Equities market opens April bearish as ASI dips by 0.11%

At the start of the new month, the local stock market closed in decline as the All-Share Index fell by 0.11 per cent to 105,547.16 basis points, bringing the year-to-date return to 2.55 per cent.

Market capitalisation also dropped by 0.11 per cent to ₦66.19 trillion, reflecting a ₦71.16 billion loss in equities by the session’s end. The overall market downturn dampened investor sentiment, resulting in weak market breadth—25 stocks advanced while 33 declined.

Leading the gainers were UPDC Real Estate Investment Trust, Africa Prudential, VFD Group, Union Dicon Salt, and May & Baker Nigeria, having appreciated in share value by 10.0 per cent, 9.96 per cent, 9.96 per cent, 9.28 per cent, and 6.17 per cent, respectively.

Conversely, the top decliners included UAC of Nigeria, University Press, Sunu Assurance Nigeria, Consolidated Hallmark Holdings, and Learn Africa, whose respective share prices dipped by 10.0 per cent, 9.95 per cent, 9.92 per cent, 9.78 per cent, and 9.64 per cent.

Sectoral performance was largely negative. The Insurance, Consumer Goods, Oil & Gas, and Commodity sectors recorded losses of 2.61 per cent, 0.01 per cent, 0.49 per cent, and 0.17 per cent, respectively, while the Banking sector edged up by 0.07 per cent and the Commodities sector remained flat.

Trading activity was subdued, with total transaction volume and value declining by 19.99 per cent and 44.41 per cent, respectively. However, the number of deals surged by 30.52 per cent, with 17,286 transactions recorded, amounting to ₦12.02 billion in value and 438.09 million units traded.

Fidelity Bank was the most traded stock by volume, with 41.73 million units, while Guaranty Trust Holding Company was the most traded stock by value, at ₦2.30 billion.

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