0.55 per cent, and Consumer Goods index by -0.15 per cent, all closing in red. However, Industrial index appreciated by 0.46 per cent.
In terms of activity levels, total volume and value increased by 73 per cent and 133 per cent compared to Tuesday, as investors exchanged over 290million units of shares worth over N5.02billion.
- The equities market closed down midweek due to the losses recorded across most sectors.
WAPCO led the gainers midweek with N0.6 or 3.97 per cent, closing trade at N15.6 per share, followed by NCILEASING which rose by N0.55 or 9.48 per cent, closing at N6.35 per share, while AFRIPRU as the third-best gainer, appreciated by N0.46 or 9.87 per cent, closing trade at N5.12 per share.
UCAP appreciated by N0.29 or 9.90 per cent, ending the day at N3.22 per share, while CAVERTON, closed the top five gainers chart at N2.82 per share, following decline by N0.22 or 8.46 per cent.
For the second consecutive trading session, GUARANTY has remained the top decliner. The bank led the group Tuesday with N0.15 or 0.52 per cent depreciation in share price, to close at N28.85 per share. On Monday, GURANTY led the losers with N0.15 or 3.01 per cent to close at N28.85 per share.
In terms of activity levels, total volume and value increased by 1 per cent and 24 per cent, compared to last week Friday as investors exchanged over 135million units of shares worth over N1.58billion.
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