Equities market dips by 1.8% despite robust trading activities

The trading session at the Nigerian Exchange Limited (NGX) was unimpressive as the equities market settled lower following profit-taking activities in Dangote Cement.

Thus, the All-Share Index declined by 1.8 per cent to close at 43,461.60 basis points.
Accordingly, the Month-to-Date loss increased to -0.9 per cent, while the Year-to-Date gain moderated to +1.7 per cent.

As measured by market breadth, market sentiment was negative as 18 tickers lost relative to 11 gainers. On the performance board, Guinness Nigeria and Custodian Insurance recorded the most significant losses of the day, having shed 10.0 per cent and 9.3 per cent from their respective share prices; while Unity Bank and ThomasWytopped the gainers’ list after their respective share prices appreciated by 10.0 per cent and 8.6 per cent.

Analyses by sectors indicated that the Industrial Goods, Insurance, Consumer Goods, and Banking indices recorded losses of 3.9 per cent, 1.3 per cent, 0.6 per cent and 0.2 per cent, respectively; while the Oil & Gas index was the sole gainer for the day.

Meanwhile, analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up 16.97 per cent. A total of 249.91 million shares valued at N2.50billion were exchanged in 3,283 deals.

Access Holdings led the volume and value charts with 128.73 million units traded in deals worth N1.03 billion.

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