‎Equities market close January red by 0.34%

equityTHE Nigerian Equities market marked the last trading session of the month of January with a loss of 0.34 percent to peg the YTD at 15.95 percent.

All Share Index (ASI) percent capitalisation closed lower at 44,343.65 points and N15.42 trillion from Monday’s 44,493.79 points and N15.48 trillion respectively.

Similarly, Market breadth recorded a ratio of 0.77 as 30 losers outnumbered 23 gainers.

On the sectoral performance, only Oil and Gas, Lotus Islam and Industrial sector inch higher, while NSE 30, Banking, Insurance and Consumer Goods lost points. NSE ASEM maintained its previous stance of 1071.68 points.
Consumer and Financial sector takes the top five stocks on the gainers’ chart as represented by Flour Mills Nigeria Plc, whose price appreciated by 10.05 per cent and Livestock Plc at 8.93 er cent; and the financial sector by Wema Bank Plc and Unity Bank Plc at 9.70 per cent and Wappic Plc at 8.70 per cent.

On the losers chart, LASACO took lead by 8.70 per cent depreciation on its share value, LAWUNION at 8.33 per cent, UNIC at eight per cent, Transcorp at 5.28 per cent and UAC-PROP by five per cent.

Banking stocks took over activities on both the value and volume chart as Diamond Bank Plc, FCMB Holdings, Skye Bank Plc, Zenith Bank Plc and Access Bank Plc topped the trade volume chart while Nigerian Breweries Plc, Zenith Bank Plc, Guaranty Trust Bank Plc, Access Bank Plc and FCMB Holdings topped the trade value chart.

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Total trade volume fell by 25.66 per cent in the market on Tuesday, closing at 652 million shares in contrast to previous close of 877 million shares. On the other hand, Trade value inclined by 4.49 per cent from previous close of N7.43 billion to close at N7.76 billion.

Analyst at APT Securities believed that the equities market stance which proposed a negative outlook might linger but still expected bargain hunting to flood the market at the release of some earnings result.

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