Equities Market On Steep Fall To Single Digit
The Nigerian equities market is on a steep fall raising fear its value may plummet to a single digit and well below N10 trillion in the new month’s first full week.
The fear is predicated on the 0.13 percent decline in NSE ASI as at April 03, closing the week negative at N10, 993,525,508,506.52 trillion or 21,094.62pts. Similarly, the market lost 3.51 percent WTD.
Meanwhile, at Friday’s trading session, the market breadth index was positive with 15 gainers against 13 losers. SKYAVN with -9.89 percent decline, was the top loser while ACCESS which appreciated by +10.00 percent led the gainers’ chart.
FBNH appreciated by 6.76 percent and was the most actively traded stock with about 60million units of shares worth about N232million.
NSE Industrial Index dropped by 0.89 percent, on the back of the sell-offs in WAPCO which dipped by -2.72 percent and DANGCEM that dipped -2.65 per cent.
NSE Consumer Goods Index on Friday dropped by 0.41 per cent, due to the losses in NB by -2.22 per cent, INTBREW by -2.00 per cent and CADBURY by -1.41 percent.
NSE Banking Index rose by 3.70 per cent, as a result of the gains in ACCESS by 10.00 per cent, ZENITH BANK by +8.18 per cent, FBNH by +6.76 per cent, UBA by +2.06 per cent and GUARANTY by +1.73 percent.
NSE Oil & Gas Index on the last trading session of the week, gained 0.54 percent, due to the buy-interest in OANDO that appreciated by 6.34 percent.
On Thursday, the Nigerian equities market closed positive as NSE-ASI gained 0.10% to close at 21,121.20pts. In Thursday’s trade, market breadth index was negative with 19 losers against 7 gainers.
DANGCEM appreciated 9.93 per cent and led the gainers’ chart while NB declined -9.27 per cent and was the top loser.
ZENITH BANK which dipped by 3.51 per cent and emerged the most actively traded stock with about 101million units of shares worth about N1.11billion.
Industrial Index rose by 2.37 per cent, as a result of the gain in DANGCEM by +9.93 per cent. The NSE Banking Index declined by 2.19 per cent, on the back of the sell-offs in ACCESS which dipped by 4.35 per cent, ETI declined by 3.70 per cent, ZENITHBANK dipped by -3.51 per cent, FCMB by -3.33 per cent and FIDELITY declined by -2.86 per cent.
NSE Consumer Goods Index decreased by 1.89 per cent, due to the losses in NB by -9.27 per cent, HONYFLOUR by -8.16 per cent and INTBREW by -6.54 per cent. NSE Oil & Gas Index closed flat on Thursday flat.
Last Midweek, the Nigerian equities market closed negative on the first trading session in April as NSE-ASI lost 0.94 per cent to close at 21,100.54pts.
In midweek’s trade, market breadth index was negative with 26 losers against 6 gainers. UNILEVER declined -10.00 per cent led the losers’ chart while MTNN gained (+9.33%) was the top gainer.
ZENITHBANK declined 2.56 per cent and was the most actively traded stock with about 39million units of shares worth about N444million.
Sector Performance
Midweek, the NSE Industrial Index dropped by 2.57 per cent, as a result of the decline in DANGCEM by -9.95 per cent.
The NSE Banking Index fell by 1.99 per cent, on the back of the sell-offs in ETI which dipped -8.99 per cent, STANBIC by -4.35 per cent, WEMABANK by -4.00 per cent, ACCESS by -3.36 per cent and ZENITHBANK by -2.56 per cent.
NSE Consumer Goods Index decreased by 1.22 per cent, due to the losses in UNILEVER that dropped 10.00 per cent form its share price, , GUINNESS by -9.92 per cent, FLOURMILL by -9.88 per cent and NB by -3.31 per cent. The NSE Oil & Gas Index: Closed flat.
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