Equities trading in the domestic bourse carried on last week’s bearish performance to the new week as the benchmark index dipped marginally by 0.1 per cent on Monday.
Basically, selloffs in WAPCO and Union Bank of Nigeria triggered the market’s loss as they lost 5.3 per cent and 3.8 per cent from the value of their respective shares.
At the end of trading activities Monday, The All Share Index (ASI) of the Nigerian Exchange Limited (NGX) declined by 0.1 per cent, to close at 39,434.69 basis points.
Accordingly, Month-to-Date and Year-to-Date return settled at +2.3 per cent and -2.1 per cent, respectively.
Following the bearish trade recorded on Monday, investors lost N25.21 billion as the market’s worth settled at N20.55 trillion against N20.57 trillion opening market.
As measured by market breadth, market sentiment was, however, positive, as 19 tickers gained, relative to 10 losers.
On the performance chart, FTN Cocoa and PharmaDeko topped the gainers’ list having appreciated by 10.0 per cent and 9.9 per cent, respectively; while WAPCO and PZ recorded the most significant losses of the day as the value of their respective shares depreciated by 5.3 per cent and 4.2 per cent.
Sectorial performance was also bearish as the Industrial Goods, Oil and Gas, Consumer Goods, and Banking indices recorded declines by 0.3 per cent, 0.1 per cent and 0.1 per cent respectively, while the Insurance index that closed in the green with 0.4 per cent appreciation.
Activities at the local bourse on Monday also followed overall sentiments as the total volume of trades decreased by 24.7 per cent to 211.33 million units, valued at N2.03 billion and exchanged in 3,939 deals.
CHAMS stocks were the toast of investors as it made the most traded stock by volume at 47.95 million units, while GTCO was the most traded stock by value at N586.12 million.
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