Nigerian Stocks Dip Marginally
Nigerian equities benchmark, the All-Share Index shed 0.01 per cent to close at 59,206.63 points from 59,211.26 index points recorded in the previous day’s trading session.
The market capitalization of equities saw a marginal loss of N4 billion to close at N32.237 trillion, -0.01 percent lower than the N32.241 trillion recorded in the previous trading session.
Selloffs in the shares GTCO (-0.16%), STANBIC (-4.07%), and WAPCO (-0.52%) offset gains recorded by Zenith Bank (+0.63%), ACCESSCORP (+0.34%) and FBNH (+3.59%), bringing the market down slightly.
Friday’s marginal depreciation notwithstanding, investors escaped with a cumulative 0.35 percentage profit, the market has recorded gains in three out of the five trading sessions during the week, thus extending gains for the fifth consecutive week.
Significant gains recorded in the shares of Dangote Cement (+1.23% w/w), Bua Cement (+4.65% w/w), and Zenith Bank (+3.23% w/w) in the week offset sharp drop in Airtel Africa (-1.72% w/w), MTNN (-3.10% w/w) and Geregu Power (-3.85% w/w).
Consequently, the market year-to-date (YTD) return dipped to 15.52 percent while the market capitalization gained ₦110.42 billion w/w to close at ₦32.24 trillion.
Analysis of Friday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 38.23 per cent. A total of 627.87 million shares valued at ₦9.15 billion were exchanged in 6,953 deals.
UBA (+1.33%) led the volume chart with 62.69 million units traded while GTCO (-0.16%) led the value chart in deals worth ₦1.55 billion.
Transcorp Hotel and RT. Briscoe, FIDSON, and NASCON with maximum daily gain of +10 percent each jointly topped about 23 others on the gainers table while Unity Bank (-9.84%) lost the most, topping the 18 losers on the table.
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