Domestic Equities Market Down 0.38%
Profit-taking sentiment Thursday plunged Nigerian domestic equities, ending the three straight gains recorded this week.
The markets all Share-Index pressured by profit-taking declined by 0.38 percent, trend likely to close the week
The bearish trend manifested in the number of losers surpassing gainers by 17 decliners against 16 gainers. Market activity was weak as the volume and value of stocks traded dipped by 23.53 percent and 24.72 percent to 0.27 billion units and N5.29 billion respectively, despite the 2.5 billion worth of DANGCEM shares that exchanged hands.
The NSE Banking Index suffered the most setback, moderating by 2.12 percent as investors booked profit on GUARANTY, ZENITH BANK, ACCESS, and UBA; hence, their respective share prices dropped by tanked by 2 percent, 1.76 percent, 5.11 percent, and 2.99 percent, respectively.
Similarly, the NSE Insurance Index and NSE Oil/Gas Index depreciated by 0.28 percent and 0.39 percent respectively. Consequently, the year to date loss of the NSE ASI rose to 5.70 percent.
Elsewhere, NIBOR rose for most tenor buckets amid renewed liquidity strain; also, NITTY rose for most maturities tracked. In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; also, FGN Eurobond tanked for most maturities tracked
MTNN emerged as the worst loser with N2 or 1.69 percent decline to close the trade at N116 per share, followed by GUARANTY which dipped by N0.5 or 7.14 percent, closing the trade at N24.5 per share, while CUSTODIAN, the third on loser chart depreciated by N0.45 or 7.14 percent, to close the trade at N5.85 per share.
GLAXOSMITH closed as the fourth-worst loser with N0.4 or 5.06 percent, to close the trade at N7.5 per share, while ACCESS closed the top five losers chart at N6.5 per share, following a decline by N0.35 or 5.11 percent.
DANGCEM led the gainers Thursday with N1.4 or 1.00 percent gain, to close the trade at N141.9 per share. DANGSUGAR followed with N0.95 or 6.76 percent growth in share price, to close at N15.00 per share, while FLOUR MILL, the third-best gainer added N0.85 or 4.25 percent, closing the day at N20.85 per share.
CILEASING rose by N0.45 or 9.28 percent, to end the session at N5.3 per share, while SKYAVN closed the top five gainers group at N2.49 per share, having appreciated by N0.22 or 9.69 percent.
FBNH scored the second straight days of most actively traded stock with 41,352,759 million shares worth N225, 670,592.95 million, the financial services Holding company (FBNH) on Wednesday, emerged as the most active stock with 50,290,215 million shares valued N277,255,917.85
ZENITH BANK followed on the activity chart with 25,210,511 million shares worth N427, 738,945.95 million, while FCMB, the third most traded polled 22,072,440 million shares valued N38, 225,374.91 million.
GUARANTY closed the day as the fourth most active stock with 18,740,962 million shares, worth N465, 253,388.05 million, while DANGCEM closed the top five active stocks table with 18,025,209 million shares valued N2, 573,516,369.80 million.
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