The domestic equities market, on Wednesday, closed southward retreating from the previous day’s gains by 0.09 percent, with the benchmark index dropping to 71,003.98 basis points.
Thus, the Month-to-Date and Year-to-Date returns of the All Share Index (ASI) settled at +2.6 percent and +38.5 percent, respectively.
The market’s weak performance was primarily driven by selloffs in MTN Nigerian Communication alongside Dangote Sugar and United Bank for Africa as these high-capitalised companies’ share prices dipped by 0.63 percent, 1.64 percent and 0.24 percent, respectively.
Meanwhile, the market capitalisation lost N34.46 billion to close at N39.05 trillion.
As measured by market breadth, market sentiment was positive, as 35 tickers gained relative to 15 losers. On the performance board, Daar Communication and R.T. Briscoe topped the gainers’ list after their respective share prices appreciated by 10 percent, while C&I Leasing and Prestige Insurance recorded the highest losses of the day having lost respective 7.6 percent from their share prices.
Sectoral performance was varied as two sectors gained as against two that lost while one stayed unchanged. Thus, the Banking and Insurance sectors posted marginal gains of 0.19% and 0.75%, while the Consumer Goods and Industrial Goods saw losses of 0.19 percent and 0.08 percent, and then the Oil/Gas index remained unchanged.
Market activity showed further improvement as the total deals advanced by 1.95 percent to 6,677 trades, while the total traded value for the day surged by 128.85 percent to N7.37 billion.
However, the total volume declined by 12.81 percent to 428.44 million units. The session’s top trading volume was led by Veritas Kapital, with 62.08 million units valued at N22.87 million, involving 125 trades, while MTN Nigeria Communication was the most traded in terms of value, amounting to N2.81 billion.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
AFEX’s crop production report forecasts higher prices for commodities in 2023/2024 season
Africa’s leading commodities player, AFEX, unveiled its 2023 crop production report in a hybrid event hosted at its Abuja office on…
No more union’s industrial strike in Nigerian varsities — Tinubu
President Bola Ahmed Tinubu has expressed the willingness of the federal government to establish synergy with…
Top five benefits of being a Guinness World Record holder
Guinness World Records, GWR, is a British reference book published annually, listing world records both of human achievements and…
Rema: Spotify honours Afrobeats star with 1 billion streams plaque
On a momentous occasion at the iconic O2 arena, Nigerian Afrobeats sensation Rema was honoured by Spotify for his…
Tinubu and Ganduje shouldn’t play with fire in Kano
The Court of Appeal on Friday upheld the verdict of the Kano State Governorship Election Petition Tribunal that…
Man City v Liverpool: 1xBet announces a grand battle in the Premier League
The reliable bookmaker 1xBet talks about the Premier League 13th-round central match, where Manchester City will…
GOING by the sophistication and changing tastes among real estate consumers, Palton Morgan, the developer…
An economist, Prof. Sherifdeen Tella, has urged the Federal and state levels of government to…
Prominent voices in Nigeria’s economic and policy space have renewed calls for the taxation of…
THE recent downgrade of the African Export-Import Bank (Afreximbank) by global credit rating agency Fitch…
AS a concerned Nigerian, I wish to commend the Honourable Minister of Justice and Attorney…
“So it is a conclave of political cardinals who have committed grave sins against the…
This website uses cookies.